Continental to demo earning app based on blockchain-based car data-monetization platform at IAA
Mon, 02 Sep 2019, 04:07 am UTC
Technology company Continental will demonstrate a new app based on its blockchain-based data-monetization platform (DMP) built in partnership with Hewlett Packard Enterprise (HPE).
HPE and Continental announced their partnership in February this year focused on overcoming the barriers of sharing vehicle data.
“We’ll be using our parking data service to show exactly how our blockchain-based data trading platform can create real added value for drivers and mobility in cities,” says Helmut Matschi, Member of the Executive Board of Continental and Head of the Interior Division. “We fully integrate the driver into the data exchange, creating transparency and higher data availability for everyone involved.”
How this platform works is that drivers would need to use an app to register for the “Earn as you ride” program of their car manufacturer. They can earn credits on the roads with the data generated through the sensors installed on their vehicles. They can choose if they want to share this data with third-party and the specific data they want to share, while adhering to the General Data Protection Regulation (GDPR).
To incentivize drivers for sharing their data, vehicle manufacturers can reward them with virtual coins, which are credited to the drivers’ virtual wallet. Through the platform, manufacturers will have easier and legally compliant access to service-relevant customer data, which they can use to better understand their customers’ needs and optimize their services for them. They can also sell it to other service providers on the data trading platform.
The blockchain-based data trading platform will enable vehicle manufacturers and companies from other industries to share data easily, securely and efficiently. By boosting the volume of data in the backend systems of automobile manufacturers, it will help enhance data trading and swarm intelligence.
“The decentralized platform approach based on blockchain technology ensures transparency, security and efficiency: All the participants in the distributed ecosystem retain sovereignty over their data and decide for themselves which data they want to share,” the release said.
“No data is stored on a central server. The price for a data package is determined by the individual provider. When a transaction has been completed, the data is transferred from backend to backend without intermediate steps – and it’s also available in real time.”
Continental said that the solution is attracting a lot of interest not only from automobile manufacturers but also from telecommunications companies, electronics suppliers, city authorities, as well as the agricultural sector for its potential to handle other kinds of data efficiently.
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