BMW Blockchain Trial Uses Crypto Tokens to Improve Mileage Tracking

DOVU, a London, U.K.-based provider of a blockchain-based gegevens marketplace for the transportation industry, recently finished a test with BMW to use ERC-20 tokens and blockchain technology track voertuig mileage, according to a DOVU article posted on Medium.

BMW Leasing Arm Supports Blockhain Pilot

BMW invited DOVU to participate te its innovation laboratorium, which seeks fresh and disruptive ideas. The 10-week pilot began Jan.15 at the London BMW headquarters.

Three executives from Alphabet, BMW’s leasing and fleet voertuig arm, served spil sponsors for DOVU: Nick Brownrigg, chief executive officer, Simon Carr, chief commercial officer, and Leo Taylor, head of product management.

Leasing and finance comprise a large portion of BMW’s profits. Every voertuig that comes back overheen its mileage allowance or is bruised undermines its resale value.

The DOVU team recognized at the commence of the test that using tokens to influence customer behavior and the capability to build up access to gegevens via the blockchain were relevant to many aspects of the company’s business.

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DOVU met with BMW stakeholders to determine how its DOV tokens could supply a positive influence on voertuig value. The team identified voertuig mileage spil having the most influence on the terugwedstrijd value of a voertuig. The higher the mileage, the greater the wear on the voertuig.

Existing Method Prone To Errors

BMW presently tracks voertuig mileage across fleets using fuel cards. This method is prone to typing errors and lack of management oversight, yielding veranderlijk and often futile gegevens.

Connected vehicles track such gegevens, but the gegevens tracked by connected vehicles is only used for diagnostic purposes if the car is brought te for service. Accessing this gegevens also requires getting the driver’s permission. Hence, such gegevens via connected vehicles is not readily available to the business. The existing system, meantime, requires “vast amounts” of clerical overhead.

An automated method to collect mileage wasgoed not available to DOVU for the pilot. Hence, DOVU agreed to permit BMW customers to use a manual treatment to track this information te terugwedstrijd for token-based prizes. Each week, users were prompted to use their phone cameras to take a picture of their instrumentenbord at a specific time to provide mileage information.

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DOVU wasgoed able to identify the readings on the instrumentenbord and convert them to an rechtschapen that wasgoed saved to the blockchain.

The user confirmed the keurig gegevens before submitting it, and within a few seconds BMW had a reliable and traceable loom of voertuig mileage on a blockchain. Users were rewarded 1 DOV token vanaf subordination.

DOVU used gamification methods to encourage repeat reporting, enabling the user to proceed earning tokens.

Custom-built Wallet Released

At the end of the 10-week pilot, DOVU produced a custom-built wallet for BMW. The wallet, which is available for iOS and Android, permits DOVU to measure how tokenization encourages people to carry out certain tasks.

The very first phase of the project ended with a demonstration to senior BMW staff at the Tate Modern te London.

Numerous departments voiced rente te using tokenization to improve their own business areas, DOVU executives said, adding that the startup hopes to proceed working with BMW to identify other areas te which blockchain technology can be used to improve its business operations.

Featured Pic from Shutterstock

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3 thoughts on “BMW Blockchain Trial Uses Crypto Tokens to Improve Mileage Tracking”

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