VINCHAIN is a decentralized blockchain based used vehicle database that provides users all relevant information pertaining used automobiles.
|Description||VINCHAIN is a decentralized blockchain based used vehicle database that provides users all relevant information pertaining used automobiles.|
|White Paper URL||https://vinchain.io/files/VinChainWhitePaperEn.pdf|
|ICO Launch||2018/02/01 05:00|
|ICO Closing||2018/04/15 05:00|
|Token Platform||ETH (ERC20)|
|Coin Price||1 ETH = 20 000 plus 25% stage bonus|
|Funding Cap||23250 ETH|
|Coins Offered||600,000,000 tokens|
What Is VINCHAIN?
VINCHAIN is a blockchain based decentralized platform that intends to provide users the information they need about the automobile industry (used vehicles). It serves as a vehicle database which holds all information concerning used vehicles in form of an auction sheet that provides users complete history of vehicles including accidental history, mileage drove, repair & maintenance etc. The idea behind VINCHAIN is simple yet innovative and that is to create a transparent blockchain platform that can be accessed by users all across the globe for the verification and authentic information about used vehicles.
VINCHAIN is a decentralized blockchain based used vehicle database that provides users all relevant information pertaining used automobiles. Currently, there is no such system that can provide users with accurate and transparent information about the used vehicles. Every year people from all across the globe spend millions of dollars to buy used vehicles. Unfortunately, a large number of people gets deceived by involved parties including dealers and auctioneers and they end up buying an accidental car. The platform brings an innovative solution by acting as a transparent blockchain based used vehicle database to enable users to buy best vehicle deals.
How Does VINCHAIN Work?
Let us tell you how does it work, first of all buyers need to get themselves registered on the website of a service provider. A mobile app can also be used for registration purposes. As soon as the registration process is completed and buyers profile gets verified, they can check the transit availability of the vehicle by entering its Chassis number or VIN number. The requested information gets verified by the service provider after processing all relevant details across the databases of all other service providers and a short report is generated for buyers without any cost. The short report contains an overview of the information inside the detailed report. If the report appears satisfactory to buyers in a way that it intends to contain the information they needed, then buyers may proceed to acquire the full report for a nominal fee. Further, if buyers wish to buy the complete blockchain passport of the vehicle, they may do so by making the payment using the pre-defined payment method.
Earn VINCHAIN Tokens
To earn VINCHAIN tokens, investors need to contribute to the crowd sale of the ICO which has been started since February 2018. People could also have earned VINCHAIN tokens by participating in pre-sale phase of the ICO. As per the information available on the official website of the ICO, people who wish to earn VINCHAIN tokens need to get themselves registered on the website of the ICO. By entering their name and email, they also need to agree to the terms and conditions of the ICO. Please note that by checking in the terms and conditions box you confirm in writing that you are not the resident of Sri Lanka, Trinidad, Iran, Syria, Iraq, Tunisia, Yemen, Tobago, Vanuatu, Democratic People’s Republic of Korea, Herzegovina, Ethiopia, and Bosnia.
Buy VINCHAIN Tokens With E-Wallets
The platform is based on ERC20 tokens. People who wish to buy VINCHAIN tokens need to have an e-wallet first. Because investors who plan to buy VINCHAIN tokens are required to send ETH using their e-wallets so in return they receive VINCHAIN tokens in their e-wallets. So for everyone who wants to buy VINCHAIN token e-wallets is a must. People can also buy VINCHAIN tokens in exchange for other cryptocurrencies from supported exchanges all around the world.
The ICO Distribution
As per the information collected from the official website of VINCHAIN, it had a plant to launch its token sale on February 1st, 2018. We assume it to be the same for our review purpose. The ICO is expected to remain live for the public sale until April 15th, 2018 or it may get closed earlier if the target funding is reached. There will be a total token supply of 600,000,000 tokens. The ICO plans to observe a soft capping of 3300 ETH. The ICO has defined its hard capping as 23250 ETH. The starting price of the ICO is expected to be 1 ETH = 20 000 plus 25% stage bonus. The ICO accepts ETH, BTC, LTC, and Dash as its accepted form of currencies.
The ICO plans to distribute its tokens under the following proportion;
- 600,000,000 are planned to be distributed amongst the team members of the ICO
- 250,000,000 are planned to be distributed to the founding members and consultants of the ICO with a lock period of 02 years.
- 87,500,000 are planned to be distributed amongst the partners and counterparties of the ICO
- 50,000,000 are planned to be distributed to the advisory board of the ICO.
- 12,500,000 are planned to be distributed amongst early investors of the ICO.
Please note that the ICO will burn out all tokens that will remain unsold.
The ICO plans to allocate funds generated through the ICO to different departments mentioned below. However, the ICO has not shared exact percentage of the fund’s distribution.
- Development of the Project
- Activity Expenses
- Accounting expenses
- Recruitment expenses
- Marketing Department
- Legal Affairs Department
- Partner Projects Integration
The ICO has following team members;
- Alex Miles is the CEO and Marketing strategist of the ICO
- Andrei Krainik is the Founder and Chief Officer for Innovation at VINCHAIN
- Aleksey Listopad is the CMO at VINCHAIN
- Jurgis S Plikaitis is the Partner of the ICO
- Antonina Binetskaya is the CTO at VINCHAIN
- Pavel Yeschenko is the Blockchain Developer at VINCHAIN
- Michael Zhalevich is also a Blockchain Developer at VINCHAIN
- Alexandr Onyskiv is the Software Developer at VINCHAIN
- Konstantine Perzhukou is the Advisor for Software Implementation at VINCHAIN
- Vladislav Vasilchyk is the System Analyst at VINCHAIN
- Eugene Koval is the Advisor for Software Development at VINCHAIN
- Ivan Usovich is the Stack Developer at VINCHAIN
- Sergei Pakhomov is also a Stack Developer at VINCHAIN
- Stacy Denver is the Sales Head at VINCHAIN
- Sergei Shostyr is the UI/UX Specialist at VINCHAIN
- Anastasiya Kazakova is in CUSTOMER SUPPORT at VINCHAIN
- Gordon Hansen is the COMMUNITY MANAGER at VINCHAIN
- Ethan Clark is the SEO EXPERT at VINCHAIN
- Pavel Zakharevich maintains Community Relations at VINCHAIN
Invest In VINCHAIN
After a careful review of the ICO, we hereby conclude that VINCHAIN is one of the best ICOs we have ever reviewed. The reason why we say so is the most wanted idea of the ICO that is not only realistic but is equally beneficial for the masses. VINCHAIN is going to be the market leader to deal with the information concerning used vehicles. We believe people should invest in VINCHAIN with full confidence.