Greenhouse gas emissions from the transport sector have more than doubled since 20th century, with around 80% of this increase coming from road vehicles. Currently, the transport sector is almost completely dependent on fossil fuels. It contributes approximately one quarter of all energy-related carbon dioxide emissions. with the global car fleet due to triple by 2050, greenhouse gas emissions from transport are growing faster than any other sector.
Over 75% of road transport particulate emissions come from tyre- and brake-wear, not exhausts. This means driving style is an increasingly important determinant of overall air quality.
Eco driving techniques include how to start the engine, when to start braking the vehicle, and maintaining a suitable speed, which are concepts that reduce fuel consumption and, thus, CO2 emission.
Objective of this project is to encourage the drivers of the road transport to use Eco mode of driving by incentivizing through crypto tokens. The speed and Co2 emissions of the vehicles are captured by the OBD sensors and stored in the Blockchain technology. Daily, the driver is incentivized in forms of crypto tokens based on the kilometers driven in the Eco mode and reduction in Co2 emission.
XDC Eco Insurance: To participate in this initiative, the user will buy the XDC eco insurance from XDC network at an optimal cost.
XDC Tokens: Once the user is enrolled in the initiative, they will be provided with a crypto account and a secured wallet which allows them to check the balance of the credited tokens, exchange them to another digital currency or use them in the allowed gas stations to refill or car services.
XDC Market Place:
This initiative will create a new crypto market linking the petrol/Gas stations, Car repair centers, Car wash shops and car accessories shops. The vendors will be provided an account to accept the XDC eco tokens with an associated value and render service to the users. This will open up a new market place and expand XDC network.