The blockchain automotive revolution is here. Evidence of this movement can be seen everywhere, with major manufacturers putting considerable time and effort into exploring new options. As you research this sector, it’s easy to see that the majority of focus is on the efforts of large manufacturers and tech firms.
However, as you venture deeper, you start noticing some promising projects coming from the startup sector. Here are the top 10 blockchain automotive projects you should know.
1. DAV
DAV has the potential to change the way city dwellers commute on a day-to-day basis. The protocol leverages a decentralized blockchain infrastructure to enable drivers and riders to communicate directly. This structure eliminates the middlemen, creating more savings for riders and returns for drivers.
DAV was built from day one to be an inclusive ride-sharing protocol. Anyone can add their vehicle to the network and start securing rewards for providing helpful services. The platform integrates an easy-to-use Dapp that makes onboarding simple.
DAV integrates a variety of EVs into its ecosystem. The project enables you to catch an electric bike, scooter, car, or other form of transportation wherever other DAV users are available. DAV also helps you access parking and charging stations, another huge plus.
The coolest aspect of DAV is its ability to integrate drones. Drone technology will revolutionize the average person’s daily life in the coming years. DAV enables you to interact directly with these devices to facilitate deliveries, passenger drop-offs, and other crucial tasks. As such, it’s a pioneering effort in the blockchain auto arena.
2. AMO
AMO Lab seeks to put drivers in control of their data. Your data is becoming increasingly valuable in the age of EVs and AI. Advanced systems need this information to create new models and improve performance.
AMO accomplishes this task via blockchain integration. Users’ data is tokenized, enabling it to be stored, traded, or used securely in other programs. This approach empowers users to regain control over their driving data and drive ROIs.
The project’s goal is to create a vehicle environment conducive to innovation and sustainability. As part of this strategy, AMO hosts a data marketplace. This peer-to-peer exchange allows participants to review, buy, and sell data packets.
AMO creates a new market for driver data that opens the door for passive rewards. If AMO is successful in its mission, your car could soon go from being a liability to an asset. For now, EV owners should glimpse the network’s offerings.
3. CarVertical
CARFAX has long been the industry standard for vehicle history reports. Sadly, this centralized system lacks efficiency, transparency, and access to the latest data. A pioneering project called CarVertical seeks to unseat the giant using blockchain tech to provide unmatched vehicle data.
CarVertical leverages blockchain infrastructure to provide real-time data, including onboard diagnostics. This strategy creates an auto ecosystem driven by real-time data. All information is recorded and stored on an immutable ledger, eliminating many fraud risks.
In an age where odometer rollbacks and hidden wrecks are more common than ever, CarVertical offers a solution that costs less and provides more. The platform includes crucial details about your vehicle, including maintenance history, recorded images, mileage, theft records, and safety recalls.
Notably, this data comes directly from users and an international community of +900 auto service providers. Users and businesses can leverage this data to create more immersive applications. As such, CarVertical can monetize this data to further drive funding and develop new products to keep you safe.
4. VINchain
VINchain is another blockchain-based vehicle history protocol that has seen growing adoption. The platform was the first to introduce a vehicle data exchange and has remained a pioneering force in the blockchain auto sector. Today, it’s one of the most recognized projects in the market.
VINchain began with a desire to eliminate fraud and reduce missing data from the auto history equation. To accomplish this task, the team set out to connect the different segments of the market. This strategy led to VINchain gathering data directly from manufacturers, vehicle data aggregators, dealers, banks, insurance companies, and vehicle owners.
VINchain automates many of the marketplace processes. For example, your data is tokenized, and whenever someone uses it, you receive rewards. The data user can select the size of the data package required for their application, enabling smaller operations to participate.
VINchain integrates real-time driver data to improve performance. The network is a top contender in the vehicle history sector due to its all-inclusive approach and unique business model. For these reasons, VINchain remains a viable option for further investigation.
5. Elocity
Elocity entered the market in 2018 to create a more sustainable environment. The project focuses on smart charging and decarbonizing the grid. This strategy makes sense when you examine the growing number of EVs and their power consumption.
Elocity combines a host of cutting-edge technologies to accomplish this task. The system integrates blockchain and IoT (Internet of Things) tech to provide a new level of intelligent charging in the market. Smart charging helps to ensure that batteries last longer, charge faster, and maximize their energy usage.
Elocity combines a host of factors including EV load management, Smart EV Charging, Fleet EV Charging, EV Charging Management Software, Electric Utilities, Multi-unit residential EV charging, and EV Chargers. This all-inclusive approach ensures that all resources are well spent.
Elocity also enables the management of reliable infrastructure projects like solar farms. Best of all, you can control everything from the intuitive dapp. Do your part and get the most out of your EVs by integrating Velocity.
6. Loyyal
Loyyal leverages blockchain technology to create a more inclusive and transparent loyalty program infrastructure. Loyalty programs help companies remain competitive and drive user engagement. These programs are used in many markets, and the auto industry is no exception.
