Vinchain is a decentralized vehicle database that will collect all the information about the vehicles. The idea of our project is to solves the problem of asymmetrical information in the used vehicle market by creating a decentralized, transparent blockchain database that records all information pertaining to vehicles.
Blockchain technology can not hold such amount of information that we are going to collect, so we decided that we are going to store the majority of information in centralized bases, then create a hash on each of them and store that hash in a blockchain. After a client will make a request on a particular information he will receive it from the sentral bases and he will also receive a hash so he will be able to check that the information hasn’t been changed since the moment of adding it to this central base.
An ICO (Initial Coin Offering) is a means of crowdfunding via use of cryptocurrency. In an ICO, issued cryptocurrency is sold in exchange for other cryptocurrencies or legal tender coin.
We are launching this ICO because we need investments for the fastest development and spreading of our project. We have been already working on it, and after we reach the minimum of $5 million we are going to develop and spread our project through the US as fast as possible. But if we will manage to raise more money we will start in Europe as well and really soon in Asia. So we are launching ICO now as we truly believe that automotive industry need such a technology and we want to spread it as fast as we can.
This ICO is open to everyone so anyone can take part in it without any restrictions.
We will consider this ICO a success if we reach our target of $5 million. If we do not attain our minimum threshold, all collected funds will be returned to investors. We have set a maximum amount of $34.5 million, in which case over half of the tokens will be distributed. We are aiming to spread our project all the world, but we will start from USA as this industry is well developed there and our partners have experience on US market. But if we will raise the amount of money closer to the hard cap we will start not only in USA but in Europe as well. So that is why we are making ICO as we want to make the spreading of our project faster, that's why we need investments.
The main public sale begins on March 22nd, 2018, and ends on April 15th, 2018. The sale will terminate early if we reach our maximum limit.
You can get tokens by entering data into the system. They are also will be available for purchase in an external cryptocurrency exchange after we finish our ICO.
The price of a token will grow because of its demand due to the increasing quantity of counterparts and limited amount of tokens. We also will be taken a minimum commission from each transaction for the development of a system. Our clients will be able to use VIN tokens for different systems and services in the future as we will have a lot of partners and they all will be taken tokens as a payment method.
Yes, VIN tokens can be traded at exchanges for other cryptocurrencies. Straight after the end of ICO our tokens will be available at the exchanges.
The affiliate will receive 10% VIN from the amount of VIN purchased with their referral links. Refer a friend and get 10% from the first contribution. You need to create an account on our website. In your account you can copy a link( specially for affiliate program) and send it to your friend. When he will make a purchase following this link you will receive 10% from his first contribution.
There is a full instruction on how to do that. Click here.
You can sell tokens after the end of ICO. Our tokens will be distributed on the exchanges so you will have an opportunity to sell tokens there.
The price of ETH has doubled since the time we started. We made our plan with ETH max cost $350 and since then the price has raised a lot. So we decided to double the amount of tokens you get. And even if you bought tokens before we made this announcement we still will double the amount of tokens you get as we want it to be completely honest.
To make it completely fair, those who have already bought our tokens will receive double after the presale (same terms for everyone). All participants will receive their double after the end of presale as we can not change the conditions of smart-contract during the presale.
As long as our presale has already started we can not change the terms of our smart-contract, so while you are purchasing VIN tokens through our website you will still receive the previous amount of tokens, but when our presale is finished we will send you same amount of token as you have already bought (we will double the amount of tokens you own).
1. We have some competitors in the same sphere but we have far more experience in this. We have great partners who have been in this industry for more than 10 years.
2. We are going to use information from different sources such as dealers, manufactories, services, partner bases and many more.
3. We are aiming to spread our project all the world, but we will start from USA as this industry is well developed there and our partners have experience on US market. But if we will raise the amount of money closer to the hard cap we will start not only in USA but in Europe as well. So that is why we are making ICO as we want to make the spreading of our project faster, that's why we need investments.
4. But no matter whether we gonna make it or not, we will still be working on our project( in fact we already building blockchain now) it will just take us more time.
5. And we are building our own blockchain and not using Eth platform not to overload the system so it wouldn't be a problem for anyone.
We will have two ways of working, first one is when manufacturers are ready to share information and they will give it to us, we will store it and make a hash that we will be stored on a blockchain Second way is when manufacturers are not ready to share information so they will store information and will give us just a hash that we will store on a blockchain, and when we will need to prove information they will give us a piece of information according to the hash.
The provider of data will be given tokens every single time when a request on a particular data is made. The provider will receive tokens in a particular amount depending on the value of the information he gave us comparing to the whole information about the car.
