How the DIMO Data Miner works
Let's talk about this new little device and what it does. Your car has a universal car data port, also known as the OBD2 port. Well, that's not true, not ALL vehicles have them, but all vehicles built and sold in the United States after January 1, 1996, have them.
I used to use MetroMile insurance, and it was awesome because I only paid for insurance on the number of miles I drove in my tiny Smart Car. So it was a great deal. Until I decided to go to Canada in it, then ouch. It wasn't so great of a deal. If you don't drive a lot, though, this is a much fairer form of insurance than traditional insurance.
I am looking forward to more web3 companies jumping into this space. Dimo is already working with companies to share the data from the miner with users who have insurance through companies like this.
Their goal is to support every car globally with the OBD2 port, but they are starting with vehicles in the US and Canada less than ten years old.
Helium comes into the mix as the DIMO Data Miners will move the data through the 5G miners on the Helium network. So Helium hotspot owners will be making more income from data as this rolls out.
For those of you who have Helium 5G hotspots near freeways, you are going to be stoked!
How you can participate
The DIMO miner will earn rewards by sharing the data of the car securely, and you will be able to decide who gets access to the data besides the platform itself.
Throughout the week, drivers earn rewards based on their car's activity. I can imagine this will be a boon for Lyft and Uber drivers and Helium hotspot hosts and owners.