Gm friends of Polkadot,
I’m Mario from Belgium, a serial entrepreneur in the Web2 world and I recently graduated from the Polkadot Blockchain Academy in Hong Kong (Founders track). I was 1 of 4 founders to earn a distinction and also made it to the pitch finals.
In today’s world, 95% of all new cars are connected. This connectivity has become a lucrative opportunity for vehicle manufacturers, who are currently the exclusive “owners” of this data. This dominance in data ownership is projected to generate a revenue of [$750 billion] by 2030. Yet, the driver, the primary source of this data, sees no benefit ….
Also 92% of consumers think that vehicle owners should have control over who sees their vehicle’s data, yet this isn’t what’s happening in practice. By giving individuals control over their vehicle data and the choice of sharing it, LinkedCar can empower individuals and emphasize the importance of data privacy. It will also promote the ideals of a shared economy, where data is shared for mutual benefit and monetization.
My mission WAGOI - We’re All Gonna Own It!
Name
LinkedCar
Abstract
Users who buy an IoT device generate valuable data, but paradoxically for vehicles, they can’t access it. The seller (car manufacturer), on the other hand, freely trades this (private) data for substantial profits without any restrictions. This practice is inherently unfair to the consumer, who pays for the hardware and often remains unaware of the data being collected or its nature. It’s also unfair to other businesses like insurance companies, tire service centers, and electric car charging stations that could benefit from vehicle data but are forced to deal with the monopolistic control of this data.
The logical solution is that the person who generates the vehicle data should control it. This is now becoming a reality thanks to Blockchain technology and the upcoming EU Data Act, set to take effect at the end of 2025. This regulation will require all vehicle manufacturers to open up their data to consumers on a platform of their choice. By partnering with these manufacturers early, we hope they will direct their customers to LinkedCar’s neutral blockchain-based platform. This approach ensures compliance with the law while requiring minimal effort on the part of the manufacturers.
We also plan to enrich real-time connected vehicle data with information from other mobility partners (like maintenance records, insurance details, etc.). As a result, users will have a Digital Vehicle Passport.
Provenance is a key element in LinkedCar’s product. Today’s concern, when you buy a used car, would be the car’s history – like its service records, accident history, mileage, and ownership changes. Typically, this information can be fragmented, unreliable, or difficult to verify. This is where LinkedCar’s blockchain provenance comes into play.
From the moment a car is manufactured, all key data points – including production details, initial dealership information, and sale date – are recorded on the blockchain.
Each time the car undergoes servicing or maintenance, the details (the nature of the service, the date, etc) are logged on the blockchain. This creates an unalterable service history. Every time the car changes hands, the transaction is recorded, creating a transparent ownership trail. Additionally, the car’s mileage is regularly updated on the blockchain, preventing odometer fraud. If the car is involved in an accident, the details of the accident and subsequent repairs are recorded. This ensures future buyers have a full picture of any past damage and repairs.
How do we compensate drivers for sharing their data ?
LinkedCar receives vehicle data for free, but we will NEVER sell it, not even anonymously. The real power of data is in the hands of the user. LinkedCar simply provides “a marketplace” that makes it easy to connect data with interested companies. Mobility partners can use a smart contract to specify the data they’re interested in and how many tokens they’re willing to offer for it. This creates opportunities for real personalization. For example, sharing your mileage might earn you one token from insurer A, but two tokens from insurer B. Insurer A could also specify that if you drive less than 1000 km per month, you get an extra 5 tokens.
The use of Smart Contracts makes the possibilities limitless and ensures fair compensation for everyone. Anyone interested in vehicle data can create smart contracts. It’s up to the data holder, the driver, to accept these smart contracts and the benefits they offer.
Next steps
Aligning with the EU Data Act and advancing towards Tokenization Europe 2025, LinkedCar aspires to be a key ally for automakers in data sharing, promoting a fair and open market for everyone in mobility. We will democratize access to vehicle data - your data is yours, and your vehicle is part of a larger, interconnected, and ethical ecosystem. We aim to capitalize on the fact that we are a first mover.
Looking ahead, we’re setting our sights on Europe. We’re already part of working groups laying the groundwork for the rollout of EU Digital Identity Wallets (EUDI). These wallets will also include a digital driving license, which for us, will be the key to authentication.
Europe is in the process of developing a set of standards, and with our LinkedCar MVP, we aim to demonstrate our compliance with these standards using Polkadot. By doing so, we can make a significant impact and establish Polkadot as a key player in this new data-industry. In the MVP roadmap we will do the following :
- Integrations must align with evolving European standards. We need to explore options like EDC and Simpl, as Europe itself is in the midst of developing these standards.
- Europe is developing its own European Data Mobility Space. We will evaluate whether participating in this initiative would be an advantage for Polkadot; as they focus on different data-sets.
- Europe has introduced the GAIA-X standard. By meeting its criteria, we could be featured in their general communications (similar to Catena-X for the automotive value chain, funded for 200 million Euro), which is a significant opportunity since currently, few companies meet these conditions.
We’re set to develop the LinkedCar MVP on Polkadot, collaborating with partners like Tanssi and Nodle. However, the bulk of the work for the MVP will be undertaken by several PBA alumni developers. With a limited budget we will showcase the capability to integrate existing EU regulations into blockchain technology.
Conclusion
Because of significant regulatory changes in Europe that emphasize data ownership rights, the time is NOW. The EU Data Act crystallizes the concept that drivers are the rightful owners of their vehicle data, obligating car manufacturers to provide this data to consumers at no charge by 2025. LinkedCar has successfully signed LOI’s with notable industry players.
The next six months are critical and will primarily focus on how we can apply existing and upcoming EU-regulations to Polkadot. The technical aspect seems straightforward, but achieving full compliance is a different matter altogether. Constructing this technical roadmap is crucial.
Fun Fact
During the Pizza & Pitch event in Hong Kong, I presented the research on privacy in cars, and it even caught attention on Twitter…
Contact
Mario Schraepen
https://www.linkedin.com/in/marioschraepen/
Let’s drive change, one car, one byte at a time !
He is very proactive 