Tokenization of physical assets create new solutions for OEMs, Dealers, Fleet Operators, and consumers. metaLINXX patent-pending Linked Control Tokens (LCTs) provide unique opportunities for asset tracking, feature use within the transportation industry.
How Do LCTs Help the Transportation Industry?
Tokenization of data and vehicle systems can provide building blocks for monitoring and control applications. The commercial transportation industry is already heavily reliant on telematics systems. Most current telematics systems are for data collection and monitoring only. Integrating LCTs with telematics infrastructure can enable standardized control and reporting features not currently available.
Tokenization of traffic routes will enable autonomous vehicle traffic control systems to more efficiently communicate with vehicles and increase efficiencies. In the future, autonomous drone flight plans can be tokenized and submitted for approval from a regulatory agency. Upon approval the flight plan can be executed and monitoring systems can detect if the drone has veered from it’s intended flight path.
Use Case: EV Rental Car Fleet Operator
Over the course of the next 10 to 20 years the concept of consumer vehicle ownership is likely to evolve into something more akin to cellular telephone service subscriptions. Individuals, families or corporations will subscribe to a fleet service that gives them access to a specific vehicle or a group/class of vehicles. Subscribers will possess the equivalent of a key fob or an LCT with a wireless interface such as Bluetooth or NFC. This “access key” could be an app on their mobile phone or smart watch.
The user’s LCT key is linked to their subscription plan. The vehicle’s Authentication Controller will determine if the user is allowed access and also which features are available or limited. Subscriber LCTs would enable or limit vehicle speed, geographic range, in-vehicle entertainment, etc. When a subscriber travels outside of their home area they could have access to vehicles authorized by their plan without needing to contact a separate rental company.
Tokenization of physical components, vehicle subsystems and complete vehicles will allow the fleet operators to monitor usage, plan for scheduled maintenance and allocate resources more efficiently than current systems allow. If a battery module or other tracked component within an EV is nearing the end of its useful life the system would be aware and appropriate steps can be taken proactively. A maintenance ticket could automatically be generated and submitted to a subcontractor responsible for the affected subsystem.
The possibilities for LCTs in rental fleets is practically unlimited. LCTs combined with an Authentication Controller will enable more efficient use of fleet assets to meet its subscriber’s needs.