AMO is a blockchain infrastructure for the efficient exchange and sharing of all CAR DATA powering the next generation of automobiles. For car users, manufacturers, and relevant service providers, this means that data will no longer be under the centralized control of specific companies, but rather become public assets that allow for valuable services to be made available.
About AMO Coin
AMO is a blockchain project to create and operate the AMO market, a market where car data can be shared and exchaged.
With the rapid development of connected cars, electric vehicles (EVs), autonomous cars, and smart cars, there is a need for a decentralized, open marketplace for transactions in the automobile industry. AMO Market will support the exchange of data between all stakeholders.
Participants in the AMO Market are all stakeholders within the automobile industry be it car users, automobile manufacturers, or automotive service providers. They participate in AMO Market simultaneously as data producers and consumers in a cycle of value sharing and creation. A technology-enabled economic system, AMO Market is built on the AMO Blockchain and supports the fair valuation of data and distribution of rewards. Accounting for adjustments in supply and demand, payouts and purchases are made with AMO Coin.
Car data is no longer limited to narrow use by a select few, but with express consent of data owners becomes a shared asset that benefits other participants in the AMO Market. When service providers or manufacturers want to access car user data, proper authorization is brokered with data owners, and even then all information and sensitive data is protected using cryptography.
Ultimately, AMO Market aims to create an environment where car data and information are no longer used and held by a few select companies, but are used and shared through legitimate and secure processes and transactions. As a result, car data will become a public asset and return more valuable and optimized services enjoyed by those involved.
Let’s go to continue this blog with other project. First of all, for who missed previous entry, what’s a cryptomoney? To be fast and concise, it is a digital medium of exchange. And the next question would be… What’s your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly. This markets operates in blockchain technology, an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.
Today there are thousands of coins on the market, already in operation, such as Bitcoin, Ethereum, Ripple, etc., but there are many thousands more that are about to leave. The former are called cryptocurrencies and can be purchased on many websites such as Coinbase, Localbitcoins, Kraken, etc. The others are the so-called ICO’s (Initial Coin Offering), which can be obtained with significant discounts and price runs through small contracts and transfers through Ethereum. But there exist others those that have just been born, which are not even in the ICO phase, which launch campaigns to attract the public attention, these are the Airdrops. With this, we can get thousands of coins for free. I emphasize these because it’s a way to win cryptocoins even if the market is as it is. Through this way you never lose money.
However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As we all know, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account. For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics.
Today, the project I am going to present you is AMO Coin, a secure data-sharing infrastructure based on blockchain for the Car Data Market.
As I said before, AMO Coin (AMO) (https://amo.foundation/) is created as a blockchain for the Car Data Market in secure data-sharing infrastructure. In other words, AMO coin could be the efficient exchange and sharing of all the CAR DATA that feed the next generation of cars. For car users, manufacturers and relevant service providers, this means that the data will no longer be under the centralized control of specific companies, but will become public assets that will allow valuable services to be offered.
AMO Coin platform aims to avoid lack of information and management infrastructure providing accurate collection and sharing of CAR DATA, and also tries to use blockchain technologies to provide a system sustainability for it.
How it Works
The AMO market is made up of AMO Blockchain and the AMO platform that supports it. The participants have both data supply and data consumption functions, and the car data produced during their use can be exchanged for processing. The value of the data is determined by supply and demand within the AMO platform and is paid in an AMO currency.
As a novelty, AMO is able to collect V2X data, car data and user data from three different layers, enabling a complete data collection to provide a unified system of data collection. The data will consist not only of what drivers and other car users generate, but also of secondary production (processed car data) of those who provide any type of service within the automotive industry.