Overview - RFVIN Car verification – Blockchain
WhitepaperJanuary, 2022By: Youness RidaniWe will be constantly updating this whitepaper to answer any questions that our clients and potential investors may have. If you require any clarification and a full understanding of the RFvin project before investing in it, we will be able to provide information through email, live chat, and other methods of contact if needed.If you’re missing out on any important information, please contact us through the contact methods provided at Version 1.1Updated: 03-01-2022 Table of ContentsTOC \o "1-3" \h \z \u1.OverviewPAGEREF _Toc1974633372 \h32.Problems We Are AddressingPAGEREF _Toc2144043477 \h52.1Scattered DataPAGEREF _Toc1487551884 \h52.2Unwillingness to Disclose Data or Limited Amount of InformationPAGEREF _Toc1679138960 \h62.3Data loss between two countries or Absence of Agreed-upon Regulations between CountriesPAGEREF _Toc1525942793 \h62.4Differences in Data Management Makes It Difficult to Draw ConclusionsPAGEREF _Toc645251265 \h72.5Immoral Trade Practices that are Protected Against by Law, but are Hard to TracePAGEREF _Toc1177867797 \h73.Deep Dive into the SolutionPAGEREF _Toc852500095 \h73.1.1IoT DevicesPAGEREF _Toc249855531 \h93.1.1 Data Accessible to Vehicle OwnerPAGEREF _Toc699254293 \h93.1.2RFvin TokenPAGEREF _Toc2041134817 \h114.The Business ModelPAGEREF _Toc733036410 \h114.1RFvin Customer AppPAGEREF _Toc1526514104 \h124.1.1Vehicle RecordsPAGEREF _Toc198669890 \h124.1.2RFvin Token Live PricePAGEREF _Toc834489762 \h134.1.3NotificationsPAGEREF _Toc1196759225 \h134.2RFvin.APIPAGEREF _Toc948113990 \h154.3 RFvin.WalletPAGEREF _Toc11296345 \h165.Business AnalysisPAGEREF _Toc933892417 \h165.1Milestones & GoalsPAGEREF _Toc2052567238 \h165.2Predicted CashflowPAGEREF _Toc1492259120 \h175.3Product Pricing for RFvin.APIPAGEREF _Toc533357934 \h18The average pricing for RFvin.API will be 5,000 USD a year per client.PAGEREF _Toc1902813143 \h185.4SWOT AnalysisPAGEREF _Toc867469288 \h186.Token Model and SalePAGEREF _Toc452357418 \h206.1RFvin Token PurposePAGEREF _Toc1183849818 \h206.2How is RFV Going to be Used in Every RFvin Product?PAGEREF _Toc1041837874 \h216.3The RFV Token LaunchPAGEREF _Toc1191693650 \h236.4KYC and Why we are Using itPAGEREF _Toc1089019532 \h236.5Privacy and SecurityPAGEREF _Toc1192693427 \h246.6How to buy Tokens Once RFV ReleasesPAGEREF _Toc1318400993 \h256.7Can an RFvin Token be Called a “Security”?PAGEREF _Toc1851847445 \h267.News in the Automotive IndustryPAGEREF _Toc1124607964 \h268.The TeamPAGEREF _Toc737113450 \h27Overview The automotive industry is becoming the biggest in the world with both new and used cars constantly being bought and sold, and as a result, the technology surrounding vehicles needs to become safer and stricter so that the automotive ecosystem can have more integrity. Manufactures generally produce vehicles every day to be sold, bought, and used overseas, increasing the risk of dishonest and immoral car usage by criminals.In general, most owners of vehicles are not honest about the car’s history when it comes to selling it. Sometimes, the owner of a car is located in another country because they often travel from city to city or even country to country. Being able to access the vehicle’s true history creates the perfect ecosystem for the automobile industry.There have been a large number of times where cars with fake VIN numbers were discovered by companies and authorities. RFVin will provide a safe and secure solution that allows the car’s information and history to be stored securely, especially vehicles that run on electricity. This information can then be generated by the owner of the vehicles as well as any authorities and companies that require the information, with these authorities getting permission from the car owner first of course.Most vehicles have computers that contain data about the car and that can supply third-party systems and companies with this information to keep the car safe from being breached and tampered with. We will utilize these computers to receive information about the vehicle and store it on a decentralized car registry.We strive to make sure that all vehicle owners, buyers, and companies have the ability to securely generate honest, real-time data to help them determine if the vehicle that they own or are interested in meets their expectations. Our secure, blockchain-reliant solution could change the automotive industry, as our planned solution will be able to provide detailed reports about a vehicle, which includes information about the car that may be hidden by a shady seller or by a smuggler, such as any potential damage to the car. The information for these reports will be taken from a secure and decentralized registry in order to make sure that the