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- Enabling drivers and fleet operators to own and monetize their connected vehicle data
- IoTeX continues to take demonstrate why it is the leading DePIN technology provider
- DIMO puts vehicle owners back into the drivers’ seat offering enhanced mobility services
IoTeX and DIMO are working to improve the driver and fleet operator experience for millions of vehicle owners worldwide. To kick off the partnership, IoTeX will build a W3bstream integration on the DIMO network and to invest in reducing the cost of the DIMO Hardware for users.IoTeX's goal is to drive the global transformation of mobility services on DIMO.
Integrating W3bstream, the first smart device-to-smart contract off-chain compute infrastructure, onto the DIMO network, allows Web3 developers access to zero-party mobility data, unlocking the potential for groundbreaking automotive dApps that enable consumers and fleet operators to take control of their vehicle data. These dApps will also unlock significantly improved services, including automotive finance, insurance, shared mobility, maintenance, etc.
Numbers that matter
The DIMO-IoTeX partnership aims to improve driver and fleet operator experience for the250 million connected vehicles on roads worldwide today, which represents 24% of all cars. By the end of this year, that number will increase to 350 million; by 2030, experts expect it to reach up to 2.5 billion. Furthermore, there are reports that data profits could surpass vehicle sales.
A McKinsey report recently revealed that by 2030, 95% of all vehicles sold could be connected, and in that same study, they estimated that by then, data from advanced vehicles could represent a yearly income for their owners of about $600.. Other reports claim profit from vehicle data could soon surpass the cost of the vehicle itself.
"DIMO solves a big problem and puts vehicle owners back in the digital driver's seat of their vehicles," said DIMO Co-Founder Andy Chatham. "Just four months after our network launched 10,000 vehicles that have traveled 50 million miles, more developers and users are starting to recognize that an open approach to vehicle connectivity will win."
"Nine out of ten people believe they own and control their vehicle's data, and that isn't the case today," explained Chatham, co-founder of Digital Infrastructure Inc. "We're excited to have more partners helping us grow the DIMO project into a movement."
An evolving partnership
IoTeX, a Web3 infrastructure platform connecting intelligent devices and real-world data to blockchains, and DIMO, a platform connecting drivers and their data with developers and manufacturers to drive change in mobility services, have plans to evolve this partnership over time to continue delivering benefits to users.
"We are thrilled to partner with DIMO to drive the future of mobility," said IoTeX CEO and Co-Founder Raullen Chai. "Combining our strengths in open, decentralized protocols and data privacy with DIMO's consumer products, open hardware ecosystem, and developer platform, we can create a user-owned digital ecosystem that empowers individuals and communities."
Growing and succeeding
The partnership will provide valuable opportunities for DIMO and IoTeX to grow and succeed in the DePIN sector. The scope of the collaboration includes integration with W3bstream, co-organizing developer hackathons on DIMO Data, co-marketing campaigns, and other initiatives to advance the future of mobility.
IoTeX provides W3bstream, which can be viewed as a machine orchestration layer built on top of a blockchain that can organize and coordinate a set of machines to complete a specific task, enabling developers, businesses, and users to gather data from various sources, including trustworthy gadgets and machines connected to the Internet.
DIMO allows users to create customized digital twins of their vehicles and save money and time with plugins for insurance, maintenance, tires, batteries, and even car sales and financing. Users earn rewards by using apps and services in the DIMO ecosystem and sharing aggregated data. Download the DIMO App here to try it today.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.