QoodBlock is Coming -- The key to release the great value of automotive IOV data

SHANGHAI, June 21, 2018 /PRNewswire/ -- The 2018 Digital Automotive Congress, globally known by its revolutionary concepts, practical and insightful ideas, was held in Shanghai China between June 5th and 6th. Many global leaders in automotive industry such as BMW, VW and partners in the automotive industry gathered at the event. Experts held fierce discussions in the aspects of how the break throughs, transformations and process reengineering in the automobile industry will become under the big data era. QoodBlock was invited to present at the congress.

QoodBlock is Coming -- The key to release the great value of automotive IOV data
QoodBlock is Coming -- The key to release the great value of automotive IOV data

Vehicle data is regarded as the "new energy" of the automotive industry under the digital automotive era. The demands for vehicle data from automotive and transportation service industries are at the highest level in history and will continue to increase as the industry evolves under the information age. The recent "Facebook and Cambridge Analytica" data leak scandal and the "strictest" GDPR regulation by EU took effect on May 25th 2018 put great pressure on how the auto industry utilizes data securely. Unauthorized usage of data faces greater scrutiny and severe penalty from regulatory agencies. It has become a major obstacle for the development of the global digital automotive industry.

QoodBlock provides an innovative solution. QoodBlock is an IOV (Internet of Vehicles) data exchange platform based on blockchain technology. It aims at establishing a blockchain based vehicle data market platform, to ultimately solve the problems of data ownership and rights between data owners (vehicle users) and data holders (auto companies), and achieve legitimate, transparent and secure transactions based on smart contracts for them. Allen Liang, the founder of QoodBlock said in an interview: "The demands for vehicle data will only grow stronger. QoodBlock provides a transparent platform for data exchange legally and securely."

QoodBlock blockchain system mainly contains QoodShares rights module and QoodMarket data exchange. "Vehicle owners own the data and auto companies represent the dataowners" is the fundamental logic behind QoodShares, it resolves the data classification and data rights issues between auto companies and data owners. The vehicle data will be analyzed based on the standardized format of the "data dictionary", utilize smart contracts to perform transactions in QoodMarket. QoodMarket is a truly P2P direct exchange without the "middle man". The dual tokens design of QoodBlock provides sellers and buyers convenient transactions securely, making QoodBlock a benchmark project in the blockchain 3.0 era and showing its true value in industry applications.

QoodBlock aims at developing creative ideas and solutions to solve the distorted relationship in IOV, bringing the vehicle data owners and users into the digital automotive ecosystem. "Return the rights to the people", truly inspire the original force of digital automotive industry. Our ultimate goal is to become the pioneer and drive engine behind the intelligent automotive data ecosystem.

More details about QoodBlock: www.qoodblock.io

Photo - https://photos.prnasia.com/prnh/20180621/2169478-1