Project VinChain has announced the addition of Auto Inspect LLCand EasyExport Chief Executive Officer and Founder Andrei Krainik to its roster of strategic partner. Krainik, who joined Project VinChain in October, is well known in automotive salvage circles and has nearly 15 years of experience guiding Auto Inspect LLC and EasyExport.
The purpose of Project VinChain is to create a decentralized, immutable, transparent, secure and reliable vehicle lifecycle repository. A blockchain database, VinChain records all information pertaining to vehicles. For each vehicle, the information accumulates during the entire period of use. This history is transparent and accessible to everyone.
According to Krainik, Project VinChain is an attempt to resolve the issue of asymmetric information in the arena of buying used vehicles.
“Ultimately, if the issue is not resolved, we are in danger of seeing the entire used car market disappear,” Krainik said. “Without full transparency for buyers regarding the vehicles they are bidding on, good sellers and quality vehicles will dwindle until both are gone. With Project VinChain, we have the opportunity to rectify this issue before we reach and fall off of the proverbial cliff.”
After earning his bachelor’s in engineering from the Belarusian State University of Informatics and Radioelectronics in 2000, he founded Auto inspect LLC, and EasyExport. EasyExport ranks among Inc. 500’s Top 10 companies with annual turnover of more than $45 million. While EasyExport offers individuals the opportunity to purchase salvage vehicles without a license immediately upon registering via Copart Auto Auctions throughout the U.S., Auto inspect LLC allows individuals to determine whether the used car they are considering purchasing has had major repairs or has been in an accident that will not make it worth purchasing.
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