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DIMO Connects Cars with the Helium Network
The DIMO network has just connected its Data Miner to the Helium 5G network. Providing another source of crypto income for people who drive a lot.
How Web3 and IoT Changes everything
I am all about decentralized infrastructure, having already been involved in the Helium network.
I love how companies like Helium and DIMO work on real-world issues, not just the metaverse. I am up for improving our world, not necessarily escaping into a new digital world and leaving ours behind. I guess you could call me one of the earth custodians.
I think the more significant, less risky, and more valuable long-term plays will be in the digitalization of the real world.
Big enterprises will not go away, but Web3 topples their power to some degree.
The Web2 model put everything in the hands of these big corporations who siloed the data to benefit from it.
Web 3 flips that.
The power and decisions are now moving into the hands of the people who use the networks. And the big enterprises are paying the people to access their data for a change.
For example, take Helium. Companies like Nestle and Volvo pay me to move their data through my Helium hotspot. It's cheaper for them than cellular, and I, as a user/provider, get to benefit directly. (And so can you.)
It's funny because it is finally using humans' virtue of selfishness to benefit all. That is really what web3 does is to maximize the concerns of one's interest. You want your project to do well for yourself, but it makes the entire project better for everyone. Brilliant!
Providing data to the networks might soon be a whole new income source for people whose jobs are being displaced by technology and AI.
Dimo's mission is " ...to improve the real world by building a foundation for open cyber-physical systems."
So now they are empowering people who drive a lot, such as Uber and Lyft drivers, the opportunity for an additional income source.
Helium-inspired DIMO has now connected its Data Miner to the Helium 5G network.
Recently, DIMO closed its first outside round of funding, allowing them to hire new team members and engineers. DIMO is working on their first Mobile app alongside their Data Miner.
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.
You can participate in a couple of ways. You can get yourself a Helium 5G miner so that you can benefit from all of the data that will be generated from this.
You can get a DIMO miner and hook it up to your vehicle's OBDM2 port.
You can accelerate your rewards from DIMO in a couple of ways.
- By having a rare vehicle
- Having an Electric Car
It will be interesting to watch this project as it evolves and grows.