Our partners( who will sell our reports) will give us 25 tokens for each report. We will have small part from this 25 tokens, and the rest will be distributed between information providers. We are interested in developing our project, so as tokens will grow in price we will get more money( same small part from 25 tokens, but with the growing popularity of reports and growing value of tokens it will be good money).
All the unsold tokens will be burned.
Car owners are very much incentivized to plug in these devices. Every time their information get shared, they get paid. That has never been possible before. The drivers are in full control of their data. Also since they can share this information with insurance companies, the insurance companies in their turn will lower premiums. Also local businesses can offer discounts to connected drivers who are nearby that are in need of something specific. Furthermore, drivers will be able to see everything that is happening internally in their own vehicles.
We have a team of over 120 experienced developers working with us to help build our own blockchain. It's Emercoin development group. They have been doing an excellent work in the Blockchain Service Platform since December 2013.
All countries can take part in token sale, there is no restriction.
No, we don't have a minimum amount, but the amount needed to check the vehicle history is 25 tokens.
You can check the vehicle's history which is stored in decentralized Blockchain database with the help of token. Also the main role of token is to make the system absolutely clear and honest when it comes to the payments between a client and a data provider. Also with time we believe that our system will be extremely popular and clients will be able to pay for different services with our tokens because of many partnerships that we are going to have.
It will be provided by manufacturers, auto services, banks, leasing companies, DMVs, specialized databases, etc. Besides, we work with Epicvin.com and they are ready to share with us. OBD apps will be a great sources of data as well. We are aiming to make as many partnerships as it’s possible so we will have all the information related to the used car.
The information will be from certified sources only. If somebody from our suppliers we work with provides incorrect information, it will be marked as wrong in the Blockchain and the provider will be banned from providing us with the data in the Future. Also we will use special technology of machine learning so all the information will be verified by the system and all the irrelevant data will not be taken into the account.
The price depends on how fast will you buy our tokens. First amount from 12 500 001 to 100 000 000 tokens will be sold at a price 1 ETH – 12.000 VIN which is +25% bonuses , after that from 100 000 001 to 250 000 000 tokens will be sold at a price 1 ETH -10.910 VIN, and from 250 000 001 to 612 500 000 tokens will be sold at 1 ETH – 10.000 VIN. So hurry up in order to buy our tokens at a better price. The earlier you buy the more bonuses you have!
Our project is based on using blockchain as a decentralized data storage system. With the help of it, you will be able to have efficient and fully proved information about the car. We will unite data providers to collect all the information which is the biggest advantage in comparison to a centralized system. With the help of blockchain it will be absolutely impossible to modify information for your own purpose, so client can be 100% sure that the information is transparent and reliable.
We believe that our project will be profitable for all the automotive industry starting from car manufacturers and banks to car dealers and customers. Car manufacturers will be able to develop marketing and production plans with the help of our system, decide on warranty service or refuse it. Our project will help to build loyalty and trust-based relations between dealers and buyers due to the clarity of information. Dealer will be able to accurately determine the market value of the car. Insurance companies will be able to identify fabricated accidents and protect themselves from scammers. Banks and leasing companies will be able to know the actual price of a car when giving loans. Service stations will be able to carry out an inspection and detect hidden defects more accurately.
During ICO you will be able to buy our tokens not only with ETH but with lots of others crypto currencies and FIAT as well. It will be possible to make a purchase with Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Waves (WAVES), USD, EUR and GBP.
Gas limit is a small commising that you can set for your money transfer. And due to the business of ETH network right now we recommend to set this limit up to 350 000 so your transaction will be successful.
If you are buying for up to 2,5 ETH you can make such a purchase without submitting all the documentation. But if you are going to spend more than you need to submit all the documentation first.
You can’t do that as your tokens will be sent to the address you bought from. And you will not be able to add your tokens to exchange wallets. There are few wallets that we recommend. You can read more about that in the instruction.
There are 1,000,000,000 utility tokens. And the distribution will look like:
- 600,000,000 => are distributed among ICO members;
- 250,000,000 => are reserved among founders, consultants and other
members of the team with a sale restriction of 2 years;
- 87,500,000 => are reserved with a sale restriction of 2 years;
- 50,000,000 => are reserved for Advisory board. If not all tokens will be distributed it will be burned.
- 12,500,000 => are reserved for early investors with a sale restriction of 3 months after ICO ending.
We will refund all the money. That is written in our whitepaper. If we will not manage to reach $5 million during ICO we will return all money collected to investors.