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DOVU is introducing the world’s first mobility cryptocurrency

A UK startup DOVU is aiming to become the global marketplace for transport data. It’s planning a token sale on 3 Oct 2017. It will create a distributed marketplace for the give and take of transport-related APIs, fuelled by the DOV token.

The core team consists of entrepreneurs, data and cloud computing experts, blockchain developers, business consultants, and marketers. DOVU has received seed funding from Creative England, a fund backed by the UK Government and InMotion Ventures, Jaguar Land Rover’s investment arm.

At the moment, transport data is difficult to obtain, holding back insight and progress for the industry. Now, by using blockchain technology, DOVU is providing trust through transparency for data providers, whether corporates or individuals, while opening up the availability of quality data sets for public and enterprise use.

The DOVU system works by creating a distributed marketplace for transport data. Vehicle Hire, Insurance Companies, Ride-sharing and others across the mobility sector can connect to DOVU to create a giant network of transport-related data resources.

The DOVU platform allows users to mix and match mobility service data, maximizing data value and utility. For example, you could combine car data with insurance data to calculate smarter policies, or use geolocation data in conjunction with weather statistics to inform ride-hailing companies.

Blockchain not only unlocks opportunities for businesses, such as data monetisation and utilisation, but also for individuals, who can be rewarded for their data contributions to the ecosystem. The DOV token is at the core of the network, an access and permissions token central to the process of seamless payment across all mobility services.

The platform will also ensure the quality of data available, by having a built-in reward system for positive contributors to the DOVU ecosystem. This allows developers to discover, test, evaluate and combine APIs with unprecedented ease and trust.

About Piyush Rajan

Asst. Business Editor |Telematics Wire | Smart automotive

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