Vinchain - Review of ICO

 Vinchain is a company whose goal is to create a new market for supported cars, a market that will be absolutely transparent, reliable and honest and where all the necessary information for interested parties will be highlighted. 

 The intermediary plays from both the sides and creates his fortunes. Both the engaging parties have trust issues, and this largely benefits the third party. The used vehicle has become an industry of its own which is composed of a lot of unwanted wheels, who limit the speed of the market for their own profits. The need for a sustainable platform to break this chain has become much more urgent as we see the market growth in the recent years. 95 millions of cars were sold in 2016.

The market is huge considering the current and historical trends. We can only hope that this speed will continue increasing every year. We need a platform which can provide a comprehensive solution for this problem, thereby creating an environment of trust between the buyer and seller of the used vehicle. This can be solved utilizing the concept of latest and reliable technology, to facilitate a smooth flow of information between engaging parties. 

 SOLUTION OFFERED

VINChain has decided to create a decentralized repository of used vehicles based on the blockchain technology. It will be fast, safe, secure and transparent. It creates the entire life cycle of a used vehicle, which is stored in the most secure technology. Assembling all the data about a vehicle will be one of the most important tasks of the platform. Car dealers, car manufacturers, insurance companies and banks are part of the VINChain ecosystem. 

 They can utilize the database of used vehicle to their benefit. The primary objective of the VINChain includes uniting all the key participants in the Auto Industry on to the platform, where they can share the data in the transparent way. A token is used by the VINChain to ease the process of information exchange on the vehicle.

VINChain provides multiple uses in B2B transactions, which will greatly benefit the Car manufacturers and car dealers. The business model is quite simple where VINChain earns commissions from each information request. It aims to create a sustainable model for the Auto industry. 

Objectives of the project:

1) Creation of a huge information base, which will be well protected; 
2) Association of manufacturers, dealers, insurers, SRT and electronics developers into a single ecosystem with a database; 
3) Creation of an infrastructure to provide open access to the database for each car and the creation of a fundamentally new - transparent market for used cars.

Tokens of the company:

The sale of tokens will last from February 1 to April 15, 2018. You can buy tokens for ETH, BTC, LTC and DASH. In the open sale there will be 600 million tokens (total will generate 1 billion), but considering the market of supported cars, which is constantly increasing, this is not such a large number. The distribution of tokens will be made from April 16 to 23, 2018. The project's hardcap is 23,250 ethers. 
ICO will be produced in seven stages and at each stage the price of tokens will be different. In order not to list them all (you can see this both on the website and in the information document), I will just say that reaching a certain number of tokens sold will increase their value. So for the first stage they were sold for 28 thousand for 1 ether, and in the last for 1 ether it will be possible to purchase only 20 thousand. 

Problems:

Now, and before too, there is the problem of "asymmetric information". That is, the seller of the car knows about his product much more than the person who buys it. And usually this information is not particularly wanted to share, if it is certainly not positive. 
Because of problems in this industry, namely, unscrupulousness of sellers, there is a threat to the most important - human life. After all, if the car was in a serious accident and the fatigue of the metal is at an extremely high level, then with a new accident, the sad consequences can not be avoided. Because of the dishonesty of some auto-sellers, distrust arises to all who want to sell their car. Thus, very often you can see an imbalance in the cost of the machine and its quality, and you will be lucky if a good car was sold cheaply, and not vice versa. 

 

Decision:

To solve this problem, Vinchain decided to create a database on the block, which will store absolutely all the information that relates to the vehicle. That is, completely everything that will happen with the car during his life will be structured into a report, which, in turn, will be stored in a distributed registry. 
This information will be publicly available and everyone can get acquainted with it before buying a car. This will make life easier for honest sellers and drive the unscrupulous from the market. In addition, garbage on wheels will really be recycled, not repaired, which would resell, and ordinary cars will be sold at a stable and affordable price. 

Distribution:

On account of the distribution of the remaining 400 million tokens, we can say the following: 250 million are reserved for founders, a team and consultants, they will be blocked for 2 years; 87.5 million will be sold after 2 years of the platform, 50 million will go to project consultants and 12.5 million will be reserved for early investors with a lockout of 3 months after the end of the marketing campaign. 
The funds received after the ICO will be spent as follows: on the further development of the campaign and its development, on the salary of the project team, accounting, marketing, legal costs, the development of the VinChain network and staff training. 

 ICO Information & Team

The ICO starts on March 22, 2018, and continues until April 15, 2018. A total of 600 000 000 tokens are available. The funds will be utilized for the purpose of VINChain product development and marketing expenses. The team comprises of experts from the various domains, such as Automotive, sales & marketing and technology. We believe that they would deliver their promises which looks exciting.

 In conclusion, I want to say that this promising project has very good reasons to become an advanced one and to make a revolution in the world sale of supported cars. Creation of a transparent market for the sale of cars will allow you to be confident in your purchases and improve the mechanism for setting prices, because every car will know absolutely everything and each will be set a fair price. This will change a lot for those who produce cars, because those cars that have served their will be sent to the landfill and the population of cars will be reduced, but the quality will improve. Therefore, people will want to buy new cars after selling those on which they have already traveled for a while, but could sell for real value. 

 Website: https://vinchain.io/en
Whitepaper: https://vinchain.io/files/white_paper.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=2349186.0.all
Facebook: https://facebook.com/vinchainio/
Twitter: https://mobile.twitter.com/VinChain_io
Telegram: https://t.me/vinchainio 

AUTHORED BY:  KochnevAr  https://bitcointalk.org/index.php?action=profile;u=1803051