aitos.io’s X-Team wins award during 2019 Wanxiang Blockchain Hackathon

aitos.io’s X-Team wins third place award for xID-Blockchain Mobility Solution during 2019 Wanxiang Blockchain Hackathon

It has been a tradition for the past few years, during mid-September, to witnesses the return of the annual Shanghai Blockchain International Week. 2019 was no exception as an exciting three-day (Sept. 14th-16th 2019) Wanxiang Blockchain Hackathon and Conference was highlighted by the Wanxiang Hackathon competition. This competition typically attracts more than 100 software coders from the four corners of the Globe and was the backdrop to introduce this exciting and time-sensitive contest. During the challenge, the objectives were for each team to excel and strive to create innovative new Blockchain-infused technology solutions within a 48-hour time-frame to crowned as “Strongest Coder” moniker, concluding on September 15th. Of the 28 Teams that entered this competition titled “xID-Blockchain Mobility Solution” aitos.io’s X-Team was by far one of the more outstanding contestant participants, capturing a 3rd place award at the conclusion of the match!

Wanxiang Blockchain Labs has been hosting Wanxiang Blockchain Series Hackathon since 2016. Each contest brings together many outstanding blockchain developers and enthusiasts from all over the world. It was the earliest and largest in China, and one with beneficial rewards. In this hackathon, Wanxiang Blockchain Labs and Karma Automotive, the luxury electric car brand, set the challenge theme of “Blockchain and Automotive Industry” in the real business scenarios of car industry. The prize award amounts for this contest are quite lavish. The organizer Wanxiang Blockchain Lab provided a total of approximately US $20,000 Dollars in cash rewards and several tickets to the International Week, including: for 1st place prize winners, each team received approximately US$7,400 dollars and four guest passes to attend the ongoing Blockchain International Week conference; for 2nd Place prize winners, each team received approximately US$4,415 dollars and two guest passes, and the 3rd place prize winners received approximately US$1,475 dollars per team and one guest pass as well.

During the judging portion of the competition, a jury was invited and composed of a number of blockchain industry technical experts and representatives of investment institutions: Mr. Bai Shuo, former chief engineer of the Shanghai Stock Exchange, Mr. Guo Haojin, ETHPLANET project coordinator, Mr. Mikael Elley, chief of staff of Karma Automobile, Mr. Tang Yi, Vice President of Qiming Venture Capital, Ms. Xiao ZiWen, PlatON Chief Strategy Officer, Mr. Yu Wenbo, Distributed Capital Executive Director, Mr. Zhong Wenbin, Qtum Quantum Chain China CTO. , and Mr. Zhao Zilong, Wanxiang Blockchain Industry Application Division Leader.

On September 15, in the exhibition of the results of the competition, experts commented on and guided the entries, and even directly invest to support them.

Mr. Gary Xu, the CTO of aitos.io, oversaw and led the aitos.io X-Team team to victory. Within 26 hours of the release of the innovative topic to the team, aitos.io X-Team carefully analyzed the market positioning and brand significance of Karma luxury sports cars. Relying on the experience and knowledge of the connected car industry, aitos.io X-Team quickly brainstormed to form a blockchain-based xID mobility solution tailored for Karma Automotive.

Blockchain xID: the key to start your mobility journey

What is xID?

xID is an identification system on the blockchain that represents property rights. It relies on China’s national citizenship digital ID system and uses the blockchain as a carrier to register ownership or usage rights. The xID contains the combined information of the identity of the person and the identity of the thing (device). When the descriptive information for the rights of individual and thing/device are combined, that integration will form the complete contents of the smart contract. The blockchain uses cryptography to solve the "you are who you say you are" problem, but in the real world, the " you are who you say you are " problem must be solved before it can be used for the identification of real digital rights. The identity of a person in xID is verified by a government authority, but the identity cannot be directly reversed. It has both authority and user privacy protection.

Karma Automotive is a renowned and environment friendly luxury sports car brand. Karma Is fully tapped into the sharing economy and has worked hard to implement it. X-Team combines the industry insights of the domestic auto market and believes that Karma will be able to jockey for huge market share potential in the high-end car rental market in the future. Car sharing is essentially the management of the right to use large amounts of physical assets. xID is based on BoAT SDK by aitos.io and PlatON ’s data privacy-preserving solution, which together implement property rights management on the asset chain.

