Bayerische Motoren Werke, the German auto manufacturer that has come to be known by the affectionate “BMW”, will soon be its blockchain platform specifically for the tracking of car mileage in the next few months. This integration of blockchain technology is a part of the manufacturer’s start-up innovation program.
In February of this year, BMW Group UK announced to the public a number of start-ups it had been working with in its Innovation Labs project. One of these is DOVU, the very start-up that BMW is partnering with to initiate this mileage tracking project.
Every good manufacturer always seeks to improve her products, and I’ve of the ways of doing so is to get feedback from its consumers. The partnership with DOVU is for the latter to develop a system which motivates BMW cars drivers to log in how much distance they cover, or the mileage. This data is to help BMW know how their cars are being worked and the kind of toll it takes on them (cars).
Blockchain Could Bring The Most Needed Thing – Reliability
BMW chose a newer system with blockchain for the implementation of its mileage tracking because “the current automatic mileage tracking systems are unreliable” thus the data gathered might not be exactly what you want, according to one of DOVU’s executives. Alex Morris, the head of product at DOVU, in an interview with one media outlet – Coindesk, said
“What we’re doing is we’re essentially trying to build out this circular economy on the DOVU platform. [Drivers] can earn tokens, but down the line they’ll also be able to spend tokens on services – for example, they might be able to get replacement tires or something like that using the DOVU ecosystem. The partner, in this case BMW, defined the categorization of the reward and that’s defined in a smart contract. As long as the parameters are met for the smart contract, they’ll receive tokens…. Right now mileage is the most important factor for the resale value of their vehicles. The problem is quite an important one for them to solve, so when we suggested tokens to incentivize them to do that they were very excited.”
The target is that drivers of both borrowed and leased vehicles of BMW will log the data for mileage on a weekly basis.
The project which is in two phases will see phase two begin in about 6-8 weeks time. This is the stage of testing the state with the drivers, as the “proof-of-concept” phase one has already been finished.
This is not DOVU’s first partnership or project on automobiles as it already started one with Jaguar Land Rover in 2017. Neither is it the first time an auto manufacturer is planning on implementing a blockchain system; Porsche earlier this year announced works on a blockchain platform. DOVU also plan on powering cities by understanding their income and expenditure pattern and identifying how it can be integrated into all the various aspects in societal living.
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Featured Images Via BMW Blog & CarICO
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