The developmentand application of block chain technology could be described as the biggestinvestment opportunity in 2018 as it has attracted the world’s attention with its explosive development. IOV block chain projects also mushroomed this year.
However, there are full of chaotic projects behind this fast developing market. Dr. Miller, CMO of CarLive Chain said to our correspondent that with the jointed efforts from the industry, IOV block chain has demonstrated great market value and we welcome any non-air, physical projects to engage in the application of IOV block chain technology so as to promote fast and healthy development of the industry.
Our correspondent also learned that CarLive Chain proposed to, through the application of block chain technology, store users’ data such as car-life sharing, spending and driving data via distributed bookkeeping, and give back to data contributors by establishing a dynamic reward system. On the technology application level, CarLive Chain features live broadcasting, video, shopping guide, e-commerce, IM, tipping, LBS, interactions between online big names and their subscribers.
Block chain technology will improve the efficiency of our operations as well as the operational safety of big data. CarLive Chain will lead YUTU’s 68+ million users to put into practice block chain technology in the global automotive industry. We aim to create equal and transparent application scenarios and encourage users to store these data via distributed bookkeeping, so as to create data value for the automotive ecosystem.
Dr. Miller also pointed out that we need to take at least two factors into consideration when reviewing the value of an IOV project. The first factor is that the true value of IOV block chain technology lies in innovative IOV block chain application scenarios, such as socialization between car users, e-commerce consumptions and car performance data safety services.
The second factor is that only applications backed by large legions of users (such as participation by car-life sharing contributors, auto-life related e-commerce consumption contributors and driving data contributors) can have broader market value.
Any practice on the market under the name of IOV block chain,which inserts external devices in vehicle’s OBD and charging ports to change their functions prior to block chain technology’s maturity and without technical cooperation and exploration with OEMs, are not safe.
So far, no reliable OEM has claimed to be responsible to for the safety of such practices. Some OEMs indicate that inserting these external devices is no different than placing time bombs on moving cars. An instant surge of power load will destroy the safety resistor and thus causing catastrophes.
“The year 2018 is destined to be a year of integration of physical economy with block chain technology. We welcome Internet giants and technology companies such as Huawei, Alibaba, Tencent, Baidu, 360, YUTU and Facebook to shoulder the responsibility of innovative application of technologies and venture into the innovation of block chain technology together.
