Telematics can now issue crypto token for driver engagement, powered by Damoov
Jun 07, 2022
New Delhi [India], June 7 (ANI/YourPressBuddy): We are fast advancing to an age where the lines separating our real life from our virtual life are blurring. From Virtual Concerts to sites that let you buy virtual property anywhere in the world - it's all there already, and there is more coming up. In the latest development, Telematics major Damoov has announced the integration of the popular crypto networks of today, Solana and NEAR, to its Telematics platform.
The integration opens up two significant possibilities.
Firstly, companies building telematics-based apps can provide drivers with new ways of engaging by accruing crypto tokens for safe driving, eco-driving or driver performance. The crypto tokens have all known benefits and may be transferred to wallets across the entire blockchain ecosystem.
On the other hand, gaming companies can easily build Play to Earn games where gamers can be rewarded with crypto for their real-life driving skills. Telematics is the field that studies vehicle movement and position data to arrive at actionable insights about driving skills, safety, and vehicle longevity.
Companies like Damoov use machine learning to analyze the data to derive such insights. Damoov's APIs have been used by Automakers, Fleet Management Companies, Driving Schools, and Insurance companies to build their smartphone app for telematics. As per Ivan Shornikov, the CEO of Damoov, the promise is immense. "All existing smartphone telematics products are struggling with low driver's engagement. That is a game-changing step for driver engagement and future telematics.The new service unlocks huge opportunities to use crypto to improve safe driving, eco-driving, and driver performance," says Shornikov. "Most Importantly, this engagement feature doesn't require months of development. In as little as 30 mins, you can add crypto earning capabilities to your existing telematics-based apps for safe driving."
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