DePIN Can Make Car Ownership Cool Again

The
automotive
industry
is
at
a
crossroads.
We’re
racing
towards
a
future
of
electric
vehicles
and
autonomous
driving,
yet
something
meaningful
seems
to
be
slipping
away:
the
joy
of
car
ownership.
The
passion
and
personality
that
once
defined
car
culture
is
fading,
replaced
by
a
less
exciting
world
where
vehicles
are
mere
transportation
devices.

This
op-ed
is
part
of
CoinDesk’s
new



DePIN
Vertical,
covering
the
emerging
industry
of
decentralized
physical
infrastructure.

But
what
if
the
unlikely
combination
of
blockchain
technology
and
the
automotive
world
could
reignite
that
spark?

That’s
where
decentralized
physical
infrastructure
networks
(DePIN)
come
in.
While
much
of
crypto
has
been
overly
focused
on
speculative
trading
and
other
exclusively
digital
products,
DePIN
networks
connect
blockchain
to
the
physical
world.
From

Helium‘s
decentralized
wireless
networks
to

Render‘s
distributed
GPU
platform,
innovators
are
finding
ways
to
build
better
infrastructure
while
making
the
ownership
of
physical
assets
more
rewarding,
more
engaging,
and
frankly,
more
fun.

So,
how
does
this
relate
to
cars?
Enter

DIMO,
a
DePIN
network
built
to
improve
the
car
ownership
experience
with
cutting-edge
vehicle
integration
technology.
It
works
by
giving
vehicles
an
on-chain
identity
and
putting
owners
in
control
of
the
car
and
its
data
to
unlock
entirely
new
services,
experiences
and
economic
opportunities.

For
most
people,
their
car
is
the
second-largest
purchase
they’ll
ever
make
after
their
home.
Each
year,
it’ll
cost
them
about

$12,000,
require
painful
pilgrimages
to
the
DMV,
and
maybe
even
sabotage
a
trip
with
a
surprise
check
engine
light
or
flat
tire.

It’s
2024.
Modern
technology
should
have
made
ownership
cheaper,
easier
and
more
rewarding
by
now.
Not
only
should
you
be
saving
way
more
money
on
expenses
and
automating
all
the
hassle,
you
should
be
earning
money
by
monetizing
your
vehicle
data,
something
experts
say
could
be
worth

$800
billion
by
2030,
and
you
should
have
access
to
a
rich
ecosystem
of
apps
and
services
built
for
you
and
your
vehicle.
The
siloed
approach
that
automakers
have
thus
far
pursued
in
implementing
smart
vehicle
technology
has
held
this
future
back.
It
has
been
a
disaster
for

security,
privacy
and
openness.

Imagine
earning
crypto
tokens
for
simply
owning
a
car,
while
the
data

you
opt-in
to
sharing
contributes
to
improved
traffic
management,
better
urban
planning,
cheaper
insurance
and
a
better
eventual
trade-in
value
for
your
car.
Suddenly,
your
depreciating
asset
becomes
a
source
of
passive
income.

But
DePIN’s
potential
goes
beyond
just
financial
incentives.
It’s
about
revolutionizing
the
entire
ownership
experience.
Remember
when
customizing
your
car
was
a
point
of
pride?
Your
Dad
might
have
spent
his
weekends
tinkering
under
the
hood
of
his
1987
Firebird.
There’s
probably
a
few
Polaroids
of
him
posing
in
front
of
it
hidden
inside
a
shoebox
in
your
basement.

DePIN
could
bring
back
that
sense
of
personalization
and
community,
but
in
a
distinctly
modern
way.
Imagine
a
world
where
your
car
has
an
on-chain
digital
twin,
allowing
you
to
customize
its
appearance,
participate
in
virtual
car
shows
or
even
race
digital
versions
of
your
real-world
vehicle.
Your
car
becomes
a
key
to
a
whole
new
ecosystem.
This
gamification
of
car
ownership
could
extend
to
the
real
world,
too.
Blockchain-based
systems
could
reward
safe
driving,
optimal
route-taking
or
real-world
carbon
offsets.
Suddenly,
your
daily
commute
becomes
a
game,
with
valuable
rewards
at
stake.

But
perhaps
one
of
the
most
exciting
potential
use
cases
for
DePIN
in
the
automotive
world
is
the
transformation
of
commerce
and
registration.
In
our
blockchain-enabled
future,
receiving
the
title,
financing
your
car,
insuring
it,
and
registering
could
be
done
in
seconds,
whether
you’re
buying
new
from
a
dealer
or
from
a
random
guy
named
Bert
on
Craigslist.

Your
car
will
have
its
own
wallet,
able
to
pay
for
fuel,
tolls
or
Starbucks.
No
waiting
an
hour
at
the
DMV
just
to
be
told,
“you
have
the
wrong
kind
of
paperwork,
come
back
tomorrow.”
No
more
pulling
out
quarters
or
downloading
a
bad
government
app
just
to
pay
for
street
parking.
It
would
be
impossible
to
build
a
system
that
is
open
and
trusted
enough
that
can
coordinate
all
of
these
complex
transactions,
without
blockchain
and
DIMO.

Read
more:
Scott
Foo
–



Welcome
to
DePIN
Summer

Of
course,
for
DePIN
to
truly
succeed
in
the
automotive
space
and
beyond,
it
needs
to
overcome
the
issue
of
accessibility.
For
too
long,
the
crypto
world
has
been
a
tech
club,
with
high
barriers
to
entry
in
terms
of
technical
knowledge
and
financial
risk.
DePIN
projects
need
to
focus
on
creating
user-friendly
interfaces
that
hide
the
complexity
of
blockchain
technology.
The
average
car
owner
shouldn’t
need
to
understand
smart
contracts
or
private
keys
to
benefit
from
these
systems.

This
isn’t
a
pipe
dream.
The
groundwork
is
being
laid
at
DIMO
today,
where
nearly

100,000
cars
are
connected
and
the
infrastructure
that
will
make
scenarios
like
this
a
reality
is
coming
together.

For
those
of
us
passionate
about
both
technology
and
the
physical
world,
it’s
an
exciting
road
ahead.
We
have
the
opportunity
to
not
just
revolutionize
industries,
but
to
fundamentally
change
how
people
interact
with
and
derive
value
from
the
world
around
them.

The
principles
that
DePIN
is
applying
to
vehicles
can
be
extended
to
virtually
any
physical
asset.
Your
home
could
earn
tokens
by
contributing
to
a
decentralized
energy
grid.
Your
smartphone
could
be
rewarded
for
participating
in
a
distributed
computing
network.
The
key
is
to
create
systems
that
offer
immediate,
tangible
benefits
to
users
while
building
towards
a
more
decentralized,
user-centric
future.
It’s
about
using
blockchain
technology
not
as
an
end
in
itself,
but
as
a
tool
to
enhance
our
interaction
with
the
physical
world.

So,
the
next
time
you
get
behind
the
wheel,
imagine
a
future
where
your
car
isn’t
just
about
getting
from
A
to
B,
but
a
seamless
extension
of
your
daily
life
and
your
personality
in
the
real
world
and
online.
That’s
the
future
we’re
building.
And
who
knows?
It
might
just
make
owning
a
car
cool
again.

Note:
The
views
expressed
in
this
column
are
those
of
the
author
and
do
not
necessarily
reflect
those
of
CoinDesk,
Inc.
or
its
owners
and
affiliates.