Oracle enters blockchain world, meanwhile BMW already knows how to do that!

This article was published on: 05/8/18 7:43 PM

Łukasz MirytiukWritten by | blockchain, cryptocurrency, news

bmw blockchain | Blockchain24.co

It was a day full of breaking news from cryptocurrency world. Oracle Corporation, BMW and Bill Gates gave us chills. Read below!

 

Oracle with two blockchain-based products!

 

The world’s second largest software company – Oracle Corp. will launch blockchain products in the next few months!

Thomas Kurian, who is a president of software development, has announced at Oracle headquarters that the company is planning to launch two new products. One,  platform-as-a-service, will see the light this month and the other, decentralized ledger-based application, in the next month.

 

BMW! You are doing it well!

 

A problem with mileage in leased vehicles? No more with BMW. The global auto giant is planning to run a blockchain platform to track mileage in cars.

To provide the best solutions, BMW starts the cooperation with blockchain startup DOVU. The startup developed a system Alphabet (BMW’s fleet manager) to encourage drivers to log mileage in vehicles, leased or borrowed ones.
Alex Morris said that the purpose is to help BMW understand how much activity its cars are seeing and how it’s influencing them.
To connect the whole solution with cryptoworld, the drivers who will actively take part in the scheme will receive tokens in exchange for their data.  Morris said:

“What we’re doing is we’re essentially trying to build out this circular economy on the DOVU platform. [Drivers] can earn tokens, but down the line they’ll also be able to spend tokens on services – for example, they might be able to get replacement tires or something like that using the Dovu ecosystem. The partner, in this case BMW, defined the categorization of the reward and that’s defined in a smart contract. As long as the parameters are met for the smart contract, they’ll receive tokens.”


All information is recorded on DOVU’s blockchain.

What do you think about the BMW’s solution? Are you curious about Oracle’s products? Stay tuned!

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Last modified: May 9, 2018

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