Feel free to ask any questions, leave your comments, wishes and suggestions regarding the Google Translation at our Telegram Chat.
Like this video
Share this ICO with friends and colleagues
VinChain
Decentralized vehicle history
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.
We also have longstanding functional and profitable businesses that currently generates profit. EpicVin.com became one of our partners
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 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.
We are also partnered with many other companies in this space, and by the time our first solution comes to the market we will be able to offer a massive amount of value. Some of these companies include AutoInspect (a vehicle inspection company), VinInspect & VinGurus (vehicle history reports), and ABetterBid (Used and salvage vehicle broker). This is not counting the many companies that we will partner with, as we progress towards our ICO.
Through our partnerships we already do business with the largest clean and salvage title vehicle auction in the united states, Copart.com (NASDAQ - CPRT). EpicVin is their official Vehicle history report provider.
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.
Compared to other ICO projects that are coming out on the market, no one comes close to the amount of experience that we have. Our teams tokens are vested for 2 years. We're very highly dedicated to our mission.
We will have our blockchain solution by March and we are planning on generating revenue by the end of the ICO. By the launch of our solution, our partners will accept our tokens as a form of payment. Each report through our partners will cost 25 tokens. We are confident that our solution will triumph over others on the market.
Distribution
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 for 2 years. Will be used as a reward mechanism between first participants of the system, application, and discount programs. Smart contract will ensure the ban on sale of a turnover.
50,000,000 => are reserved for the advisory board. If all tokens will not be distributed it will be burned.
12,500,000 => are reserved for early token purchasers with a sale restriction of 3 months after the ICO ends.
Gordon HansenICO team member replied on 23 Feb 2018
Our mission is to provide 100% Trustworthy Vehicle History. The system blockchain based, which will guarantee that the information in it has not been faked, changed, or deleted. The blockchain guarantees full transparency and builds trust in the system. Information is captured from country registries, insurance and leasing companies, different partnered services, private registers, paid APIs, and certified members. Information is also captured directly from the vehicle, so the data is live and updated in real time.
When a driver generates data, it belongs completely to them. They get paid every time their data is used. The payment for their data also happens on the chain, and this ensures that no one can take the drivers data without their permission. The blockchain helps ensure that the data actually belongs to the driver and that they get paid accordingly.
Our Alpha solution can be found here: https://vinchain.io/report/check
Business strategy, investment deals, investor relations Rated on Apr 2, 2018
4
4
3
4%
The main problem of this market is not to store reliable information, but to collect it reliably with the help of trusted devices or trusted people. And blockchain in this, unfortunately, can not help in any way.
Thank you for taking the time to review our project. Please let me know if you have any questions or doubts that would turn your review to 5/5/5 I will be happy to discuss [email protected]
ICO Advisor, 50+ ICOs since 2016, Founder and Publisher of Blockchain News, partner Blockchain Partners, founder Cryptoassets Design Group Rated on Mar 8, 2018
4
4
4
4%
I don't understand why so-called blockchain experts think that putting vin numbers on a Blockchain is stupid. Supply chain, provenance etc. Putting real world assets on the Blockchain is one of the most common and sensible uses of the technology. Good team. Good idea. Decent whitepaper. Some dumb reviewers.
I couldn't agree with you more. Thank you for taking the time to review our project. Please let me know if you have any questions or doubts that would turn your review to 5/5/5 I will be happy to discuss [email protected]
Blockchain Technology Consultant Rated on Dec 23, 2017
4
4
4
2%
This rating's weight is reduced by 50% as there is no review added.
Alex MilesICO team member replied on 12 Mar 2018
Hello Nathan,
Thanks for taking the time to review our ICO - Please let me know if you have any questions about VINchain. What convinced you to leave us a 4/4/4 instead of a 5/5/5? I appreciate any constructive criticism as it can help VINchain improve. Thanks!
There is a real problem, it needs fixing . Team have industry knowledge and connections to get POC testing done and execution. Adoption will not be easy but of they get in bed with the right partners could be very interesting
We have a great deal of partners (8 to this data and counting) who are already participating in the system. When we launch they will accept our tokens as a form of payment and their reports will be verified by our blockchain. Mass adoption would facilitate critical mass to make this solution a household name, but this goes for literally any other business. Almost everyones goal is to get to critical mass, so this is not a downside of the business, but rather just the name of the game. Its all about how we plan to get to that point. We are approaching the auto industry from our existing partners first, followed by the dealers and consumers, then followed by the OEM’s. We have a strong advisory team that is well connected with all of the players in the auto industry. Everything ranging from OEMs to Dealers
Please let me know if you have any questions or if I can clarify any points for you :) [email protected]
Founder - Crypto Society, ICO Advisor, Marketing Consultant, DayTrader, BlockChain Enthusiast, Rated on Mar 13, 2018
4
5
4
3%
I believe if VinChain can pull off what they have set on their road map then this could definitely be a industry disrupter. I could see this project gaining mass adoption but not anytime soon, in my opinion it would take atleast 2-5 years. If anyone was to contribute to this project with their funds, take note this is not going to be a quick short term flip. Always do your own research first.
