Data generated by local vehicles is critical to building safer, convenient, affordable, and more efficient mobility models. While companies continue to profit from the massive amount of data generated, there is currently no way for end users to to personally benefit from this data. Until now.

Journey of a Thousand Miles

Hong Kong-based blockchain startup, Moveco, is developing a rewarding ecosystem for the projected $750 billion (by 2030) mobility industry. The ecosystem directly connects car owners with retailers and mobility partners on an empowering platform where value can be easily exchanged through an innovative token, MOV.

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,”

MOV Token is the key to all exchanges of values on the platform. With MOV, users can positively contribute to the development and enhancement of mobility standards, and earn compensation for their contributions instantly. These tokens can be used to pay for their next fuel bill, purchase services, or even be exchanged for air miles through the synergetic partnerships established by Moveco.

“We look to create a win-win situation, in which car generated data can be collected while consumers are rewarded.”

Moveco began as a telematics solutions provider focusing on how to improve car sharing through technology. To this end, the company developed a series of applications, including Drivebox and Drivebox Lite, for the reading and analysis of sensor data, route tracking, and interpretation of driving behavior.

The Moveco blockchain platform enables any user to turn their miles into rewards and discounts that can help then significantly offset car ownership, maintenance, and travel costs. By incentivizing the community and rewarding them for generating critical data, Moveco is paving the way towards a more secure, safer, and efficient future for the mobility industry, while reducing costs.   

All onboard with the Community

Moveco has been developed with the community at the forefront of every decision. The rewarding ecosystem is also poised to help build the next generation of autonomous vehicles and provide city planners with valuable information. The transparent ecosystem brings together stakeholders and key actors in the mobility industry, eliminating friction in the exchange of value between end-users and businesses.

By building on the blockchain, Moveco is empowering users from all over the world to contribute to the development of better mobility features and performance. Blockchain technology enables Moveco to facilitate state-of-the-art exchange of values with no third-party mediation, while guaranteeing the privacy of every users and information shared. Data freely flows unto the platform and compensations are automatically distributed to the source of the data through smart contracts.

Furthering Development and Innovation

To further its reach within the industry, Moveco recently became a member of MOBI (Mobility Open Blockchain Initiative). MOBI is a new consortium mandated to discover ways of making transportation safer, accessible, and more affordable through blockchain technology. MOBI is now in collaboration with global companies accounting for over 70 percent of the market share in global vehicle production, including BMW, Bosch, Ford, General Motors, Renault, ZF and more.

As a member of MOBI, Moveco can further the accessibility and availability of mobility data, while providing a rewarding ecosystem for all.

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