Getting a new car is an exciting adventure – but how do you know it’s really safe to drive? If you’re buying a car, you can lose money because you don’t know if the car has any unknown problem. With the VinChain app, you can be sure of 100% accurate and reliable information about the car you’re going to buy, making it safe for you to drive.
vinchain is a decentralized blockchain database that records all relevant information pertaining to vehicles. This information is transparent, reliable and accessible to everyone with access to the VinChain blockchain system.
Blockchain database consist of several decentralized nodes, and each node participates in administration. All nodes verify new additions to the blockchain, and are capable of entering new data into the database. For an addition to be made to the blockchain, the majority of nodes must reach consensus. This consensus mechanism guarantees the security of the network, making it difficult to tamper with.
vinchain captures information from country registries, insurance and leasing companies, different partnered services, private registers, paid APIs, and certified members. It also captures information directly from the vehicle, so the data is live and updated in real time.
The VinChain app makes the usage of vehicles as safe as possible with deep analysis, and diagnostic monitoring, so you can drive with confidence. It allows you to get the best offers for car maintenance, help you find your car on a huge parking lot, and you can even remotely control your vehicle. In addition, Vinchain collects vehicle usage and behavioural data, helping you to understand your driving style and how you can save money by driving more economically.
VinChain aims to create a block with different levels of access and information protection. It also aims to unite participants in the automotive industry, such as manufacturers, insurance companies, dealers, service stations, and developers of navigation systems into a single ecosystem for data exchange purposes, as well as create an infrastructure and provide direct access to the database for each market participant.