Press Release (ePRNews.com) - HONG KONG - Jun 11, 2018 - Moveco is pleased to formally introduce its game-changing ecosystem that will help to push forward the mobility industry as a whole. With the launch of this blockchain-based platform, consumers will now be able to contribute toward technology advancement whilst turning their miles into rewards and discounts. This new opportunity could significantly offset car ownership and travel costs for consumers around the world. At the same time, by making use of car generated data provided by the consumers; Moveco will pave the way for building safer, more convenient, efficient and affordable vehicles and new mobility services for the future.
Moveco is a blockchain-powered mobility ecosystem that turns miles into rewards. Users can positively contribute to the future of mobility and earn MOV tokens by sharing their mobility data to help with urban planning or to build the next generation of autonomous vehicles.
Mobility is a term that represents the ability to travel between two points, regardless of mode or purpose. The landscape is changing rapidly and the new mobility vertical is pointed toward a future of vehicles that are shared, autonomous, and electric. Data from vehicles generated today will play a crucial role in getting us to that future and developing the mobility services within it. Moveco, through fostering the ecosystem and maintaining a transparent platform, removes the friction from value exchanges between consumers and businesses of all kinds. It exists to bind all stakeholders of our transportation future together. Data flows freely into the Moveco platform and rewards are automatically, and fairly, assigned to the source. Globally-acclaimed management consulting firm McKinsey & Co. estimates that the worldwide market for this car generated data will be valued at $450 to $750 billion by 2030.
Moveco community members will earn the platform’s proprietary MOV utility tokens according to the miles they move and share. These tokens can be used on goods, services and experiences on the Moveco Redemption Platform or with the loyalty partners of Moveco. Utilizing blockchain technology, Moveco loyalty program and redemption zone will allow MOV tokens to be exchanged for discounts on gas, parking, car washes, and lots of other things.
Moveco started its journey as a telematics solutions provider dedicated to improving the ease of car sharing through technology. The company’s latest products Drivebox and Drivebox Lite are capable of reading sensor data, tracking routes, and interpretation of driving behavior. The use of blockchain technology will now allow secure and anonymous sharing and monetization of driving information.
In terms of its concept, Moveco can be referred to as the mobility industry equivalent of Sweatcoin, a blockchain-based fitness app that rewards users for the number of steps they make. In case of Moveco, the rewards can be earned by driving, using mobility services, or simply walking.
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,”
Lawrence Hui went on to state:
“We look to create a win-win situation, in which car generated data can be collected while consumers are rewarded.”
Moveco recently joined MOBI (Mobility Open Blockchain Initiative), a new consortium formed to discover how blockchain technology can make transportation safer, more affordable and more widely accessible. MOBI is working with companies that account for over 70 percent of global vehicle production market share. Partners of the consortium include BMW, Bosch, Ford, General Motors, Renault, ZF and more.
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