ROAD X IOST | Cooperation with IOST to boost the application of Internet of Vehicles ROAD Follow Feb 11 · 5 min read

Abstract: not limited to technology, application, and community, looking forward to more cooperation between ROAD and IOST in the future

With the gradual development of smart cities and intelligent transportation, the field of Internet of Vehicles (IoV) has received widespread attention in recent years. Blockchain technology can solve the problem of the high demand for Data authenticity, and coordinate the interests of various transaction units, which will change the current status of IoV data trading.

Coupled with the rapid large-scale commercialization of 5G, IoV industry with high requirements for communication capabilities, will also accelerate its development and develop a large number of new use scenarios and business models. As an efficient, reliable, and technology-driven public chain project, IOST is paying close attention to the application of blockchain technology in the field of Internet of Vehicles.

Recently, ROAD and IOST have reached strategic cooperation. The two parties will explore common ecological fields in multiple application scenarios such as cars on bockchain, human-vehicle interaction, vehicle-vehicle communication, and vehicle-road coordination, and jointly promote system development and commercial implementation of Internet of Vehicles in the 5G network environment.

Cooperation with IOST to boost the application of Internet of Vehicles

IOST is a blockchain application platform developed for online service providers. It realizes horizontal expansion and high throughput through the design of the PoB consensus mechanism and the second layer expansion scheme. And provides value realization for third-party developers, creators, and company through an effective way of developing the community-owned networks.

Therefore, IOST is more decentralized than EOS based on the DPoS mechanism and more scalable than the ETH smart contract platform. Since the mainnet launched, IOST has officially become the global TOP 4 DApp public chain platform after Ethereum, EOS, and Tron.

In this cooperation, the two sides have negotiated on the opening of automotive data from ROAD to IOST Ecology. ROAD and IOST have reached an agreement that ROAD will assist IOST in establishing a decentralized IoV node and open APIs to the IOST network. In the future, there will be a large amount of data interaction between the two parties. Traditional payment services on ROAD will be open to smart contracts on IOST.

At present, IOST aims to build a world-class blockchain technology infrastructure; Through this cooperation with ROAD, it will help IOST and the automotive industry chain to jointly build a blockchain application ecological scenario to serve the global automotive industry and users.

Blockchain boosts the commercial revolution of Internet of Vehicles

The number of vehicles in China will reach 330 million in 2019, while the number of vehicles in the world will exceed 1.2 billion. The market segmentation for automobiles, such as car maintenance, used car trading, and auto-finance all exceed 1 trillion. The research reports shows that automotive data market will reach 800 billion US dollars annually in the future. Now, the data collection, authenticity and transaction environment of automotive data is the weakest link in the industrial infrastructure.

The generation of each type of data in the full lifecycle of vehicles including manufacture, sales，maintenance, daily use, and re-circulation, has important application value to the scenario at that time. However, the high discrete state of these dynamic data distributions determines that it is difficult to collect, authenticate, and maintain, and a large number of black-box transactions in the automotive data market.

ROAD is a blockchain project focused on the Internet of Vehicles incubated by INT Chain. It is deeply immersed in the development and application of the Internet of Vehicles system based on blockchain technology in the 5G network environment. ROAD has achieved excellent results in terms of after-installed intelligent hardware and its blockchain system integration.

ROAD attempts to create a full lifecycle interaction and accounting system for vehicles based on blockchain technology, which is called auto-ledger. The auto-ledger is an Internet of Vehicles and intelligent transportation system built on individual interaction and community intelligence to implement related business applications, data authenticity and privacy protection with blockchain. Meanwhile, the ROAD Token is created to coordinate the resource exchange between the vehicle nodes and the heterogeneous chains.

ROAD and IOST have reached this cooperation. The two parties will explore common ecological fields in multiple application scenarios such as cars on blockchain, human-vehicle interaction, vehicle-vehicle communication, and vehicle-road coordination, and jointly promote system development of Internet of Vehicles in the 5G network environment and gradually realize the use of blockchain to service the purchase of cars, use of cars, driving, roads, City management, and other scenarios.

In the future, we also look forward to more cooperation between ROAD and IOST in addition to technology, application, and community.

ROAD Team

Official website: www.roadpro.io

Core members

ROAD Founder, Aaron. Li

He had been worked in Alibaba China for 6 years as manager of the Exhibition Development Department and was responsible for exhibition channel, marketing channel, government relations, and innovative business.

ROAD Chief Architect, Huiqiang. Wang

He received a Ph.D. from the University of Stuttgart and a master’s degree from Tongji University. He was the winner of National Public Postgraduate Project (National Scholarship Council) and co-developer of National 863 Program “Building Reasonable Simulation Based on Satellite Simulation Software STK (Satellite Tool Kit)” He had worked for Vector Informatik (Shanghai) Co., Ltd. and Hisense, and led the development of large-scale social e-commerce public chain system.

COO, PP. Wang

He worked in Alibaba for 6 years and was responsible for the formation and operation of the Community Relations team. He is also a co-founder of a well-known automotive aftermarket enterprise.

CMO, Eric. Chuang

Former marketing manager of Alibaba South China and vice president of chemayi, channel general manager. He has extensive experience in automotive industry resources and application promotion.

ROAD Foundation

February 11, 2020