What is AMO Coin?
AMO is a blockchain project to create and operate the AMO market, a market where car data can be shared and exchaged.
With the rapid development of connected cars, electric vehicles (EVs), autonomous cars, and smart cars, there is a need for a decentralized, open marketplace for transactions in the automobile industry. AMO Market will support the exchange of data between all stakeholders.
Participants in the AMO Market are all stakeholders within the automobile industry be it car users, automobile manufacturers, or automotive service providers. They participate in AMO Market simultaneously as data producers and consumers in a cycle of value sharing and creation. A technology-enabled economic system, AMO Market is built on the AMO Blockchain and supports the fair valuation of data and distribution of rewards. Accounting for adjustments in supply and demand, payouts and purchases are made with AMO Coin.
Car data is no longer limited to narrow use by a select few, but with express consent of data owners becomes a shared asset that benefits other participants in the AMO Market. When service providers or manufacturers want to access car user data, proper authorization is brokered with data owners, and even then all information and sensitive data is protected using cryptography.
Ultimately, AMO Market aims to create an environment where car data and information are no longer used and held by a few select companies, but are used and shared through legitimate and secure processes and transactions. As a result, car data will become a public asset and return more valuable and optimized services enjoyed by those involved.