What Is AMO Coin (AMO)?
AMO Coin (AMO) is a cryptocurrency built on the AMO platform. AMO is a secure platform for automotive data exchange, which is built to bring innovation to the transportation industry. The platform aims to empower individual drivers, app developers, and car manufacturers to obtain opportunities in automatic data. The platform seeks to make mobility more sustainable and rewarding to all users. The core values of the AMO platform include fair trade between participants, retention of ownership, openness for everyone to share data, and trustworthiness.
According to its whitepaper, today's automobiles generate massive amounts of data. The advancement of the automobile industry has resulted in innovations such as the connected car, electric vehicle, and autonomous vehicle. But the value of car data is limited due to the difficulties in collecting, storing, and sharing. Therefore, AMO aims to solve current problems in the automobile data industry like unsystematic data, inefficient data security, etc., and seeks to provide a secure and reliable market for car data. Addressing the issue of non-standardized data collection systems, AMO deploys a variety of hardware and software data collectors. Those hardware and software are:
AMO Data Collector- A device that collects on-car data like velocity, mileage, repair, etc. This device transfers and manages data through a Bluetooth connection to AMO Mobile Wallet.
AMO Mobile Wallet- A mobile application for collecting data and storing V2X (Vehicle to Everything) and user data. V2X is a vehicular communication system that transfers information from a vehicle to moving parts of the traffic system.
AMO Auto Wallet- It is software embedded in AMO to collect data for smart cars. It collects traffic information as well as geographical and user local information.
In addition, the AMO platform aims to introduce AMO Market, which is built on blockchain technology. AMO Market uses blockchain technology to improve the current automobile ecosystem that has numerous stakeholders. Moreover, the AMO Market provides a platform where any user can engage in sharing or processing car data. Participants in the AMO Market receive financial benefits while also contributing to the progress of the automobile industry.
Data providers initiate the operation by uploading raw vehicle data to the decentralized data marketplace, or AMO Market. The shared data is available for purchase in exchange for AMO Coin, AMO's native virtual currency. Any market-based value transaction involving the availability of car data gets compensated with AMO Coins. Car owners can use these AMO coins to get various products and services from manufacturers and service providers who participate in the AMO Market. The data consumers can obtain the data by paying the assessed value in AMO Coin.
History of AMO Coin (AMO)
AMO got launched in 2017. SangGyoo Sim is CEO of AMO, DS Kim is the CTO, and KwonKoo Kwak is the COO. The total supply of AMO Coin is twenty billion.
