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From horse-drawn carriages to the steam-powered locomotives, from the Ford Model T to the Tesla S. The modern mobility is the culmination of man’s desire to move and explore. The locomotion industry today is more oriented towards people that vehicles. The rise of technological innovations and aids such as electric power cars, safety sensors, and autonomous driving is what is driving the industry today.
Cars today generate a lot of data towards making them more secure, aid drivers and help the manufacturers in improving upon their products. Yet, the data generated is isolated and only used by the manufacturers for their purposes.
Moveco: Monetizing Driving Data
Data brokerages, OEM manufacturers, and car companies are always looking towards gathering data on vehicles and driving habits to analyze and help in improving their products and services.
Moveco started in 2017 as a company that generated telematics, with a goal to improve the ease of car sharing through technology. Their hardware, the Drivebox is a device that can read telemetrics such as diagnostic codes, fuel levels and allow users to lock or unlock their car remotely. The device provides information to drivers to improve their driving habits. Their latest product, the Drivebox lite connects through the Moveco app and allows users to not only read data but track routes and interpret driving behavior. This is essential information for autonomous vehicle manufacturers.
Moveco leverages on the blockchain technology to allow users of such devices to monetize and sell their data to companies seeking such, and earn from it. Users’ data will automatically be submitted, letting them earn MOV tokens. The more miles they drive, the more they earn.
What Will MOV Tokens Be Used For?
Within the Moveco ecosystem, users will be able to acquire a range of services, paying with the MOV token. Services such as the purchase of different goods and experiences in the Moveco Redemption Platform or with other partners within the loyalty program. There will be discounts if users pay for services such as gas, car washes and parking.
How To Use Moveco?
Moveco gives three levels of using their ecosystem:
- Level 1: Users can install the Moveco app on their mobile and let it run in the background. The app will collect simple data such as mobility, location, and acceleration; sending it to the network.
- Level 2: Users can install Drivebox lite (or other partner hardware) and allow the gathering of telemetrics such as car driving behavior and location data. The real-time diagnostics will help in lowering insurance premium with partnered insurance companies.
- Level 3: More advanced hardware, such as Lidar, cameras and infrared night vision to allow extreme data gathering, useful for autonomous vehicle and their OEM printer manufacturers to train and improve their vehicle software.
Moveco’s innovative blockchain platform is enhanced further by their admission into the MOBI (Mobility Open Blockchain Initiative), a consortium of different companies that seek to improve transport safety, affordability and accessibility through the use of blockchain.
For more information on the blockchain based data gathering and monetizing the platform, visit their website.