I. Project Overview and Background
Originating in Brazil, DriveOn is mainly engaged in the "Usage Based Insurance" (UBI) platform, and its core product, Cryptomiles, is a "mileage encrypted mileage coin", which uses blockchain technology and mobile data. Reinventing the value chain of the motor insurance market.
With the help of autonomous driving behavior analysis, the driver's safety habits are transformed into a scoring mechanism.
The platform converts such behavior into crypto token rewards and returns them to users;
In-depth cooperation with insurance companies and Internet of Vehicles platforms, covering insurance, Internet of Vehicles, and driving data services;
Official positioning: "a safer, smarter, and more valuable auto insurance platform".
2. Core Service Architecture
1. UBI 3.0 Core Model
Behavior Data Collection: Collect multiple driving behaviors during the user's driving, such as braking, acceleration, steering, and speed, through apps or Internet of Vehicles.
Recorded on the blockchain: all data points are hashed and stored on the chain to improve transparency and tampering;
Behavioral Crypto Token Rewards: Crypto tokens are issued based on safe and fuel-efficient driving behaviors;
Value rebate and insurance rights: The obtained tokens can be used to reduce premiums, exchange services, and participate in other on-chain activities in the ecosystem.
2. Data Privacy Management
After the user authorizes the driving data, the driving data is collected and uploaded to the blockchain with the principle of privacy first (anonymization, desensitization). Only behavioral summaries and scores, not location exposure, are stored to strengthen compliance and user trust.
3. Application Platform Ecology
User-side application: the mobile terminal displays driving behavior reports, token rewards, and points exchange functions;
Insurance company back-end docking: Insurance institutions can query driving scores and risk indexes for pricing and risk review;
Open Data Service Interface: In addition to insurance, the platform also provides driving data API interfaces to Internet of Vehicles manufacturers and intelligent transportation systems.
3. Product line and user scenarios
1. Cryptomiles App
Private car owners: the safer and more economical the drive, the more crypto rewards you get;
Drivers of shared cars and rental cars: the platform guides safe driving habits and reduces wear and tear and insurance costs;
Fleet managers: Deploy management in batches, track employee driving ratings, and optimize training and insurance strategies.
2. Token incentive system
:Token will be automatically credited to the account after the end of the drive;
The platform allows Tokens to be redeemed for insurance discounts, regular rewards, or partner services (e.g., free maintenance, car wash coupons);
The total amount of tokens is set to be limited to incentivize behavior, while approximating the deflationary model and maintaining the value of tokens.
3. Cooperative Ecosystem Construction
The core cooperation objects are insurance companies, Internet of Vehicles equipment manufacturers, and fleet management platforms, based on the auto insurance ecology;
Collaborate with digital wallets and trading platforms to build a token circulation ecosystem;
Focusing on the Brazilian market, it plans to expand to other Latin American countries or European markets in the future.
4. Technical Architecture and Blockchain Mechanism
1. Data Acquisition & Analysis Module
Capture sensor data via mobile apps and in-car Bluetooth devices, After being connected to the microprocessor, a scoring algorithm is executed to convert driving behavior into a driving index.
2. Blockchain Application Layer
Behavior index and reward application generate hashes and store on-chain evidence;
The smart contract verifies the driving score rules and distributes tokens;
The above operations are transparent and tamper-proof, making it easy for insurance companies to audit and conduct compliance analysis.
3. Token issuance and economic rules
Cryptomiles, as the platform's native crypto asset, is automatically minted and managed by smart contracts;
Released based on driving behavior and platform growth;
The circulation, airdrop, and exchange rules of Token are all implemented on-chain to ensure fairness and transparency.
4. Interface & Extensibility
Provide API interface to connect with insurance system and Internet of Vehicles platform;
Data sharing complies with GDPR/LGPD privacy regulations and is designed with an anonymization layer;
In the future, it will be connected to the policy-based transportation system, the urban smart management platform, and the environmental protection credits.
