We’re always striving to innovate and improve the automotive industry, and today we’re excited to announce that we’ve made a huge leap in doing just that! VINchain is now able to provide its blockchain as a service (BaaS) to other companies looking to embrace blockchain technology. We are doing this by allowing companies to create custom tokens on our platform. This will simplify the process for those who already want to start using tokenization in their businesses and want to receive all advantages that blockchain technology can offer.
Why are custom tokens so great?
Tokens are innovative because they take a system that is already proven and give it new possibilities. Tokens are similar to rewards points but can be traded for other things (goods/services/ other tokens/money/ etc.) and they are under the complete and total control of the token holder. This means that an automotive business can create a custom token on the VINchain platform and use it as a reward system for their customers.
Who will benefit?
VINchain custom tokens will benefit the whole automotive industry. Custom tokens will help manufacturers get more useful insights about their customers and will drive more business to their certified dealerships. Custom tokens will help dealerships retain more clients for service and increase repeat sales. Insurance companies can increase revenue by providing token rewards for UBI (usage-based insurance) which in turn allows them to offer better rates, which in turn brings more clients, which increases revenue. Fleet tracking companies can use custom tokens to increase customer satisfaction and get more valuable data by rewarding their customers for providing that information. The fleet tracking companies then in turn aggregate and sell this data, which increases their profits. In short, everybody benefits.
Apply now to create your custom token
Let us know if you are a business who wants to embrace cutting edge blockchain technology. Get on board and lets revolutionize automotive industry together!