reports are not faulty. We intend to implement this new technology into electric cars as well, which is a first for the automobile industry.Problems We Are AddressingScattered DataWhether it be Asia, Europe, The Americas, Africa, or anywhere else, VIN number manipulation is a common problem among criminals around the world. Because VIN numbers are sometimes manipulated worldwide, trusting only one source of information may not be the most reliable way to receive vehicle data and history. When it comes to validating vehicle data, there are two types of information to be addressed:Legitimacy of the VIN number printed in the car. Previous damage to the car.This information is scattered and contained across a number of sources in the blockchain which makes the information more legitimate and reliableUnwillingness to Disclose Data or Limited Amount of InformationAnother major issue is that suspiciously acting car owners aren’t willing to disclose all needed data and information about their car. This is because some data about the car may devalue it in the eyes of a buyer or may reveal something that the car owner may want to keep hidden. This is an issue because a lot of the time, only the car owner/seller has information about their car.This issue is another cause for the many automotive frauds that occur nowadays.Data loss between two countries or Absence of Agreed-upon Regulations between CountriesThe organizations in a country do not have the technology or infrastructure to display information in real time. This is even worse at the border between two different countries. Centralized companies and organizations that hold important data cannot constantly change and adapt to the rapidly changing trends around the world, as it takes a lot of time to update the relevant information. Because of this, every country has to have its own rules for collecting and organizing data, and normally, those specific rules and regulations are not always agreed upon among different nations. Additionally, because companies need to take time to update their information, the information that they have may sometimes not be up-to-date, and this causes issues. For example, the time it takes to register a vehicle in one country after deregistering it in another is usually when accidents and suspicious information can be hidden because of the time gap and how long it takes for a company to update the relevant information about the vehicle.Differences in Data Management Makes It Difficult to Draw ConclusionsEvery organization/company/country has their own, different way of containing and managing information. This creates it even more difficult to truly get the history of a vehicle in today's market, and thus, coming up with conclusions about the vehicle is near impossible. Because of this, vehicle information needs to be stored in one way on one platform for anyone and everyone to be able to understand and make conclusions about the vehicle.Immoral Trade Practices that are Protected Against by Law, but are Hard to TraceLaws have already been put in place to protect society from immoral and unfair automotive trade acts. However, even though these laws have already been set, the law enforcement agencies enforcing these laws are held back by a lack of reliable information. This is because faking car documents or messing with the VIN number printed in the car can be done very quickly without law enforcement detecting it. After these frauds are committed, the vehicle is sold and because of this, the link between the fraud and the original person who commits it is lost, and the relevant authorities are unable to trace the fraud back to the person who commits it.Deep Dive into the SolutionRFvin is a blockchain-based vehicle history registry. Sensors on the car collect information about damage to the car and more, and then organize it into records. The data is then put through a data analysis program to make sure that it is legitimate. Also, there is an RFID ship that is implanted into a part of the car that is connected to the computer that performs the job of fetching information, such as the car’s real VIN number and any hidden damage, as well as validating information by border control, whether it is inter-country or within the same country. The information is then stored on the blockchain for future use, such as checking if the data is correct. This will ensure that automotive fraud, such as manipulating the VIN number, does not occur, as the information will be stored on a trustworthy source. 3.1 RFvin has Two Aspects:Vehicle history registry securely recording and saving vehicle dataA VIN number verification process on the Binance Smart Chain (BSC) blockchainIoT DevicesWe are planning on creating the first RFvin IoT device, with the help of a professional IoT manufacturer. These devices will allow you to generate continuous real time information which will be sent to our data farm to be processed. In exchange for this, the vehicle owner receives a small reward of RFVin tokens. 