One of the UK-based providers of blockchain data named DOVU recently worked with BMW to use the ERC-20 tokens and the blockchain technology in order to track vehicle mileage. The news comes from an article posted by DOVU on Medium, where the company details working together with one of the largest car manufacturing companies in the world.
It was BMW that invited DOVU to participate in its innovation lab seeking new and disruptive ideas. The 10-week pilot began on January 15th this year at the London BMW headquarters. Even three executives from Alphabet (BMW’s leasing and fleet vehicle partner) served as sponsors for DOVU, including Nick Browning (CEO), Simon Carr (CCO) and Leo Taylor (head of product management).
Essentially, the tests were about the potential tokens and how would they influence customer behavior and the ability to gain access to data via the blockchain. These are the aspects that BMW is trying to improve.
It is clear that BMW wants to see how tokens could deliver a positive impact on the value of a vehicle. The team later found out that one of the key points of impact on the return value of a vehicle is the mileage – the higher it is, the greater the wear is on the vehicle.
Currently, BMW tracks vehicle mileage across its fleet using fuel cards. However, this method is prone to typing errors as well as lack of management oversight which is why it usually yields inconsistent and useless data.
In the new plan, DOVU will connect BMW’s vehicles thanks to the blockchain and use a manual approach to track this information in return for token-based rewards. In the test, DOVU succeeded in identifying the readings on the dashboard and converting them to an integer that was saved on the blockchain.
Similarly, DOVU used gamification methods to encourage repeat reporting, enabling users to continue earning tokens.
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