VinChain is creating a worldwide blockchain database of used vehicle information that is 100% transparent, reliable, and accessible by everyone. The VinChain project unites all data providers and gives the user a complete, uninterrupted vehicle record. Consumers can also significantly increase the value of their vehicles at the time of the sale by contributing to the repository of data on the blockchain with help of vehicle tracking devices.
VinChain is creating a worldwide blockchain database of used vehicle information that is 100% transparent, reliable, and accessible by everyone. The VinChain project unites all data providers and gives the user a complete, uninterrupted vehicle record; all without the disadvantages of a centralized database. Consumers can also significantly increase the value of their vehicles at the time of the sale by contributing to the repository of data on the blockchain with help of vehicle tracking devices. VinChain is a decentralized network that allows you to store VIN data on the blockchain, which guarantees complete data invariability. You can pay for requests on the blockchain with VinChain tokens, afterwhich the tokens will be distributed between information providers depending on the value of the provided information to the community.
Why is this project important?
– No one will be able to forge information
– With accurate vehicle information the roads will be safer all over the world
– It will create a trust-based community for dealers, united by the idea to make the market transparent to customers
We have an agreement with AutoInspect that by the launch of VinChain they will contribute their repository of more than 300 million vehicles into our database. We have a massive amount of industry experience not only form our partnerships, but also from our team members and advisors. Just one of our team mates, Jurgis, has a total annual turnover of more than half a billion dollars form all of his auto companies. That speaks a great deal about the massive experience that we have on our side.
We have longstanding functional and profitable businesses that currently generates profit, EpicVin became one of our partners and by the time we go live they will completely integrate with us. So in essence we are not just launching an MVP, but a functional, tested, and already proven to work business.
Project Objectives
- Create a block with different levels of access and information protection. Data security access level should meet the needs of government agencies.
- Unite participants in the automotive industry, such as manufacturers, insurance companies, dealers, service stations, and developers of navigation systems into a single ecosystem for data exchange purposes.
- Create an infrastructure and provide direct access to the database for each market participant.
