For each vehicle, a blockchain passport is issued which will be stored in a distributed registry. VINchain is also capable of producing reports that can be ordered immediately by buyers, sellers, and other market participants. Information about the vehicle is accumulated in the databases of all system participants (manufacturers, insurance companies, service stations, banks and leasing companies, dealers, etc.) during the entire period of its use. The blockchain-passport of the vehicle is connected to the vehicle identification number (VIN) and placed in the VINchain blockchain system. This information is transparent and accessible to everyone with access to the system.
The project’s main goal is to change the global market of used cars by making it honest, transparent, reliable, with equal access to information for each participant.
Token - VIN
Price - 1 ETH - 20’000 VIN
Sales end - 15 April 2018
Accepting - ETH, BTC, LTC, DASH
Soft-Cap - 3 300 ETH
Hard-Cap - 23 250 ETH
Restricted areas - USA, Singapore, Canada, China and Southern Korea
Country - USA
KYC for purchase > 2.5 ETH, AML Policy
Owners and advisers - available info on website
Referral 10% bonus, stage bonuses
Knowing all of the information available on a given vehicle will create trust in the process and the buyer will potentially be willing to pay more. For the seller, disclosing the complete history of the vehicle may increase the value of the car at the time of sale.
Every market participant has the right to know the true history of a vehicle being sold. The VINchain project will fill this niche to the benefit of all. In the future, this technology can be scaled to segments of the fixed asset market such as yachts, construction machinery and real estate.
Check more details at Vinchain website
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