Moveco envisions a mobility ecosystem where consumers receive rewards for data shared. This is done through MOV tokens. Consumers that join Moveco's community can earn MOV tokens according to the quality and quantity of data shared. Moveco will apply blockchain technology to build a mobility loyalty program & redemption zone where MOV tokens can be used in exchange for discounts on gas, parking, car washes, and other benefits.
Moveco started out as a company building telematics, with the goal to improve the ease of car sharing through technology. Moveco launched Drivebox in 2017, a non-invasive telematics device that is able to remotely unlock/lock doors and read vehicle status in real time (eg. diagnostic codes and fuel levels). The technology provides alerts on driving behavior to encourage safe driving to lower risks for car sharing companies.
Moveco partnered with Cove (car sharing company based in Asia) to build and refine Drivebox with various automotive brands and models. It recently worked with Cove to install Drivebox in not only Cove's Jaguar Land Rover fleet, but also their INFINITI and Nissan fleet for the Cove & INFINITI car sharing partnership in Hong Kong.
While being part of the INFINITI 3.0 Accelerator program for Cove, Moveco founders gained a better understanding of the gap in building new mobility services of the future. Companies such as car OEMs, new mobility service companies, and insurance companies are lacking car generated data to assist them in better understanding consumers. The future of mobility is focused on people instead of vehicles. Through understanding consumers, personalized mobility can be better achieved.