Fiat Unveils Bockchain Token Rewards for Eco-Friendly Driving

Stellantis and the UK-headquartered firm Kiri Technologies intends to introduce blockchain rewards to promote maintainable driving conduct. Stellantis is the outcome of a joint collaboration between Fiat Chrysler and Groupe PSA, owning 16 car brands, including Citroen, Peugeot, Fiat and Chrysler.

The rewards program will be carried out under Stellantis e-mobility plan. Drivers of the New 500 Fiat, a totally electric vehicle, will be rewarded KiriCoins, which can be expended in the Kiri marketplace.

The New 500 car is linked to a platform that mechanically links KiriCoins on the basis of driving distance, speed and positions the tokens in a digital wallet that can be gained access via the Fiat application. For receiving the coins, clients must have to simply install the app, link it with Kiri and drive.

Driving a kilometer at an usual speed in the city is analogous to one KiriCoin, which is present valued at two European cents. While driving, the computations and redemption of kilometers to KiriCoins are spontaneous and endorsed via blockchain technology.

In addition to solid rewards offered on the digital marketplace, the 500 drivers who attain the largest eco:Score, which computes the effectiveness of driving from 0 to 100, will receive access to more offers from Stellantis, including Apple, Amazon, Spotify and Netflix. The objective is to foster additional eco-friendly and energy saving driving.

The reward plan intends to offer a competitive advantage to the New 500. Electric cars are no longer seen with raised eyebrows on the market and enterprises have a requirement to find out unique strategy to brand and create distinctness for their product. Furthermore, these automobiles are also contesting with conventional and frequently cost effective models.

Unlike Tesla, Fiat is not primarily linked with electric vehicles. The rewards plan has the likelihood to lure fresh clients and set up a branding that links New 500 with endurable driving.

In the meantime, the tech provider Kiri has an aim to “Think Big. Act Green.” The plan employed on the New 500 is on the basis of rewarding endurable activities. The firm trusts to spread the implementation of the plan to foster other endurable consumption patterns such as the utilization of sustainable energy and giving importance to organic shopping. Even though it may be a top notch plan to pave way for drivers to receive access to coins purely for driving, there is no guarantee that it is the first such initiative.

Three years back, China’s BYD, which is the largest electric vehicle and battery manufacturer in the world, rolled out a carbon credit platform for offering rewards to drivers on the basis of their carbon foot print and overall performance.

The company also facilitated drivers to redeem rewards through the use of tokens. BMW Korea is also studying a blockchain powered rewards program and the car manufacturer is collaborating with VeChain for monitoring mileage on a blockchain powered app. Daimler and BBVA trialed the utilization of blockchain tokens with their staffs three years back by offering rewards to eco-friendly drivers.