3.1.1 Data Accessible to Vehicle OwnerA lot of data about a car is only accessible to its owner, such as the VIN number and any damage to the car. Since only the vehicle owner has access to this kind of vital information, it is very easy for the information to be hidden and/or faked. RFvin aims to implement sensors around cars, which will register any impact that damages the car to the built-in car computer. The built-in RFID system in the car’s chassis and other unknown areas of the car will then securely supply any information about these impacts, as well as vital vehicle information like its VIN number, making it practically impossible for the vehicle owner to fake and/or hide information about the car since all the information is coming from the blockchain through the RFvin App.center0RFvin TokenThe RFvin token, which will run on the BSC blockchain, will have a supply of one billion tokens, with 90% of those tokens being available to the public and the other 10% for the RFvin developers. It will have a starting price of 0.0000001$, making it plentiful and very affordable. The token will be sold to gain funds for the RFvin technology and the implementation of it. It will also be available to buy and sell normally as a cryptocurrency token.The Business ModelA worldwide blockchain vehicle registry has yet to be a part of the automotive industry. We plan to create a decentralized vehicle verification and registry system that will improve the security and integrity of the multi-billion-dollar automotive industry, not only for regular vehicles, but for electric vehicles too.RFvin Customer AppFrom the RFvin Customer app, you will be able to use your phone to scan the RFID chip on the car to decode the car’s VIN number and look at authentic information about the vehicle that is stored in its registry after going through the authorization mechanism. This will help validate information about the car and make sure that the car owner does not lie about vehicle data. Additionally, in the app, you will be able to look at live data of the RFvin Token’s price. With this, the app will have multiple aspects:Vehicle Data AccessRFvin Token live priceVehicle RecordsA vehicle’s history contains several different types of records of car information. In the RFvin Customer app, information about the car, since the moment it was manufactured, will be categorized into its appropriate categories. These records will include:The vehicle’s VIN numberFirst Owner informationReport on any hidden damage that is detected by the car’s impact sensorsBorder controlLegal car documents and information, in order to avoid faking vehicle documentsRFvin Token Live PriceThe RFvin App will allow you to check the price of the RFvin token in real time. It will also link websites and exchange sites where you can trade and buy the RFvin token, giving potential buyers a quick and direct way to buy the token. NotificationsThe RFvin app will notify its user of any RFvin announcements and news, including:PartnershipsTrade dealsEventsUpdates& moreIt is estimated that there are around 1,900,000 searches about car VIN numbers every month, and yet, people can only get access to low-quality databases with unreliable and easily manipulated information. We plan on changing this.Millions of people worldwide look for reliable and free services for their vehicles. Creating a product like the RFvin App and other RFvin projects will help satisfy this demand for secure automotive services, as it will give the car owner, as well as respective authorities, the ability to check the vehicle for reliable information and ensure its integrity.And the price to verify the VIN number and damage history? It will be totally free.RFvin.APIMany car dealer companies and other types of companies greatly need to expand their data sources.Many companies, like insurance or leasing companies, buy many database services to make their job easier by having more databases to contain their data. When it comes to data sources, the more data sources a big company has, the less chance of financial loss there is.Through the RFvin.API, we will provide big companies with a secure and easy-to-access data source for all their important data, such as history and reports.4.3 RFvin.WalletLater down the line, we plan on creating a trustworthy and reliable wallet that not only allows you to buy and trade the RFvin token, but also gives you the ability to trade, buy, send, and receive any crypto token of your choice. The wallet will be compatible with Trust Wallet, which will be