VIENNA--(BUSINESS WIRE)--Drive&Stake, a decentralised, scalable end-to-end solution for the creation of automated mobility data marketplaces, promotes industry-wide data exchange and enables participants within the mobility ecosystem to obtain extensive insights through real-time data analytics.
Over the past decades, the traditional idea of everyone possessing their own car as the primary means of mobility has shifted towards more interconnected ride-sharing, car-sharing and autonomous (self-driving) vehicles. As a result, vehicles have become mobile hubs of data, generating and processing vast volumes of information. The generated data has the potential to become a key driver for the implementation of disruptive, data-driven business models and services.
However, the current infrastructure has limited communication with third-party frameworks, leaving data untapped and locked in centralised silos. As a consequence, original equipment manufacturers (OEMs) face a trade-off between opening up access to their data and retaining profits from exclusive control over it. Service providers, such as insurance or fleet management companies, are dependent on third-party analytics processes, while drivers have no control over produced data and its potential use.
Drive&Stake addresses these obstacles and empowers all participants in the mobility ecosystem to share, access and benefit from vehicle-generated data.
Service providers can reach a broader customer base, deliver enhanced customer experience, perform real-time settlement of liabilities and develop new products and features. OEMs can improve business processes and access consumer data in a transparent, auditable way, while drivers—in addition to more services at a lower cost—can enjoy a personalised customer experience and collect reward tokens for staking, consuming third-party services, swapping or exchanging for fiat currencies.
RIDDLE&CODE, the leading European blockchain interface company, is powering Drive&Stake with a flexible hardware stack and software-driven approach that unlocks data in a secure, confidential manner and tokenizes the produced data by pegging it to real-life objects. Ocean Protocol allows the exchange and monetisation of data and data-based services, overcoming the trade-off between the benefits of using private data and the risks of exposing it. Experts from EFS Consulting are transforming data into tangible use cases in close collaboration with vehicle manufacturers, mobility service providers, and insurance and energy corporations, while ELOOP has already deployed a successful use case, recording CO2 savings and mileage of electric vehicles.
“RIDDLE&CODE has built Confidential PID that enables the secure extraction of vehicle-generated data and controls how this data will be accessed and utilised,” said Thomas Fürstner, founder and CTO of RIDDLE&CODE. “This novel approach comes as a result of our extensive development efforts for other industries like fintech and energy, where RIDDLE&CODE successfully implements various encryption and trusted computing technologies,” he added.
“Curiosity for novel technologies is in the very DNA of EFS Consulting. We are delighted to channel this curiosity together with our partner RIDDLE&CODE,” said Christian Schaupp, Managing Director of EFS Consulting. “Drive&Stake is a project that reinvents the connected vehicle experience, and we are proud to be part of it. Together with RIDDLE&CODE and other industry-leading partners, we are creating new decentralised business models and services based on tokenized mobility data.”
“RIDDLE&CODE is a blockchain pioneer. They've been at the forefront of using trusted and verifiable IoT devices integrated with blockchains,” said Bruce Pon, CEO of Ocean Protocol. “Drive&Stake data will be a valuable addition to the Ocean Market and we’re very excited to create a new data economy together.”
“As a company committed to taking the sharing economy to the next level, ELOOP is delighted to be part of Drive&Stake. Today, we are deploying a first use case, recording CO2 savings and mileage of electric vehicles, and are keen to test and develop further use cases within the Drive&Stake ecosystem,” said Leroy Hofer, CEO at ELOOP.
Drive&Stake supports a variety of use cases, including pay-as-you-drive, networked parking for car-sharing, incentivised mobility patterns, sustainable EV battery and supply-chain traceability. Further use cases can be developed and implemented.
Businesses interested in exploring disrupting mobility solutions and gaining value from vehicle-generated data can contact RIDDLE&CODE for more information about joining Drive&Stake.
RIDDLE&CODE is Europe’s leading company for blockchain interface solutions. The company develops hardware and software stacks that combine the security of smart cards with blockchain and the Internet of Things (IoT). Together with its tier-one clients and partners, which include Daimler, BMW, Wien Energie and leading Dutch crypto exchange LiteBit, RIDDLE&CODE brings new business models to the fintech, energy, mobility and materials industries.
More information: www.riddleandcode.com
About EFS Consulting
EFS Consulting was established based on the idea of creating modular platform strategies within the automotive industry. Today, the consultancy company with offices in Vienna and Shanghai has expanded beyond the automotive sector with fields of competencies covering all aspects of a technological product life cycle. EFS is dedicated to empowering clients on a global scale to deliver better products, production and market solutions.
More information: www.efs.consulting
ELOOP is a Vienna-based car-sharing startup with a focus on green mobility solutions and environmental protection. The company has the vision to change the way people get around in urban areas and take the sharing economy to the next level. With the power of blockchain, ELOOP has tokenized the revenue of its Tesla fleet and shares it with all ELOOP ONE token holders. The fleet of ELOOP consists purely of Tesla electric vehicles.
More information: eloop.at/en
About Ocean Protocol
Ocean Protocol is an on-ramp for data services into crypto ecosystems, using datatokens. Each datatoken is a fungible ERC20 token to access a given data service. Ocean smart contracts, Ocean libraries and Ocean-powered front ends make it easy to publish data services (deploy and mint datatokens) and consume data services (spend datatokens). Therefore, Ocean provides decentralised access control. The Ocean Protocol Foundation has allocated 20 million Ocean tokens for funding initiatives, including the Data Economy Challenge.
More information: oceanprotocol.com