Securities and Banking law | Former US Marine JAG Officer | Complete legal advisory Rated on Dec 25, 2017
4
4
4
1%
This rating's weight is reduced by 50% as there is no review added.
Alex MilesICO team member replied on 12 Mar 2018
Hello P.B. Stanton,
I couldn't agree with you more. Thank you for taking the time to review our project. Please let me know if you have any questions or doubts that would turn your review to 5/5/5 I will be happy to discuss [email protected]
Chartered Accountant, Marketing and Operational Advisor, Community Manager, Investor, Blockchain Manager Rated on Mar 20, 2018
5
4
4
3%
Team is pretty good, many members from different countries and also many advisors that can help the team to overcome on difficulties the team may face during the developing. Key roles of the team have also applied and passed the KYC test on Ico bench. The product would like to solve a real issue and the blockchain can help in this sense. Good luck to the team and investors.
ICO Analyst|Content Writer|Trader| CFA Charterholder|Consultant Rated on Mar 14, 2018
4
4
4
3%
As mentioned by others, the success is really dependent on mass adoption of this technology by the secondary market, or used car industry. With the experts on board, it seems car auctions are the initial focus. Both customers and dealers would need to adopt this tech for it really take off. New car manufacturers could use this technology as well, but I feel auto makers may collaborate and create their own blockchain for vehicle data. I see this as a moderate to high risk project. You will need great partnerships and marketers to really make this succeed. Good luck and wish you best on this project! I can see the vision here and I can see how the technology could really disrupt auto fraud.
CEO of TimeBox | Serial Entrepreneur | Expert of Blockchain, Gaming, ICT Industry In Greater China and Northeast Asia Rated on Feb 5, 2018
5
4
4
3%
Good team and excellent idea! Against human evil side, fraud, is one of the Blockchain powerful weapon! The key to success is buildup reputation of your platform. With the coming regulations for vehicle in Europe which you mention in WP, will speed up your success from my point of view. Good luck!
Cryptocurrency Speciallist, ICO Advisor & Angel Investor Rated on Mar 29, 2018
5
5
5
2%
First, it seemed to me just another simple idea, but after some study, I found this is definitely not simple. Great team and fully working App with tons of functions. And the the business model is also great. VinChain has great potential! Good luck!
I couldn't agree with you more. Thank you for taking the time to review our project. Please let me know if you have any questions or doubts that would turn your review to 5/5/5 I will be happy to discuss [email protected]
Early Bitcoin Holder / Ethereum ICO Investor Rated on Feb 5, 2018
4
5
5
2%
The team is ready to answer any questions you arise, without any hidden words.
They are ready to make this project a working platform. I can't agree with all the members of advisory boards but overall it looks solid.
The vision it is great and solves a great lot of issues in real-life situations on second-hand car markets.
The product already has an MVP and ready to be delivered as promised by the looks of the whitepaper and the project itself togheter with their competition, they have a good margin of profit and still can go a bit over-priced without affecting their competing edge.
CTO @ Blockchain Advisory, Founder @ Immersive Authority Rated on Feb 13, 2018
4
4
3
2%
I've looked at the whitepaper and there's just too many questions.
"Each report through our partners will cost 25 tokens, which is equivalent to $1.25, as compared to the $8.99 that it currently costs (on EpicVin)" - this is at 0.05c per token if ETH is $1k. Plus there is the $3 transaction fee mentioned. If ETH rises to $7200 (or less with transaction fees) does it mean that this competitive edge doesn't hold?
Will these tokens be listed on any exchanges (not mentioned in the whitepaper) and if there is 10x growth in token price, is this platform already more expensive than competitors?
There seems to be a mashup of too many ideas and I can't see how it will be executed. Remote controlling engine start via an app, nearest station locator, insurance claim assistance ...
It needs a huge ecosystem of vendors and consumers to subscribe to this plan. Apart from the auctioneering businesses, who else has bought in to the idea?
I also don't understand what processes are in place to verify that data input into the system is correct, not falsified. What method of consensus? I see SSL is used to identify the user, but who checks that the info the user provides on the vehicle is correct?
Transaction fees can fluctuate, and most likely will increase over time.
No clarity on what the off chain technical architecture will look like. Where will the data on ipfs reside?
Also, too much reliance is pushed to people to contribute data. Gamification if employed only works to a limited extent. Will consumers really contribute on the scale you are looking at?
Updated upwards based on further feedback from the team.
The data should be available from OBDII devices that should be standard in many cars built in the target market.
Report prices will be regulated (by token or fiat).
