About VinChain 

VinChain is a project that seeks to incorporate all information about used vehicles in the blockchain. This information can be accessed by users all around the world in a transparent, reliable and efficient way. 

The project will unite all data providers of used cars and will give the user an uninterrupted vehicle record that will be decentralized. By contributing to the repository in the blockchain consumers can also increase the value of their vehicle at the time of sale with the help of valuable tracking devices.

The project will overcome the disadvantages of a centralized system and allow users to store VIN data on the blockchain that will ensure complete data invariability. 

VinChain tokens will allow you to pay for request on the blockchain, these tokens will in return be distributed among information providers depending on the value of their inputted information.

 This project will be of immense value because:  

1. Forgery will be a thing of the past. 
2. Our roads will be safer with valuable vehicle information. 
3. A trusted base of dealers will be created and united by the idea of making the market transparent to customers.

VinChain has already partnered with EpicVin and by the time the project goes live they will be fully integrated into the system. This is very good seeing that they already have a functional system in place. 

VinChain has also partnered with many other companies and will immediately provide value once the project platform is launched. Some of the partner companies include VinInspect, ABetterBid, Autoinspect(inspection company) and many others. As this project progresses towards their ICO more companies will be incorporated into the project. 

Copart.com, the largest clean and salvage vehicle auction in the United States has also partnered with the project. By the time the project is launched, AutoInspect will contribute their repository of over 300million vehicles into the database. 

The Team

Looking into the Linkedin profile of the team members it can be appreciated that all of them are well experienced in their fields. Compared to other ICO projects they have some of the finest members in terms of the caliber of experience they carry. 

Jurgis Plikaitis a strategic partner at VinChain is also the CEO of EpicVin, EasyExport, ABetterBid and a whole lot of automobile companies. His turn over alone is up to half a billion dollars annually. Andrei Kraink, founder at VinChain and Alex Miles are loaded with the required skillset to make the project successful.

The Financials

 For investors, there are a lot of positives to take with this Pre-ICO. Firstly, VinChin is trading with the name “VIN” and the ICO started on Feb 02nd 2018 and will end by April 15th 2018. Investors can purchase the ICO with the major cryptocurrencies (ETH, BTC, LTC, Dash) while the price in ICO is 1 ETH = 20,000 VIN plus a stage bonus of 25%. 

There will be 600 million tokens available for sale representing a 60% distribution among the public. This is a good sign of a project that wants the larger share of the company to be in the hands of the public and not a single individual. 

A very soft cap of 3,300 ETH has be set which translates to about $1.5 million in today’s exchange rate( bound to keep fluctuating). A hard cap of 23,250 ETH is rather on the high side, but we are aware hard caps are rarely met.

Roadmap

 I am impressed about the fact that they already have Alpha testing versions of the project. The Alpha version of the VINchain App was launched in February 2018 and seems to be working efficiently. However, we still need to wait for the Alpha version of the VINchain blockchain.

All in all, im quite impressed about the progress of this ICO.

What do you think about it?

Let me know in the comments down below!