used to buy and send the tokens and coins to your RFvin walletBusiness AnalysisMilestones & GoalsPlanned Milestones Over the Next Five Years:Enough funds for RFvin App will be collectedRFvin App will be launched and used worldwideSeveral companies will utilize the RFvin.API as databases where they store their information RFvin.Wallet will launch and will have other wallets implemented into it2022 Goals: The RFV token will launch. Prototype for the installation of the sensors and RFID chips in old and new vehicles will start development. The prototypes will continuously be tested for any faults and issues2023 Goals: The prototype for the installation will be complete, and a blockchain-based database for the RFvin App will be made. The RFvin App will launch in a European country, an Asian country, and in the USA. These will be our initial customers.2024 Goals: the RFvin App will launch in several more countries, and marketing campaigns for other companies to generate profit will continue to occur. 2025 Goals: The RFvin Wallet beta version will launch. The wallet will be used and tested by both the developers and app users, with the latter providing feedback as well as any potential fixes or improvements. Many updates to the app will launch during this year2026 Goals: RFvin.API will launch and be integrated with other companies in order to provide them with more secure, data-holding services.Predicted Cashflow Years20212022202320242025Funds needed USD250,000280,000550,0001,300,0002,700,000Marketing & Sales USD50,00090,000100,000120,000150,000Operational Expenses USD20,00070,000150,000690,000900,000Sales, total USD089,0001,168,0002,428,0004,204,000Car Prototyping USD180,000RFvin.APP USD 120,000300,000240,000400,000RFvin.Wallet USD 250,000450,000RFvin.API USD 800,000Company Profit USD:-250,000-191,000 618,000 1,128,000 1,504,000Product Pricing for RFvin.APIThe average pricing for RFvin.API will be 5,000 USD a year per client.SWOT AnalysisStrengthsSince RFvin is a blockchain registry, the data cannot be changed or faked, as it runs on a decentralized system.We have a team member who has worked in the field of IT and computer technology for nearly two decades.Blockchain technology automatically lets the client know that they can rely on the system, and it gives the client the ability to trust our vehicle registryThe RFvin App will implement the Civic Identity Verification process in order to constantly ensure that the person using the app is the actual vehicle owner.We have three products, the RFvin App, RFvin.API, and RFvin Wallet, that will provide a stable income for our company, allowing it to continue providing clients with services and updates.The RFvin App will allow for our blockchain-based vehicle registry to continuously spread around the world, as more people will be downloading and utilizing it.WeaknessesData gathering and storing into the blockchain will only start once the RFID chip and sensors are implemented into the car. This means that any hidden damage to the car that happened before the implementation of the RFvin technology will not be a part of the vehicle’s data reports.As this technology is still new, it will take time for it to take over the regular car vehicle verification system and become a standard for the automotive industry.OpportunitiesThe RFvin.API will give us the opportunity to sell secure, blockchain-based database services to big companies, benefiting not only our company, but our client companies as well.The automotive industry has great potential when it comes to introducing a new project that will change it, considering that it has not changed much over the past few decades. When an industry does not change much, then it is perfect for introducing major, innovative projects.Since this technology is new, RFvin has the chance to become a globally used vehicle registry by many countries in the world.ThreatsRFvin and the RFV token rely heavily on the BSC blockchain, so any issue with BSC will negatively affect RFvin.Product development may slow down thanks to the decreased trust in many crypto tokens and projects. Some countries may prove to be a challenge when it comes to implementing the RFvin technology.Token Model and SaleIn this part of the whitepaper, we will give a brief summary of the RFvin token’s utilization, as well as how it will be distributed. More details on the token and how it will be distributed will be provided on the website RFvin Token PurposeOwnership of the RFvin token does not represent an ownership of any stake, share, property rights, or the right to receive payment associated with RFvin or any other form of participation in the RFvin project. People who hold the RFV token have the ability to only use the tokens in the projects as described in this document, or