Balancing Business with Technology: the broad application prospects of xID in the car sharing market

Time-sharing car leasing, high-frequency asset mobility, and high-frequency right-of-use circulation creates the right environment and urgent need for Trusted, authoritative identity authentication and Tamper-proof property rights.

Car-sharing Mobility

The xID, blockchain mobility management solution uses eID signatures to solve the problem of identity verification for short-term renters. xID is used as a data record identifier in a smart contract on the blockchain to solve the problem of credibility when combining the identities of both the Person & the Car. This credibility issue is solved by combining the 4G module with a built-in BoAT SDK plus PlatON's data privacy-preserving, and KYC identification solution. Through the technical support of the cellular network, cloud platform, and blockchain, a distributed and tamper-resistant control is formed.

High-frequency Assets Assignment

Survey data from ISeeCar, the largest used car website in the United States, illustrates turnover rates of luxury brands' high-end cars is much higher than the average. The residual value assessment of these high-end used cars relies on a large amount of real and credible vehicle status information. This data collection process must be safe and credible to prevent criminals from falsifying or tampering with data. The initial investment in such a system is certainly not low.

The xID solution utilizes aitos.io BoAT SDK embedded and integrated into the cellular IoT module within the Car’s T-Box. While in the T-Box, the signed data in the vehicle is collected by the T-Box and then uploaded on the blockchain, thus ensuring that the data collected during the entire life cycle of the vehicle is obtained at the source, guaranteeing effective protection.

High-frequency of Usage Rights Transferability

In recent years, “the conversion from old to new drivers of growth “ has become a hot word. The application of technologies such as artificial intelligence and the Internet of Things has taken the lead to innovate in the sharing economy by exploring various new business application scenarios, with flexibility to meet the needs of consumers at all levels. The cost for luxury sports cars is astronomical, and the demand for most luxury cars on the market is seemingly temporary, yet can stimulate huge market demand through short-term rental usage. Creating a luxury sports car rental platform requires designing solutions for high-frequency digital user rights circulation. It consists of digital keys, KYC (Know Your Customer) user trusted identification, smart contracts, machine payments, Geo-fencing and real-time tracking, massive user portraits, big data, and intelligent order management system. xID-Blockchain Mobility Solution is used to rationally plan transportation capacity, reduce passenger-less driving and idle time, and improve vehicle operation efficiency.

New Decade and New Journey: join hands with top developers to build a global blockchain community!

2019 is the starting point of the new decade of blockchain development. Wanxiang Blockchain Lab sincerely hosts this event to promote the practical combination of blockchain technology and the actual needs of enterprises, so as to promote a true launch pad for future blockchain technology innovation. The 2019 Shanghai Blockchain International Week, hosting the Wanxiang Blockchain Hackathon was a complete success as it attracted developers from all walks of life from countries/regions like the U.S., Europe, India, Southeast Asia and other regions. In the closely-monitored development environment, participants were able to combine their industry backgrounds, expand their thinking. Based on Karma’s open platform architecture, coders were able to develop code for blockchain technology proof of concept projects into possible future business endeavors for many different business verticals with the feasibility of future commercial implementation.

About aitos.io:

aitos.io is a technology startup focusing on trusted identity authentication and data privacy-preserving for AIoT enterprises. Capitalizing on the rich resources of the global IoT industry, aitos.io has been instrumental to successfully navigate the fragmented IoT vertical industry with an advantageous early adoption strategy for surging cellular IoT platforms. The mission statement of aitos.io includes the ability to leverage the global alliance of cellular IoT manufacturers to empower IoT device manufacturers to tap the value of applications and data. At the beginning of the project’s launch in the second half of 2018, aitos.io obtained angel investment from IoT industry expert groups and strategic investment from Wanxiang Blockchain aitos.io also became a member of the sixth phase of the ARM accelerator growth camp.

Follow us by the link: https://www.linkedin.com/company/aitos-io

Trusted identity authentication and privacy-preserving data computation solution for the enterprises of AIoT

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