MobiFi and IoTeX Partnership Announcement
MobiFi is proud to announce a strategic partnership with IoTeX — a decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. This major partnership will explore how to leverage user data collection for monetization purposes, while allowing MobiFi’s end-users greater access to DeFi applications on IoTeX ecosystem.
MobiFi and IoTeX are excited to partner to extend the mobility experience with trusted data. With MobiFi coming to the IoTeX Network, we will provide a rich travel & earn experience for users, focusing on car drivers to begin with. There are more than 20% of carbon emissions that need to be captured via behaviour change, such as shifting from car ownership to more responsible means of transports such as public transports or bikes, to name a few. For this reason, MobiFi’s initial target user will be drivers (i.e., the largest group which accounts for 50% in the mobility industry).
MobiFi can encourage sustainable decisions via on-chain incentives, by for example rewarding people who park their vehicles in an off-street parking in lieu of on-street. However, as a mobile app-based solution, it is extremely challenging to monitor specific behaviour (e.g., are people the drivers or the passengers?).
This is where IoTeX’s tamper-proof hardware/software technology can have a great impact. For example, the Pebble Tracker that is launching this month can capture real world mobility data (e.g., driving behaviour and GPS routes) to provide trusted information and support better decision making.
MobiFi is looking into this ground-breaking technology to develop a use case with drivers within cities. What caught MobiFi’s attention is that IoTeX guarantees data ownership, hence by “collecting” and monetizing particular data we can move one step further and make meaningful impact on user behaviour change in secure and compliant ways.
Yudi Xu (Team MobiFi): “The IoT ecosystem IoTeX is building is the secure connected world I have always wanted since 2017. Back then I was leading IoT projects for big corporations, where I saw all the vulnerabilities in physical devices. The exploration with IoTeX will provide us with new opportunities to monetize user’s mobility data in a secure way”.
Raullen Chai (IoTeX Team): “We are excited to welcome MobiFi to the IoTeX Network and develop the ‘drive-to-earn’ model with the talented MobiFi team. The incentivization of good driving behaviors using trusted, blockchain-based devices is innovative and has the potential to disrupt large sectors across insurance, asset tracking, and supply chain.”
IoTeX ecosystem & DeFi integrations
In addition to working on IoT and connected devices, IoTeX is also building an ecosystem of DeFi applications that allows for transactions across different blockchains, including cross-chain token swaps, NFTs, supply chain invoicing, Decentralized Identity, and much more. This ecosystem is rapidly growing as can be seen by the steady increase in transactions on their blockchain. In the future, IoTeX intends to merge the machine economy with DeFi — a concept they call MachineFi.
For MobiFi, it makes sense to bring our solutions to the IoTeX blockchain since it is EVM (Ethereum Virtual Machine) compatible and connected to other top blockchains such as Ethereum, BSC, and Polygon via the ioTube bridge. This way MobiFi will be able to connect the MoFi token with IoTeX network, opening the door to more DeFi services for MobiFi’s end-users.
Starting as an open-source project in 2017, IoTeX has built a decentralized platform whose aim is to empower the open economics for machines — an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives.
IoTeX’s mission is to build a decentralized trust fabric for a new era of collaboration and data exchange among devices, applications and people. Backed by a global team of research scientists and top engineers, IoTeX combines blockchain, trusted hardware and edge computing to realize the full potential of IoT.
Keep in touch with IoTeX
MobiFi is a financial orchestrator for Mobility as a Service (MaaS). We’re building the transportation UX of the future — simplifying the mess of mobility services that many consumers face today while also allowing them to earn on their mobility credit. Once complete, our platform and tokenized payment system will boost mobility service provider efficiency and coax users into more sustainable transportation decisions.
Keep in touch with MobiFi