to trade and sell them.The RFV token will be based on the Binance Smart Chain blockchain and will be created from a smart contract that is based in the BSC main net. Smart contracts are computer programs that run and assist with online contractual agreements between two parties in a secure manner involving cryptography. This type of technology removes the need for a central authority that people need to trust with their funds and transaction information. This is because, since it is a smart contract, the process of sending and receiving RFV tokens as well as how payment/selling is facilitated is shown in the contract itself, allowing anyone to use the RFV token and perform transactions with it on their own as long as they know how to do it. We prefer keeping the RFV tokens on the BSC blockchain because we believe that it is a secure and easy-to-use platform for many cryptocurrency tokens, and it will be a great way to get the RFVin company started in the automotive market.How is RFV Going to be Used in Every RFvin Product?RFvin App:When someone downloads the RFvin App on mobile and confirms their identity and ownership of the corresponding vehicle using the Civic Identity Verification system, they receive a little RFV as a reward for signing up. RFvin Wallet:With an RFvin wallet, people will be able to buy, trade, and hold RFV tokens, as well as other cryptocurrency coins/tokens. You will also be able to trade between RFV and other select tokens. RFvin.API:Companies will be able to pay for RFvin.API services, not only with physical currencies and other crypto tokens/coins, but also with the RFV token.The RFV Token LaunchThe purpose of the RFvin token is to both collect funds to support the RFvin project/company and keep it going as well as to be used for RFvin products. The RFV token will launch on January 18th, and 90% of the total token supply will be available on Pancakeswap. In order to purchase the token, you must have a BSC wallet that can be connected to Pancakeswap, such as Trust Wallet, which will help you buy and keep RFvin tokens. You must also have some BNB/BEP20 tokens in your wallet, as they will be the main cryptocurrencies used to buy RFV tokens. Make sure not to buy the RFvin token from any other source, as Pancakeswap will be the only available place of purchase for the token for the time being.KYC and Why we are Using itWe are going to utilize Know-Your-Customer (KYC) technology in order to make sure identity theft and financial frauds do not occur. Since the KYC process is effective when it comes to identity verification, we will be able to greatly reduce the risk of any identity or financial fraud that may occur.RFvin, as a company, takes finance and financial crimes very seriously, which is why we have set the same KYC standards for ourselves as other companies around the world. The due diligence process involves looking through terrorist lists and criminal histories to make sure that a buyer/investor is not someone with a bad reputation. This KYC process has two major steps, which are automatically checking a buyer’s details against alert lists, and manually verifying buyer information to make sure that it matches the identification photos and documents that are provided by said buyer.Privacy and SecurityPlease find below precautionary measures that we will take in order to maintain privacy and security for our clients:All client data that is on our public servers is stored as an encrypted version. The decryption key for that data is kept on a private server that only the RFvin founding team has access to. This ensures that any external party who tries to access information from the public servers will not be able to see the data itself.All information that is collected from the KYC process will be stored only on company computers so that only the founding team has access to the information and no one else. Once the information checks are done, all information from the memory drives of these computers will be deleted, as the data will be encrypted and securely stored on private servers for future use.Rather than a client’s entire email being stored on the public servers, only a hash of it will be stored, so even if an external party accesses email hash information from the servers, they won’t be able to see the email address itself. We will not share any stored information with 3rd parties unless we receive permission from the client. However, clients should also take these precautions themselves in order to make sure their experience with RFvin is as smooth and secure as possible:Bookmark the RFV token launch date/time, so you know when the token releases and becomes available for purchase.Do not trust false emails that have specific details about RFvin and the token sale, such as the soft