Automakers and service providers are turning to Loyalty programs as a way to entice new customers and drive user retention. Loyyal enables users to secure loyalty points in the form of utility tokens that can then be spent at any of the network’s many participants.
This approach helps users by ensuring they don’t let their points go to waste. It also helps businesses by making their loyalty programs more appealing to users. Notably, Loyyal records all loyalty transactions on the blockchain.
Loyyal also benefits from its data marketplace. Marketers, researchers, and auto experts can purchase data to improve offerings. Imagine driving down the street, and a discount for your favorite restaurant pops up as you pass by it. All of this and more is possible with Loyyal.
7. PARKGENE
Finding parking in large cities has become a real concern for residents. In cities like NY, you can end up paying hundreds monthly to secure a spot for your car to sit during work hours. Thankfully, Parkgene has a solution that may help you out.
Parkgene is a park sharing app. It’s like Airbnb but for your car. Residents can offer their parking to other users in exchange for rewards in the form of a utility token. This approach relies on a p2p exchange and blockchain technology to remain transparent and scalable.
The platform has a variety of options for both the parking spot provider and the renter. Providers can set their rates based on time, date, and location. Reversely, those seeking spots can see on a map where each location is and its price.
This style of p2p parking sharing system is sure to help people alleviate congestion and make the most of the urban environment. It’s always exciting to see how blockchain projects like Parkgene open the door and provide more opportunities for everyone.
8. Mass Vehicle Ledger (MVL)
The Mass Vehicle Ledger wants to gather all relevant auto data into one easy-to-access universal ledger. The network introduces an incentive-based blockchain rewards system to complement its advanced value-sharing ecosystem.
Mass Vehicle Ledger gathers essential vehicle data, including transactions, movements, accidents, and maintenance records. This information is used to create a vehicle and driver profile. These data libraries can be traded or sold to businesses seeking essential vehicle and driver data.
The goal of Mass Vehicle Ledger is to add transparency and standardize the auto data industry. Standardization is a crucial step toward driving innovation in the market. It helps develop a focus on adding new utilities rather than worrying about interoperability.
This strategy has helped the Mass Vehicle Ledger become an industry leader in the mobility market. Shortly, you could secure MVL tokens providing helpful data to the network or simply using its services to get around the city.
9. Mobility Open Blockchain Initiative (MOBI)
MOBI is one of the most influential and prominent projects in the auto blockchain sector. This group was formed with various goals in mind, including creating industry standards and connecting market leaders. Currently, MOBI includes a mix of auto manufacturers and blockchain providers.
Source – MOBI
Hyundai, Honda, BMW, Ford, GM, IBM, Ripple, R3, Hyperledger, Accenture, and AXUM are some of the most notable participants in the project. This non-profit web3 consortium focuses on creating a reliable infrastructure for tomorrow’s smart cities. As such, it integrates several cutting-edge technologies, including IoT systems.
IoT (Internet of Things) sensors are any smart device. These devices can be tiny sensors, all the way up to smart cars and planes. IoT devices enable constant monitoring and tracking of assets. They also provide additional decentralization.
MOBI seeks to create a more equitable and transparent auto industry. The firm sees decentralization as a necessary step in the process because it improves efficiency and can support private transactions when needed. For these reasons, MOBI is a market leader.
10. VerifyCar app
The VerifyCar app is a sponsored project integrating blockchain technology to keep tabs on your vehicle. Users can track vehicle histories and validate the contents of third-party offerings. The protocol enables drivers to decide what data they want to share from the convenience of an app.
VerifyCar lives on the VeChainThor blockchain, providing it with high performance and scalability. The project was part of the larger startup garage project, which was unveiled at BMW Digital Innovation Day celebrations in 2019. The platform was introduced as a vehicle passport.
All VerifyCar data is immutable and stored on the blockchain. This data includes a digital ID for every vehicle. Additional information includes ownership history, mileage, maintenance, insurance, and other data that may be of interest to potential owners
The project has a lot of promise as it eliminates the need to rely on secondhand data sources. Manufacturers can package this data and create collaboration models. This strategy optimizes the supply chain and other key aspects of the market.
Blockchain Could Make Cars Free One Day
One of the coolest aspects of the blockchain auto integration movement is that it could one day lead to cars paying for themselves. As Web3 data becomes more valuable, more businesses will require access to this data. As such, data marketplaces that offer these services are set to see continued expansion.
AI Adds to Blockchain Value
AI is already changing the auto industry. These systems can help make driving safer, charging more efficient, and cars smarter. In the future, your car may be smart enough to find its parking, pick you up, and earn profits.
Blockchain Auto Makes the World Better
The melding of blockchain tech in the auto industry ushers in a new era of profitability for all parties. You can expect to see more integration in the future as people become aware of the advantages of these technologies when used together.
You can learn more about exciting blockchain projects here.
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