Right now is the best time to live because we have amazing technology that lets us travel to many places, talk to anyone at any time, and even have cars that can drive themselves! But to make this technology better, we need lots of information called "Data" that we create every second of every day. Our phones, watches, and other devices are connected to the internet and collect our Data. The companies who make these devices use our Data to create new services they can sell to make more money. It's like an exchange where they get something (our Data) and we don't get anything back. The manufacturers of these devices will collect your Data and use it to create new services they can monetize to increase their value. If we break down this business exchange, we have an open-loop with the manufacturer to monetize your Data.
Get upset! Your data is worth something and you're not getting paid.
We must move away from this business approach to ensure you own your Data and have the right and ability to monetize it. We need a closed-loop solution with continuous feedback that generates mutual incentives for you and the manufacturers.
Get happy! Your data is worth something and you're getting paid.
Vehicles are a significant category of devices connecting to the internet. Each hour of driving generates up to 25 GB of data, equivalent to 30 hours of HD video playback. Harvard Health found that the average American spends 101 minutes driving per day. Assuming a lifetime of driving from age 17 to 78.7, that's 37,935 hours creating 948 TB of data - roughly 3,792 (256 GB) iPhones to store. This data presents new opportunities for innovation in transportation.
With the emergence of "Connected" vehicles, interested parties can access driving habits and vehicle health data. This data helps improve driving experiences, enhance safety, and increase comfort. Examples of data collected by vehicles include tire pressure, speed, energy consumption, and various other metrics.
What's the Problem
The transportation industry has created proprietary platforms for gathering and making money from information about vehicles. Getting this information is difficult, especially for business data that needs to be kept safe and accessed quickly. Data providers must follow laws and rules that control how information is collected, especially regarding privacy protection. Providers need to prove they follow regulations like GDPR and CCPA and protect customer privacy by hiding any personal information. Only approved providers can sell vehicle data through a data marketplace.
Using vehicle data has become more important recently because of connected cars and the use of telematics technology. However, it's hard to collect data from different sources and make sure it's good quality. This is especially true when dealing with different kinds of vehicles, like cars, trucks, and buses, which have different ways of collecting and sending data. People are also worried about privacy and security, and there needs to be a common set of rules for sharing information across the industry.
Solving these problems is important because access to vehicle data will help make transportation safer and more efficient to operate on our roads.
Vehicle Data Marketplace
DriveChain was created out of necessity to share vehicle data and promote safer and more sustainable transportation. Our mission is to organize and make vehicle data universally accessible and useful securely. We aim to accelerate the sharing of vehicle data and enhance transportation globally. Our purpose and existence are the following:
Collect, store, and share Vehicle Data securely
Compensate producers of Vehicle Data
Ensure producers own their Vehicle Data
Establish a transparent exchange for customers to purchase Vehicle Data securely
The world is abundant in incredible destinations to explore. Much of our lives are spent traveling to these places in our vehicles, experiencing them firsthand. As producers of our driving experiences, we share them with those closest to us. These experiences hold valuable insights that can lead to better, safer roads and more immersive travel experiences through our vehicle's windows.