There is plenty of data that is generated every day. This could be on an individual level or in an organization level. However, accessing this data is where the problem arises. There is no real system that transfers or shares this data efficiently. When it comes to the transportation industry, it is widely lacking a decentralized system to create a fluid movement of goods and people in cities.
The DOVU platform leverages the use of data owners such as (individuals, organizations, IoT devices, basically any source that contains data and rewards them in the form of DOVU tokens for the exchange of data.
The Platform And Tech
The DOVU Protocol consists of detailing data interchange and attribution of value, the DOV token (for payments within the platform) and the DOVU API Marketplace (the first dApp developed by DOVU). The core of the ecosystem lies in the protocol.
The DOVU ecosystem powers new business models in the transportation sector by developing mobility related decentralized applications called dApps. It empowers vehicle owners to monetize their assets by providing them a platform to by selling vehicle rides, cargo space or even the use of the vehicle for a fixed term. Smart Contract helps validate the information and between the parties involved and assist in the smooth payment between them.
To ensure that there is quality maintained in their system, the APIs are meticulously tested for quality and consistently an scored accordingly. They have also implemented Standardised Swagger-based configuration to assess these API when they are in use. Since the API’s are merged beforehand, they are highly Transparent where the billing, performance and project management details are reserved in the developers dashboard.
The DOV tokens are created to build a digital economy for transportation industry for the coming generations. The DOV tokens can unlock benefits like trust by means of using smart contracts, flexibility and security using blockchain technology.
The Token and ICO
The company has been powered by the decentralized network of blockchain and Developers can contribute to APIs, Smart Contract and app developments and be rewarded in DOV tokens.
A total of 1.2 billion tokens will be issued out of which 25% will be made available for the token sale. The cost of one 1 DOV = 0.00032001 ETH. The timelines are as below:
• 4 September 2017, 17.00 UTC: Pre-sale live
• 29 September 2017, 1700 UTC: Pre-sale ends
• 3 October 2017, 17.00 UTC: Token sale live
• 17 October 2017, 17.00 UTC: Token sale closes
Out of these, 35% of the DOV Tokens will be will be reinvested for user growth fund. 15% of the DOV Tokens will be allocated to the growth of the team.
Conclusion
The DOVU platform received a round of seed funding last year, from InMotion Ventures, Jaguar Land Rover’s investment arm, and Creative England,a fund backed by the UK Government. The company is well popular of their project with well-established partner companies. Since they have already attracted a seed round of funding, the company has seen a very positive response from the industry as well the public. With their team of experts, they are all set to soar to new heights.
For More Details Visit
Website:https://dovu.io/
Whitepaper:https://dovu.io/whitepaper.pdf
Published by:karanj
Btalk Profile:https://bitcointalk.org/index.php?action=profile;u=1030341