BMW Blockchain Trial Uses Cryptocurrency Tokens to Improve Mileage Tracking

DOVU, a London, U.K.-based provider of a blockchain-based data marketplace for the transportation industry, recently completed a test with BMW to use ERC-20 tokens and blockchain technology track vehicle mileage, according to a DOVU article posted on Medium. BMW invited DOVU to participate in its innovation lab, which seeks new and disruptive ideas. The 10-week pilot began Jan.15 at the London BMW headquarters.

Three executives from Alphabet, BMW’s leasing and fleet vehicle arm, served as 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 vehicle that returns over its mileage allowance or is damaged undermines its resale value.

The DOVU team recognized at the start of the test that using tokens to influence customer behavior and the ability to gain access to data via the blockchain were relevant to many aspects of the company’s business.

Reference: https://www.ccn.com/bmw-blockchain-trial-uses-cryptocurrency-tokens-to-improve-mileage-tracking/

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