BMW Pilots ‘Gamified’ Crypto Reward System To Incentivize Drivers To Track Mileage

BMW has completed a pilot together with crypto startup DOVU, an official blog post from DOVU outlined today, May 8. The pilot introduces a tokenized rewards system using DOVU’s ERC-20 token, DOV, that encourages drivers to track mileage on their leased vehicles.

In their blog post, DOVU points out that preserving the residual market values of leased vehicles is “literally where [BMW] makes its money,” and isolates car mileage as the single most important factor that determines whether the resale value of the vehicle in question will be negatively affected.

Yet existing systems to manage mileage data are inadequate, as DOVU emphasizes:

“Currently the system to track vehicle mileage across fleets inside BMW is via a fuel card. When a driver fuels their vehicle, the fuel station is supposed to enter and store the mileage of the vehicle, also printing the mileage on the fuel receipt. For a number of reasons including mistyped numbers, oversight or even just being too busy, this data is at best inconsistent but often useless.”

The pilot tested a tokenized rewards system, whereby mileage data collection will still be manually input by drivers, but a DOVU token wallet app will be used as an incentive for drivers to take a snapshot of their dashboard at a specific time each week.

According to DOVU’s blog post, optical character recognition (OCR) and machine learning would then identify the numerics and convert them to an integer which can be verified and stored on the blockchain. A smart contract would reward drivers with 1 DOV token for each submission.

Porsche came out in February of this year as “the first” car manufacturer to test blockchain systems for use by drivers, as well as for driverless cars. In March, Cointelegraph reported on a blockchain-related patent filing by Ford, which similarly seeks to influence customer behavior by using the exchange of crypto tokens to facilitate traffic flow between cars.

Saudi Arabia Increases Focus on Blockchain Startups

Blockchain startups are of great interest to companies and governments alike. In Saudi Arabia, there’s a genuine effort underway to incorporate as many blockchain solutions as possible. The local government will continue on this mission, by the look of things. That is a positive development, as all of these partnerships play a big role in the future direction of this country.

Saudi Arabia has shown a knack for blockchain companies. More specifically, the government has forged several key partnerships as of late. After partnering with Ripple a while ago, the tone was set for future collaborations. Using blockchain the financial sector simply makes a lot of sense, even in Saudi Arabia. The central bank is closely looking into DLT-based solutions we speak.

Another Blockchain Effort in Saudi Arabia

A new partnership was forged earlier this week. The Saudi Ministry of Communications and IT partnered with ConsenSys. The latter company focuses its attention on building enterprise-grade software powered by blockchain technology. As such, a three-day bootcamp was organized to showcase this technology and look at potential use cases.

During this event, in-depth training regarding dApps was the main point of interest. It is not the first time Saudi Arabia is looking closely at dApps, although no official events had been organized in the past. The bootcamp also touched upon the concept of setting up a proper development environment for DLT solutions. All of these efforts will aid the country in developing future blockchain-oriented use cases.

For the time being, it remains to be seen how these ventures will play out. The interest in blockchain is genuine and the opportunities are virtually limitless. It seems local officials are interested in this technology, alongside AI and the Internet of Things. Big things can be expected in this regard, although the actual plan of action remains a bit unclear at this stage.

Header image courtesy of Shutterstock

Tags: , ,

AI Crypto ICO, Starts 1st Presale on May 9

Advertisement
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

You can participate with cryptocurrency ethereum.

Singapore — AI Crypto announced they will start their first presale on May 9 for Artificial Intelligence Blockchain ‘AI Crypto’.

It is noticeable that this project combined AI and blockchain, the two most attention received technologies lately. With these two technologies combined, a huge synergetic effect could be expected. According to AI Crypto, ‘AI Crypto Society’ is an alliance of AI researchers, developers and start-up companies to share the capabilities in the AI field so that fair rewards can be given to those that deserve it.

AI Crypto has the best development team for the project including Masters and Ph.D. AI professionals from Seoul National University and KAIST and from top universities in US and Europe. Jaeho Seol who has Ph.D. and researched for over 10 years in cognitive science is the Co-CEO and he is leading the core research as a Chief Scientist. He said with confidence that “We will lead the AI and blockchain technologies that are expected to grow explosively”.

AI Crypto also has great advisors including Tiago Costa Alves who is CEO of AppCoins, Ismail Malik who is Editor-in-Chief of ICO CROWD and Changki Park who is Founder & Chairman of BOScoin who has a big influence in the blockchain industry.

AI Crypto is gaining explosive interest from investors which was shown with more than 70000 potential investors on their website and more than 20000 users on their telegram channel within 3 weeks. AI Crypto is recognized globally getting the highest industry professionals rating of 9.6 out of 10 on ICOmarks, 5 out of 5 on wiserICO, 4.6 out of 5 on ICObench and so on.

You can participate in their 1st presale from May 9 using cryptocurrency ethereum(ETH), and you have to complete KYC(Know Your Customer) procedure in advance. If you join their official website and complete KYC procedure, you will receive a confirmation to your e-mail you registered. If you participate during the 1st presale you get 20% additional bonus. Presale hard cap is 50000ETH and Total AIC issue is 10 Billion AIC.

AI Crypto’s public sale is scheduled for May 30. AI Crypto Ecosystem Beta Release is scheduled for April 2019 and Official Release is scheduled for June 2019.

AI Crypto(AIC)

AI Crypto is currently developing blockchain based AI ecosystem. The main goal is to reduce the cost of AI research and make it easier to collect data needed for AI research. Exchanges between AI researchers and data providers will be active internationally through reward system using token. Furthermore, they are trying to achieve a big AI innovation in the near future.

‘AI Crypto Society’ is an alliance of AI researchers, developers and start-up companies. The goal is to share the capabilities in the AI field developing and using various AI models together so that fair rewards can be given to those that deserve it. AI should be the property of all mankind, not private property of few big companies.

Please refer the links for details about AIC.

AI Crypto summary

AI Crypto is trying to make decentralized blockchain based AI ecosystem. AI Crypto ecosystem will provide AI technology that anyone can participate.