Data collection is an increasingly more important practice than ever before, with the rise of big data and tools that allow for said data to be analyzed. Mobility is a crucial area for data collection as car companies, taxi companies and the like gather trends in an attempt to improve products and services. Without data collection, safety sensors can’t be tailored to be more secure, and road systems can’t be changed to feel safer for drivers.
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Following the data leaks and controversy surrounding the Cambridge Analytica and Facebook scandal citizens are more aware of their personal data than ever before. While aiding companies to make improvements is beneficial to everyone, users and drivers do not get to see any profit made from the data they helped create.
Lawrence Hui, Founder of Moveco said:
“Moveco believes car generated data is important to drive the future of mobility. We, however, also believe that consumers should be rewarded for the data shared.”
Moveco turning miles into money
Moveco is a recently launched mobility ecosystem that aims to give users control over their data. This blockchain powered platform allows customers to share their movements which in return will allow them to earn MOV tokens that can be spent on services or their next fuel bill.
Moveco was founded in 2017 as a project that can generate telematics using their very own Drivebox. This device can read telemetrics like fuel levels and diagnostic codes, and give users the power to lock and unlock their vehicle remotely. Furthermore, the Drivebox can aid drivers by giving them information that can help improve their driving habits and choices. Moveco created a partner app called the Drivebox and their latest product Drivebox Lite, which can track routes and interpret driving behaviour.
These products are crucial for self-driving car manufacturers. McKinsey & Co, a globally recognised management firm, estimates the worldwide market for this car generated data to be valued around $450 to $750 billion by the year 2030.
Moveco is proud to be apart of the Mobility Open Blockchain Initiative (MOBI), a new organisation created to discover how blockchain technology can help make transportation secure, affordable and more widespread. MOBI is partnered with companies that account for over 70% of the global market share for vehicle production, this includes big names such as BMW, Ford and General Motors.
Make moves with the MOV token
Consumers will be able to collect MOV tokens by generating data while in their vehicle. These tokens can be used on the Moveco Redemption Platform or with other partners of the rewards program. Using the power of blockchain technology, users will be able to exchange the MOV tokens for car washes, parking, fuel and various other rewards. The more miles driven, the more rewards that can be collected by users.
There are three levels to collecting the MOV token. The first level is using the Moveco app on a mobile which has the ability to collect basic data such as mobility, speed and location. The second level is using hardware such as the Drivebox Lite which can gather more data in return lowering insurance premium with partnered insurance companies. The last level is using a more advanced piece of hardware such as the Lidar, which incorporate cameras and infrared vision to allow for intricate data gathering.
Visit the Website: https://moveco.io/