Forbes reported the news on Aug. 29. Per the report, Continental has partnered with tech firm Hewlett Packard Enterprise and open source network provider Crossbar.io to create Earn As You Drive. This application reportedly lets drivers opt in to earn digital currency for sharing information about street parking availability through vehicle sensors. The data is shared with a manufacturer, who in turn sends it to a third party parking service.
Automotive supplier Continental has unveiled an application called Earn As You Drive, which uses blockchain technology to monetize car user information.
Parking space data for digital currency
The new app relies on Continental’s blockchain-based Data Monetization Platform (DMP). As previously reported by Cointelegraph Brasil, Continental partnered with Hewlett Packard for this development, which was announced back in February. In addition to monetizing vehicle-collected data, the project also purportedly aimed to use the data to bolster driver confidence and safety.
Jaguar Land Rover’s experiment earning programs
Jaguar Land Rover has also been trialing an earning program with the Iota Foundation. According to the report, the company has been testing the program in Ireland, which allows users to receive IOTA cryptocurrency in return for sharing data.
As reported earlier today by Cointelegraph, Jaguar Land Rover and Iota are performing a demo of a new distributed ledger technology for tracking and sharing energy data. In addition to providing data on how much energy the Jaguar I-Pace uses, the platform also tracks the origins of the energy and can ensure that it originates from sustainable sources.
Blockchain-based data monetization in the home
As previously reported by Cointelegraph, the Energy network company E.On filed a patent application for a blockchain-based information collector that could be used for data monetization. The device would reportedly use sensors to collect user data from smart home applications, which users could then selectively sell to third parties.
ConsenSys-Backed Identity Platform Partners With PwC
ConsenSys-backed identity management protocol uPort has entered a partnership with Onfido and PwC to develop blockchain-based identity management in the United Kingdom’s financial sector.
In a Sept. 23 announcement, the Ethereum-based digital identity platform uPort said the three firms are exploring how portable identity verification can improve the sign-up process for customers and reduce compliance costs for financial companies. PwC executive Mike Kennelly added:
“It opens up access to financial services, helps reduce fraud and is instrumental in driving more competition into the U.K. banking ecosystem. PwC analysis suggests technological step changes in the banking sector could bring a boost of more than £34.6bn to the UK’s economy by 2030.”
Since the European Union’s Payment Services Directive 2 came into effect, there has been an increased demand for secure personal data-sharing solutions between financial institutions. Alice Nawfal, the strategy and operations lead at uPort, added:
“Our view is that consumers will eventually be able to build dynamic, robust financial identities based on data from all financial institutions they have accounts at, and be able to port their identities across service providers.”
Blockchain identity systems can be the solution
Cointelegraph previously reported that the use of blockchain in data puts it back in the hands of those who create it. By storing personal data on encrypted, decentralized networks, users are able to grant limited access to third parties using keys in processes that are similar to sending cryptocurrency.
Alastair Johnson, the CEO of e-commerce payments and ID platform Nuggets, told Cointelegraph that by returning data control to users, blockchain ID systems can both empower individuals and cut administrative costs:
“A blockchain ID system, conversely, adopts a user-centric approach, eliminating central points of failure by empowering individuals with self-sovereign possession over their own data. A blockchain ID system would not require government bodies to store or share personal information in order for individuals to access services.”