Tokens will be listed on an exchange, and they've clarified parts of the technical architecture.
The scope is ambitious and a lot of parties need to come together, lots of software is required, and a lot is needed for systems integration and user change management.
Gordon HansenICO team member replied on 23 Feb 2018
The amount of tokens that are necessary for a single report is regulated automatically by us; so no matter how much the value of the token fluctuates, the relative price of the report is the same. Furthermore the client does not have to be a crypto export or even own tokens to purchase a report. They can purchase a report with fiat, and it will be automatically converted into crypto on the backend, without the customer knowing what happened. Crypto is known to fluctuate and we are fully expecting it to, especially in the early days.
The tokens will be listed on exchanges 4-6 weeks after the end of the ICO.
The idea is not mashed up at all, and rather straight forward. We collect data from traditional sources (think carfax) and with the OBDII devices we also collect data directly from the vehicle. Since the data is captured directly from the vehicle, the user does not have a chance to falsify the data. The user is verified when they link with VINchain to prevent spam entering the system. Also thew driver is not the one who inputs the data, they simply choose what categories of information get shared from the OBDII device with VINchain. The data that the driver generates belongs to them. We simply provide them with ways that they can utilize that data to the utmost benefit to them.
One way that is of benefit to the driver is if they choose to share data with their insurance company they can save up to 30% on their premiums and can participate in pay as you drive programs.
Furthermore this data is also valuable to other businesses. They will have the opportunity to pay the driver for their data, in order to learn more about their customers and send them targeted notifications (also with the users permission).
For example, local repair shops can send a service offer to a driver at the exact time when they need an oil change. This data is useful outside of the automotive industry as well. For example if you are a breakfast place, you can learn about drivers who routinely pass by your place of business on their way to work every morning, and incentivize them to come by for a free coffee. These are just some of the examples - the amount of practical applications for this technology are endless.
Data is gold. We simply help the driver monetize their data. And by participating in the system we acquire a complete and total vehicle history on that user. Again these are all possibilities of implementing OBDII technology.
The value of the network is proportional to the size of the network, but that does not mean that we need to have a massive amount of vendors singed up for the system to be valuable to the driver. Simply starting out by being able to save money with their insurance company, get diagnostic data on their car, remotely controlling their vehicle, and optimize their driving and maintenance costs is already plenty to start with.
Also just collecting data from traditional sources already offers a great deal of value to the consumer. Collecting data from the driver is almost an extra bonus. There is no need for there to be a huge network of connected drivers for the system to work.
The blockchain has a DPoS consensus mechanism and is being built on top of Graphene. Data that is stored in servers is hashed and the hashes are stored on the chain.
Gordon HansenICO team member replied on 23 Feb 2018
Team:
1) Every member of our team has automotive experience - some even with several decades of working in the auto industry. Just one of our teammates, Jurgis, has over half a BILLION dollars in annual business turn over from his auto companies!
2) We have a very strong technical / blockchain experience - Just look over our website or our WP almost half of the team is a blockchain expert!
3) We have world-class advisers! The most recent addition to our team is the CFO of Audi
We understand that just like any startup, it can only succeed with mass adoption. Our approach to the market starts from widespread dealer adoption, from which the drivers will follow. After the dealers and consumers, the OEM's will follow. This explains why we chose our Advisers, mos of whom are automotive experts with connections to all of the top dealers.
Blockchain Solutions Advocate and Strategy Advisor | Founder of Blockchain in Europe LinkedIn Group Rated on Feb 27, 2018
5
4
4
1%
This rating's weight is reduced by 50% as there is no review added.
Alex MilesICO team member replied on 12 Mar 2018
Hi Brian,
Thank you for taking the time to review our project. Please let me know if you have any questions about VINchain, I will be happy to discuss [email protected]
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
CEO. Technology enthusiast and blockchain expert who graduated with honors from Florida International University – a top ten business school – while studying management information systems
Founder, Chief innovation officer. The founder of EasyExport.us, one of the top 10 companies in the Inc. 500 with an annual turnover of more than $45 million
Full Stack Developer. An expert in implementing cutting-edge technologies and solutions, full-stack developer with many years of team leading experience
Chief Financial Officer of Audi of America and Audi Canada. He has a great experience in managing the automotive industry and years of working in this sphere
Founder and Executive Director of the Centre for Blockchain Technologies. Digital Economist specialising in P2P financial systems. Advisor on blockchain in EU Parliament and the United Nations, founder and Executive Director of the Centre for Blockchain T
President of Alleghany Management Inc. Had been working as Senior Vice President of Volkswagen of America where he held P&L responsibility for parts and accessory sales and marketing, customer satisfaction and field force management
VP AutoNation e-Commerce and Customer Communications. Ed has over 30 years’ experience in marketing and advertising with over 20 years in Automotive marketing
