London-Based Data Startup DOVU Signs Deal With Go-Ahead Rail Company
Blockchain technology has been on quite a journey in the last decade. Originally introduced as a way to track currency and value with Bitcoin, the use of the immutable ledger it offers is another level of value on its own. Some industries want to use it to track goods or even just data about movements associated with travel, which was the idea that DOVU had in mind.
When it was created, DOVU was a startup in London, that wanted to become “the global marketplace for transport data. They have received support in funding from companies including InMotion Ventures and Creative England.
The CEO and founder, Irfon Watkins, wants to promote the way that blockchain technology makes it possible to record data in the travel industry for a distributed marketplace. Essentially, that would offer an entire network that includes vehicle hire, insurance companies, ridesharing, and more, all in a single place.
Now that the startup is prepared to offer their services, the first action they took was to partner with Go-Ahead, a FTSE 250-listed rail company. With the partnership, Go-Ahead will apply the road platform’s technology to their customers, learning how to best stimulate changes in how patrons participate. This data is expected to be quite varied, considering the billion journeys every year that occur on their rails. The project is aimed to be launched on the Thameslink and Southern Rail services.
As users share their travel data, they will be awarded cryptocurrency for the effort, which will let Go-Ahead see their travel habits and determine the best way to interact with customers. The tokens are more like loyalty points than they are assets.
In a report from TechCrunch, the news media website suggests,
“It’s essentially a loyalty scheme running on a blockchain platform, where the token becomes the loyalty tracking device.”