Blockchain technology can be applied to many industries, and the automotive sector is no exception That is according to a story on Forbes, which reported that the automotive supply company Continental will be adding a telematics platform using a blockchain-based system.
According to the report, Continental has partnered with Hewlett-Packard Enterprise and Crossbar, an open-source network provider. Together they have created an Earn as You Drive system which will allow drivers to be able to earn digital currency for sharing any information about street parking that is available in the areas where they are driving. This data is then shared and passed onto a third party parking service. It is a win-win-win-win situation, to be honest.
This new technology will be on display next month when representatives for Continental appear at the IAA 2019 trade fair from September 12-22. The company will demonstrate how the platform will easily transfer information from the vehicle to the third-party vendor, allowing them to easily access information about traffic and available parking spaces. This will make it easier for them to be able to assist customers, as well as provide a monetary incentive to drivers willing to use the platform with their vehicle.
This new venture uses Continental’s blockchain-based Data Monetization Platform, which was first built in partnership with Hewlett-Packard earlier this year. It is hoped that this new technology will not only assist in tasks like available parking spaces but will also give drivers a greater sense of confidence and safety by providing an additional tool that will help to protect them while on the road.
The Jaguar Land Rover already uses the Iota Foundation program, an earning platform that has been added to these vehicles on a trial basis. Jaguar has been testing the program in Ireland, which allows users to receive cryptocurrency in return for their willingness to share data retrieved from the platform.
A person’s car is not the only area where they can earn some money from sharing data. The energy network provider E.On has filed for a patent for their new blockchain-based information collector that will collect information related to home appliances, which will then be sold to third parties. Users can have the platform installed in their home and receive digital currency as compensation for their willingness to share their information.
It is hoped in each of these programs that the digital compensation will be incentive enough for companies to be able to provide real-time information to interested third parties. The Jaguar program appears to be having great success, which should boost to the confidence of other companies to try such programs.
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