Japanese car manufacturers have spent billions on developing associated car functions, but most vehicle data continued to be locked in company silos. Now a blockchain startup based in the US wants to change dynamics into one of the world’s most advanced car markets.
Decentralized vehicle data platform DIMO today announced that it is expanding to the Japanese market via a joint venture with web3 company Hakuhodo Key3, aimed at car manufacturers who struggle with expensive infrastructure development and the tightening of privacy regulations.
“Japan remains an integral part of the world market, with important car manufacturers, Tier 1 suppliers and mobility innovators who are all concentrated in the country,” said Ryo Hayashi, CEO of Dimo Japan Decrypt. “Our immediate focus is to expand the DIMO platform and enable local companies to integrate it.”
The move would help to remove “infrastructure nuisances” for car manufacturers, service partners and external developers who want to “build and innovate through their platform,” said Hayashi.
Decentralizing software for vehicles
DIMO’s Decentralized Physical Infrastructure Network (Design) works as a marketplace for vehicle data.
Directors retain ownership of their information, while car manufacturers gain access to aggregated insights to develop functions, ranging from real -time diagnostics to use -based insurance.
Drivers connect their vehicles via the mobile app from DIMO and earn token rewards for sharing anonymized data, creating a two -sided marketplace that stimulates participation. DIMO claims that it is currently connecting more than 180,000 vehicles worldwide.
The timing seems strategic. Japan produces according to around 10% of the world’s vehicles, including brands such as Toyota, Suzuki and Honda, according to facts Published by the Japan Automobile Manufacturers Association in 2024.
In the meantime, according to industry to the connected and software -defined vehicle market, $ 200 billion in 2024 is expected to more than $ 1 trillion in 2030 estimates.
For DIMO this means that car manufacturers urgently need data infrastructure to achieve income from software, making the entry strategic to entering one of the fastest growing car markets in Asia.
For Japanese car manufacturers, the partnership deals with a criticism of “privacy problems and high development costs”, Dimo explained.
DIMO will work within local privacy regulations and will adhere to the specialized needs of local OEMs.
The company follows DIMO’s decentralized management model, which means that token holders have to vote on major decisions of the Treasury.
The community will decide on 16 June whether it should allocate $ 500,000 USDT and 4 million DIMO-Tokens for a 33% share interest in the Japanese entity, as a result of which stakeholders directly approve strategic expansion instead of leaving decisions to managers alone.
Edited by Sebastian Sinclair
Credit : cryptonews.net