V. Regulatory Framework and Compliance Analysis
1. Insurance Regulatory System
Local UBI insurance in Brazil is subject to compliance SUSEP (Brazilian Insurance Regulator) Regulatory Code;
DriveOn must be licensed as an insurance product by SUSEP in order to legally use the Behavior Scoring and Token Reward mechanisms;
Different levels of behavior correspond to different premium discounts, which must be transparently declared and informed to consumers.
2. Data Privacy & Protection Regulations
The
blockchain evidence preservation mechanism complies with the LGPD (Brazilian Personal Data Protection Law) anonymization requirements;
If you expand into the EU market, you need to comply with GDPR requirements;
Users have the right to access and delete their on-chain behavior _HASH to protect personal privacy.
3. Crypto Token Regulatory Requirements
Cryptomiles are defined in Brazil as non-security digital assets of a rewarding nature;
If it is tradable, it needs to be registered with the CVM (Securities Regulatory Authority);
If it is only used as an insurance internal rebate ใช token, the procedure will be simplified, but the exchange mechanism must be transparently disclosed.
4. Financial Transparency & Anti-Money
Laundering
The platform has a KYC process, which pays attention to the binding of user identity and driving data;
Token circulation is monitored by anti-money laundering regulations;
Earnings rebate is a statutory financial reporting obligation, which needs to be accompanied by external audit and financial and tax disclosure.
6. Market Positioning and Competitive Landscape
1. Market Opportunity
As a global auto insurance trend, UBI has a rigid demand for driving safety behavior;
Crypto incentives lead the market differentiation competition and provide users with a new insurance value experience;
DriveOn has already established an initial ecosystem in the Brazilian domestic market, and has the opportunity to replicate it in Latin America and Europe.
2. Key Competitors
Traditional auto insurance companies: existing UBI MVPs, but often lack token incentives;
Technology insurance newcomers: such as "Yeszmi", are also experimenting with blockchain technology, but due to regional restrictions;
Connected Vehicles Technology Company: Provides device capture but no token incentive connection insurance.
The advantage of DriveOn is the insurance + blockchain dual-style architecture, which integrates driving management and financial ecology.
3. Positioning focuses on
the trinity of "safe driving + blockchain + financial incentives";
Instead of only providing driving scores, it is recommended to close the insurance loop in Token;
It covers a variety of application scenarios such as private users, shared mobility, and fleet management.
7. Advantages and Challenges
Core Advantages
Innovation-driven: Token incentive mechanism provides differentiated insurance purchase attraction;
Technical barriers: blockchain evidence storage enhances transparency and customer trust;
Local advantages: focus on the Brazilian market, quickly obtain cooperation between regulators and insurance companies;
Multi-party integration: connecting user behavior, tokens, insurance, and smart travel ecosystems.
Current Challenges
Regulatory
regime uncertain: SU SEP and CVM are still evolving to regulate the type and use of tokens;
High expansion costs: The relocation of the runway to other countries requires re-docking of supervision and local cooperation;
It is difficult to standardize behavioral data collection: it is necessary to unify the user-side equipment and scoring algorithm;
Customer education barriers: Users who are accustomed to traditional insurance still have insufficient awareness of token incentives.
8 Development history and progress
- In
2020:D riveOn was deployed in several cities in Brazil UBI intelligent driving system;
2021: Launch of Cryptomiles Token and user reward mechanism;
2022: Completed the first round of cooperation agreement and trial operation with insurance companies;
2023–2024: Reach platform interface docking with multiple Internet of Vehicles manufacturers;
2025 goals: expand the coverage area of the program, open the insurance linkage, and expand the trading of the Token secondary market;
At present, thousands of drivers and several insurance companies have landed; In the future, we will focus on European expansion and market growth.
9. Summary
Based on blockchain and driving behavior, DriveOn has opened an innovative model of "behavior-driven Token + UBI insurance". Cryptomiles translate "safe travel" into economic incentives that enhance user engagement and promote safe behavior. The platform has significant technical barriers and commercial differentiation, but faces challenges such as regulation, market expansion, and user education.
If the platform can continue to promote insurance compliance, expand ecological cooperation, promote the implementation of Token applications and expand overseas markets, it is expected to become an industry benchmark for a new generation of "intelligent driving Token insurance", driving the integration of insurance, Internet of Vehicles, and smart cities.
