Moby, Clintons, Bill Dan discussed on Insureblocks
On the vehicles who the driver is what they're caracteristics are the the time of the day because Accidents come more or less probable depending on time of day its actual location because some parts of cities are more dangerous than others some intersections. There's a whole lot of things whether there's passengers liability the more data. You can get that are is relevant to the liability to the underwriting viability of the more valuable. It is for the insurance company so under they would much rather compete on their underwriting ability in general at least the better ones than their ability to have a commercial with a acute duck goose advertising their terms. Now that's the second group. The third was electric vehicle in grid integration and the problem. Bears are existing. Electricity grid is very very top down with electric cars plugging in a much more important to get information to the top. Which kind of distributed information processing problem and Electric Cars if they all plug in at the same time in the same block. I'll have the potential even a relatively few number of them the potential to bring down for some of the grid on the other hand they also provide storage fasting for the grid to help even blows and so that's an interesting use case. These were used the fourth one was data marketplace's connected vehicles and that's the one that really is looking at the use case that Trenton and gross we're talking about data for the fifth were on just guarded with splashing. Just getting started now on the six is finance securitisations mark contracts so each of these is working on one aspect of the problem or on setting standards or certain things that that these connected connect smart vehicles might be doing so it seems a lot of them revolve around identity supply chain payments and data market. So if let's start with the first one because everything essentially stars was identity how you're addressing the identity challenge. Are you looking at solutions like self-serving ideas and option a little bit more gave our ideas concepts? It probably originally developed in the context of people having their own identity toytown days and then being able to perhaps participate in banking system or system of property ownership that would otherwise be possible without crossing borders refugees as they generally relate people but Identity in a distributed system is just as important we we as people are pretty good at recognizing scams in in able to people transactions. It's not clear that machines are going to be very good at it at all right in other words when we get that email from the Nigerian prince who wants to give us a million dollars to arrange a simple cross border transaction. We know that that's probably a fraud And entered the bank account details. But it's not clear that machines are going to know when they get a request from another machine afford transaction As fraudulent probably will be kind of a war between attackers defenders in Phoenix. And the key to to making transactions work is having reliable identities so that you know who you're dealing with rank cartoon that everybody's seeing the dogs in front of the other they they be saying on the Internet. Nobody knows you're a dog. I need to know the dogs are in a machine to machine made in are referred to do things to distribute ways when she needs to know that the machine is trustworthy and identity is the foundation of now. We have an identity system for vehicles. Already right it's the Vin number which is a number of stamped metal on the engine. Storefront is a very physical thing oral. But what is the identity in a digital world now while in in a digital world identities or because it's easy to do things digitally much more much more easily than I. It is to do things with physical things and big blocks metal and so this is worthy idea. Digital twins comes out the more information you can couple with identity the more useful it because again these are so much more than just a number just for example people. When somebody asks who Chris who alitas. They don't just want to see a copy of a birth certificate. They Wanna now on where you live. Where'd you go to school? Which inabilities are what you could add guy trustworthy and a lot of other stuff? Nass what she really is a useful ideas and so we tried to do the same thing with the Clintons to be initially everything you knew about vehicle that was valuable when it left the factory so a birth certificate but so much more so our vehicle. Id has not only a specification about information that you might want to know but also addresses some of the issues about the WHO has the rights to create the original. I heard how does the original record get rated in a way that can be trusted by others? So it's a combination of of useful attributes. And and who has the the rights to specify the original record in that constitute state than the vehicle identity? Then the big like any project has one or two more phases. The first phase was really focus on. What's the vehicle? While leaves the factory second phase hour just going on now is focused on. How do you incorporate all the events happening vehicles light after leaves the factory? So how how? Many miles driven avid scheduled maintenance. Certified counterparts installed was involved in a serious accident. All of this stuff is relevant to the Value of the vehicle Ford. But you don't know at manufatures. So that's the second stage. And then you can think of supply chain is maybe pushing it backwards dressing the providence of all the parts that go into the vehicle and by the time you've done with supply chain one into a vehicle identity. What you have is a view of a vehicle that comes from the very startled this obliging parts are being and traces the assembly all the way through to the manufacturer to celebrate on everything that happens after so what you have is a cradle to grave identity that have also time and that is useful for others to know and do you think that that kind of digital identity wallet you know from the cradle to grave of that vehicle lay be able to act autonomously in terms of selling or trading its data but itself to other third parties long-term right at the time. Bill Dan and then as security so other parties can know who it is dealing with reputation spores and rotation values than you can transact any data you generate so yes. It's interesting question and it gets juice of who own the vehicle and benefit from it calms share owners won't be on my fleets Is it making a living off? Its environment itself in some sort of Thomas way or is it participating as part of a large organization exactly exactly because it is it comes back to the point about digital twins in analog world that vehicle has EISC a kind of a lifespan whiles in a digital world. You know it has a different one where it can interact with a number of identities effectively selling itself example. I have driven X. amount of miles you know in these kind of location it just a thirty nine. It could be interesting but I wanted to come to the to the next point regarding supply chain which I understand your earlier in your journey about for example we had speakers from trade lens and also John Kuyper founder of intuit is which I understand is part of of moby. How are you fostering projects around supply chain? And Are you leveraging? Some of the work that has already done by others in the space. So we're just getting supply chain grew up and running right. Now it's being jared on warmed W and It was something that was little upsetting to me. That we didn't get our supply chain Moby snatching up earlier. There is no I said that is I think. Supply chain is is one of the most important and most obvious and near-term use cases without without really large benefits for for the automotive industry Y SUPPLY CHAIN FOR. The automotive industry is incredibly complex. Somebody said that The automotive supply chain was the most complex artifact produced by man. And that may be true. If you think about the you know the number of arts that manufacturing might have to keep track of it might be fifty thousand or more many now since whoa into a single car they are. The Steps in assembly will back through the manufacturer on Tier Two tier three suppliers many more levels across multiple borders sometimes multiple times in the in the course of assembly the the The capital markets that supported supply chain themselves very efficient. You think about the flow of goods from the manufacturer of the nuts and bolts all the way through the assembly of the final car at every simple way. There's a payment that goes to reverse way it forms. A mirror image of the production process a process of capital by pushing capital back to the original in both sides of the physicals oblige hand the capital San Shimmering efficient paper-based enormous amount of waste and the suppliers to be shared amongst the are makers so there's an enormous amount of potential benefit. Here are makers to get together. Standardized things daughter-in-law blockchain Have identities cure identities parts have information data that can be shared.