Earn as you ride: Continental and HP have developed a blockchain-based data trading platform
At the IAA, Continental will show how drivers can benefit in the future from passing on the data that their vehicles collect. The basis for this is the Blockchain platform for data trading, developed in a partnership with Hewlett Packard, which is based on technology from Crossbar.io.
The “Earn as you ride” offer enables vehicle manufacturers to issue credits directly in the form of virtual coins for the exchange of information. Desired result of this incentive: The manufacturer thus gets an easier and legally compliant access to service-relevant data of its customers. He can use this data to better understand their needs and to optimize their services. He can also sell them via the data trading platform to other service providers. According to company statements, all market participants receive sufficient data to offer seamless digital services.
Continental and HPE have partnered with technology provider Crossbar.io to develop a blockchain-based data trading platform. Vehicle manufacturers, but also companies from other industries, can exchange data easily, securely and efficiently. »Our platform eliminates hurdles that previously hindered data exchange. Data sovereignty, efficiency and monetary incentives are key. That’s how we create a secure and open data ecosystem that generates innovation and growth, “says Volkhard Bregulla, head of Manufacturing, Automotive and IoT at HPE. On the one hand, platform participants can enrich their own digital service offerings and, on the other hand, earn money by selling data. “A supplier alone can never have the required coverage and density of data globally,” explains Jürgen Schweiger, head of the Map & Parking division of the Intelligent Transportation Systems business unit at Continental. “That is why it is essential for the quality of certain services that you can easily attach data from other providers to your own offers in real time, if possible. The platform from Continental and HPE enables such an exchange. «
The decentralized platform approach based on blockchain technology ensures transparency, security and efficiency: all participants in the distributed ecosystem keep their sovereignty over their data and decide for themselves which data they want to share. There is no storage on a central server. Also, the price of a data package sets each provider itself. The data is transferred from back-end to back-end without any intermediate steps after completion of a transaction and is available in real-time. The solution is attracting great interest not only from car manufacturers, but also from telecommunications companies, electronic providers, cities and agriculture – because the platform is also intended for data away from vehicle data.
Passing on only with the driver’s consent
The principle “Earn as you ride” can increase the volume of data in the backend systems of car manufacturers and thus drive data trade and swarm intelligence. The driver earns credits with the data that he generates on his own. The data can only be passed on to third parties if the motorist has previously consented to this transfer, for example for the improvement of a parking service. According to the General Data Protection Regulation, he can choose for which use cases he would like to share data and for which not. The virtual coins collected in this way can ultimately be redeemed for bonuses. How the data exchange is rewarded, the car manufacturer decides itself.
At the IAA, Continental uses the example of Connected Parking to show how dealing with data for motorists and car manufacturers works – and both benefit from it.
image by Shutterstock
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