cap, hard cap, etc., as they may be emails sent by false, forged sender addresses. Make sure that the email sender address is the accurate and legitimate RFvin contact email address.Make sure that the RFvin website that you are on is the original, legitimate website, and not a forged, shady copy.4. If you want to perform RFvin-related operations and procedures, do not reply to any automatically generated emails, and perform your operations on the website itself. You can also contact the support team through mobile or email if you have any issues or questions.How to buy Tokens Once RFV ReleasesGetting ready to buy the RFvin token is a very simple process that only requires registering for a Binance Smart Chain wallet and using a cryptocurrency exchange, specifically Pancakeswap.In order to purchase RFV:Download a Binance Smart Chain crypto wallet. Trust Wallet is highly recommended. Register for the wallet, and make sure you have funds, which will be used to purchase RFV. You can use BEP20 tokens, but it is recommended to use BNB itself. Do not forget to have a little bit of BNB in your wallet as it will be required to pay for gas fees.Make sure to switch from Binance Chain BNB to Binance Smart Chain BNB in the wallet before purchasing RFV.Go to Pancakeswap.finance, and click on “Exchange”Connect your wallet, and choose which token or coin you would like to use to purchase RFVSpecify how much RFV you would like to purchase and click on “Swap”.If you have enough BNB for gas fees, the transaction should go through, and you should have RFvin tokens in your wallet.Can an RFvin Token be Called a “Security”?RFvin tokens are not meant to be securities or any kind of investment product/financial instrument.Usually, a security is defined alongside a transferable security, which is a financial instrument that can easily be exchanged between two parties and that can be negotiated on the capital market, with the exception of company shares (or any other equivalent) and bonds (or any other type of security debt).In that case, RFvin tokens are not a transferable security either, and only function as utility tokens for RFvin services and products as well as tradeable crypto tokens. The RFvin token is meant for people to buy RFvin products and trade with other cryptocurrencies. However, this doesn’t mean that people can only buy RFvin services with the RFV token, as they will be able to use other currencies and cryptocurrencies as well.News in the Automotive IndustryIf we look at current news, it seems apparent that companies in the automobile industry are looking forward to implementing blockchain technology. For example, Toyota has announced that it is planning on creating a blockchain based technology that will help securely transfer information between road networks and vehicles. Additionally, four automobile companies, Ford, BMW, Renault, and General Motors, have partnered up with other blockchain expert companies to discuss the implementation of blockchain technology into the automotive industry. These companies, as well as many others, are planning to utilize vehicle data and store it through blockchain, as they will be able to use and store this data much more securely than how it is being used and stored now. With these pieces of news, it seems like the future for blockchain technology in the automotive industry is bright and the technology will hopefully be implemented soon.The TeamYouness RidaniYouness Ridani is the CEO and founder of RFvin. With 20 years of experience in the field of IT, he has the expertise needed to run a computer and security-based project, like RFvin. He specializes in fields such as IT management, computer security, IT engineering, networking, and more.Idriss RidaniIdriss Ridani is the blockchain and app developer for RFvin. He is developing the RFvin App and RFV token. He is also the social media manager for RFvin and its products.Sabrina GuetibiCommunity Manager eager to support business and users’ needs with strong administrative expertise. She streamlines operations for efficiency and is adept at keeping collaborators engaged and happy with a strong sense of community.Monica FestaMonica Festa is the RFvin team’s writing expert. With decades of experience in reading and writing, she copywrites the team’s documents and makes sure that they are professional enough to be released to the public and read by other companies. She is also the team’s chief marketing officer and leads RFvin’s marketing campaigns.Advisor:Taoufik El IdrissiBusinessmanTaoufik is a successful businessman with thriving businesses situated in Australia and New Zealand. With his knowledge and expertise, his advice will surely help RFvin grow as a company. ................
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