Mobility Ecosystem Moveco Lets You Earn as You Move

Jun 13, 2018 at 11:33 // News
Moveco lets you earn

Newly-launched mobility platform Moveco is well on its way to building a safer and smarter mobility industry that also makes it more efficient and affordable to do one of the most basic things of life: move.

The platform is built on a blockchain system that lets consumers contribute all their mobility data, and be rewarded in the form of digital MOV tokens that they can later use to pay for their next gas fill up or to buy related services on the platform.

Mobility, termed as the ability to move from one point to another, is experiencing a rapidly changing landscape, with hints that a shared, electric and autonomous future of mobility awaits.

As vehicles generate data, this plays a key role in moving the industry in the direction of that future. Consulting firm McKinsey & Co estimates that the worldwide market for the data generated by vehicles could be worth between $450 to $750 billion by 2030. Moveco’s vision of building a community-driven ecosystem on a transparent platform at once results in a frictionless exchange of value between business and consumer.

Moveco’s Revolution of the Mobility Industry

Seeking to push the entire mobility industry towards the next phase of revolution, consumers can now positively contribute towards that aim, advancing technology for their own benefit while earning discounts and rewards on products and services.

It is hoped that this incentivized model will help subsidize the cost of car ownership and travel for users all over the world, while creating safer vehicles and mobility services that are also easier to use, more efficient and more affordable.

Mobility data contributed from users have a vast potential for use, such as to aid urban planning designs or even to advance autonomous vehicles. Data will flow freely into the Moveco platform, automatically rewarding generators and assigning source fairly.

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.

A Community-Centric Ecosystem

As Moveco users move, they will record miles and share data, and their level of contribution will earn them MOV utility tokens, which can be used to purchase services, goods and experiences on the Moveco Redemption Platform or with Moveco loyalty partners. This will translate into discounts on parking, petrol, maintenance and other vehicle-related products and services.

Moveco has been compared as the mobility industry’s equivalent of Sweatcoin, a fitness app that rewards users for the number of steps taken. Similarly, MOV tokens will be earned for mobility: driving, using mobility services or even just walking.

Moveco founder Lawrence Hui said that the system sought to benefit all stakeholders, with businesses using much-needed data and data sharers earning rewards:

“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.”

From Telematics to Car Sharing

Moveco is not new to business, having cut its teeth as a telematics solutions provider that sought to improve car sharing ease. Its latest Drivebox and Drivebox Lite can read sensor data, track routes and interpret driving behavior – augmented with blockchain, they can now share that data anonymously and securely to monetize driving information.

A recent member of the Mobility Open Blockchain Initiative (MOBI), Moveco assists the organization to develop safer, cheaper and more accessible transportation via blockchain. MOBI works with companies that together account for more than 70% of global market share in vehicle production, including the likes of BMW, Bosch, Ford, General Motors, Renault and ZF.

To learn more, visit the website and read the whitepaper, or see details of the Moveco token sale. Keep up with the latest news on Twitter and Telegram.

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