Accounting for vehicle time on road

Imlpied ripple effects:

• Insurance (Trigger)

• Climate:

  • Reducing traffic
  • Reducing global emmisions

Insurance Industry:

Proposition:

• The price of Insurance can be reduced based on Driver Behaviour.
• The price of Insurance can be reduced based on presence in a low crime/ low accident zone.
• Analytics to help judge the Insurance peremium to be paid by the vehicle owner.

Recording Driver behaviour:

Upon car ignition, a device within the car begins reporting data or collecting data based on driver speed and behaviour. The data if being collected, is transmitted at the end of every ride for analysis.

Reasons for Blockchain to be used:

• Record of Transaction happening necessary
• Incentivisation and deincentivisation tokens
• Perks and benefits can be in the form of tokens
• Creating a parallel economy increasing user engagement