Inspiration

Greenhouse gas emissions from the transport sector have more than doubled since 20th century, with around 80% of this increase coming from road vehicles. Currently, the transport sector is almost completely dependent on fossil fuels. It contributes approximately one quarter of all energy-related carbon dioxide emissions. with the global car fleet due to triple by 2050, greenhouse gas emissions from transport are growing faster than any other sector.

Few out of many impacts of Greenhouse gas emissions

• Human-induced climate change - waterflood and Forest Fires • Urban air pollution - Lack of fresh air • Toxic acid rain - Infertile soil • Coastal and ocean acidification - Impact to marine life • Melting of glaciers and polar ice - Global Warming

By addressing the road transport, Passenger and Freight we can address nearly 70% of the carbon emission from Transportation sector.

Vehicle Speed and Emission:

Driving with more accelerations, deceleration, stops and starts increases exhaust emissions and brake- and tyre-wear, which in turn produces particulate emissions. Over 75% of road transport particulate emissions come from tyre- and brake-wear, not exhausts. This means driving style is an increasingly important determinant of overall air quality.

The Paris Agreement is a legally binding international treaty on climate change which was adopted by 196 parties with a goal to limit global warming, Majority of the participating countries have committed to being carbon neutral by 2050.

Eco Driving - An achievable solution to reduce Carbon Footprint

Eco driving techniques include how to start the engine, when to start braking the vehicle, and maintaining a suitable speed, which are concepts that reduce fuel consumption and, thus, CO2 emission. CO2 emission reduction values range between 0.5% and 10% depending on the road type (urban roads or highways).

What it does

Objective of this project is to encourage the drivers of the road transport to use Eco mode of driving by incentivizing through crypto tokens. The speed of the vehicle and the Co2 emissions are vehicles are captured by the OBD sensors and stored in the Blockchain technology. Daily, the driver is incentivized in forms of crypto tokens based on the kilometres driven in the Eco mode and reduction in Co2 emission.

XDC Eco Insurance:

To participate in this initiative, the driver or owner will buy the XDC eco insurance from XDC network at an optimal cost. This insurance will create an account for the user in the XDC network and provide them a wallet to maintain, withdraw and transfer the tokens credited to their account:

XDC Wallet:

Once the user is enrolled in the initiative, they will be provided with a crypto account and a secured wallet which allows them to check the balance of the credited tokens, exchange them to another digital currency or use them in the allowed gas stations to refill or car services.

XDC Eco Marketplace:

This initiative will create a new crypto market linking the petrol/Gas stations, Car repair centers, Car wash shops and car accessories shops. The vendors will be provided an account to accept the XDC eco tokens with an associated value and render service to the users. This will open up a new market place and expand XDC network.

XDC eco tokens utilization:

The users can use the XDC eco tokens for the following purpose

  1. Refill the petrol/gas in the respective gas stations
  2. Car service
  3. Car wash and accessories
  4. Exchange to another digital currency using XDC pay wallet.
  5. Redeem to the value of CBDC(accordingly to law regulations).
  6. Use the tokens to renew the insurance periodically.
  7. Support Carbon offset projects to balance out your pollution

ROI for the Founder/Investor

  1. Users will buy insurance to participate in the initiative and they will have to renew every 6 months or an year based on the subscription.
  2. Cost of the OBD sensor can be included with the initial insurance purchase(it cost approximately 1000INR/80USD).
  3. Expansion of the XDC network to Petrol stations, Car service centers, Car accessories shops.
  4. More usage of the XDC pay wallet to exchange with other crypto currencies.
  5. Corporate social responsibility by encouraging ECO driving and promoting sustainability.
  6. This idea can be expanded to Super markets and other commercial services by allowing them to accept this eco tokens.

Challenges:

  1. Initial adaptation of the initiative: To overcome this, we need a strong GTM(Go to Market) strategy and some joining bonus to encourage people to buy this insurance.
  2. Procurement of the OBD sensor, compatible with different models of vehicle: Based on my research the OBD sensors are compatible with most of the vehicles manufactured after 2016. This will require some more research on finding the best suitable and affordable sensor.
    3: Tie-up with Vendors: This again requires marketing and some allowances to the shop keepers to initially accept the token for their service, once established, founders can start taking commission as well out of it.

    This idea of incentivization and some trainings for eco driving will help in reduction of carbon footprint across the globe and safeguard a better living world for current and future generations.

How we plan to build it

On-Board Diagnostics sensor

This on-board computer system collects information from the network of sensors inside the vehicle, which the system can then use to regulate car systems or alert the user to problems. The OBD-key is a device that plugs into the vehicle’s data link connector with which information from the vehicle’s OBD can be captured. This information is sent through a mobile application [47] to a smartphone via Wi-Fi (frequency of 1 Hz) where the information is stored and subsequently transferred to a computer to process all the recorded data. With this device, around 128 instantaneous parameters can be obtained such as GPS position, speed, acceleration, revolutions per minute (rpm), fuel consumption (L/s), and CO2 emissions (g/s).

Blockchain Technology

• Vehicle parameters captured by OBD key is transferred to User’s smartphone though WIFI connectivity. • Plugin connectors are used to extract these offline data and store them in XDC network. • Parameters are analyzed in the XDC network, and the driver is credited with NFTs in his wallet daily. Solidity Program: Smart contracts to define the feature. Framework: Hardhat or Truffle Framework APIs: jQuery Frontend: NextJS / ReactJS Test Network: Apothem or Mainnet.

Challenges we ran into

Development in progress.

Accomplishments that we're proud of

Development in progress.

What we learned

Development in progress.

What's next for XDC ECO-LOGICALLY DRIVEN NFT(s)

  1. Pilot the project with a group of people to connect the OBD sensor to their car, study the data and test the smart contract and incentive mechanism.
  2. Do research on the best OBD sensors available in affordable cost to scale this project to couple of metro cities.
  3. Look for sponsors to pilot the project in two cities.
  4. Prepare a dashboard and work on the activities to take the project to international users.
  5. Make this project a major milestone to achieve to attain Carbon neutrality by 2050.

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