Since 2 November, the Austrian blockchain company Riddle&Code has made it possible to monetise vehicle-generated data and trade it on an automated marketplace. With the product Drive&Stake, an exchange of tokenised data is to take place that will not only benefit other companies, but also vehicle owners.

Riddle&Code explained that Drive&Stake offers all participants the opportunity to be part of and benefit from a decentralised economy. The company wants to involve drivers in the monetisation process. In this way, the data generated while driving can be converted into tokens. Participants can then exchange these for fiat money or make them available for staking on various platforms. This can then be used to increase one’s assets.

The Vienna-based company cooperated with Ocean Protocol, EFS Consulting and ELOOP. While Ocean Protocol is responsible for data exchange and the associated monetisation, EFS Consulting and ELOOP are working on specific use cases of the technology in practice. In the collaboration, Riddle&Code provides the blockchain-based marketplace and the physical component for it – an auto-wallet to tokenise the generated data.

According to a press release, specific use cases of the automated marketplace include pay-as-you-drive applications, connected parking in the car sharing sector, incentivised mobility patterns, sustainable EV battery management and supply chain traceability.