VinChain

So, another ico for 'solve car problem...'
Why use the blockchain?
Team is ok

This is an interesting project but I like it. To be successful it's going to need adoption. I look forward to watching how VinChain executes.

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.

Seems like a good plan to put vin numbers on blockchain to end automobile fraud on mileage ,history etc.

Adoption and execution is the key here.

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

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.

Good team and could help reduce fraud related to the car industry.

Just ordinary idea for car market

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.

Interesting project will see where it goes.

Is there a vesting period to align team members with product delivery and an MVP?

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.

Team lacks serious automotive experience beyond the one auction company. No Dealer Principals, no one with Manheim experience.

Project can only succeed with massive adoption by automotive and consumer community.

It’s a brilliant idea, but the vast scope will make it tough for VinChain to succeed.

Large team, average vision can improve in some areas, great product. Wish you the best of luck.

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!

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!

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.

Vinchain is a overall great project because of there strong team with CEO Alex Miles.

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.