Teaser of the company
Volvero is a drive sharing app where owners can share their vehicles with drivers. Our app creates a system in which one can have access to a car, a motorcycle, or commercial vehicle in a most efficient and sustainable way saving time and money. By registering on our platform owners can set the sharing time, distance, price, and other terms, being able to accept or decline drivers’ request. At the same time, drivers are able to choose any vehicle and terms of sharing that best suit their needs. With the help of AI and advanced technologies, Volvero guarantees maximum security and transparency providing necessary information such as the performance of owners, drivers, and vehicles.
Volvero has tested, validated and adopted Knowtary‘s blockchain-based solution in the scope of BlockStart:
Why has the company decided to implement the solution: At Volvero we believe that keeping a distributed and decentralized system, when it comes to mobile assets such as vehicles, is the right solution for providing users with a reliable and trustable platform. Indeed we retain that DLT can solve the problem of the lack of trust among users and the excessive asymmetric information the parties involved experience: drivers do not know how the condition of the vehicles rented are and owners do not have access to data about how their vehicles were driven by the renters. In particular, we have developed the “5 layers Blockchain approach” called C.I.N.C.O.
Added value of the solution to the company:Volvero is a game-changer of the market thanks to the technology innovation leaps. Volvero is the first startup that is leveraging advanced technologies matched with a car-sharing service. First of all, it offers an insurance policy that covers various types of vehicles (cars, motorcycles, recreational vehicles, vans, etc.) of private and commercial owners. Moreover, it uses technology for data analytics of drivers’ behaviours. The software embedded in the app is based on data produced by the sensors of the mobile phones of drivers (GPS, gyroscope and accelerometer). It collects data while driving and performs data analytics (AI) to give scores to users and third parties reducing hazardous conducts of users through gamification by rewarding them with credits that can be spent in the partnership program. All data, contracts and insurances are stored in a distributed ledger (blockchain) allowing for improved data transparency, reliability and maximum security.
What has been done during BlockStart’s pilot stage: We have tested a solution for notarizing several docs valid as a reference for users and authorities. Firstly we defined the players involved in the pilot and the technology used, then the technical functional requirements and finally, we thought about the customer journey for understanding in details when and how we should have triggered Knowtary’s technology. During the first meeting with Knowtary’s team we have finally reviewed the whole process and designed a very user-centric solution.
When a user is using Volvero, we are hashing some data related to drivers and owners information, to the vehicle and to the details of the sharing of it like date time and location of both the pick-up and drop off and also other key aspects like the pictures of the vehicles and the driving data collected while a user is driving someone’s else vehicle on Volvero. This process is then used as a reference for future uses of the service, rewarding great users and well maintained vehicles and penalizing under the average ones.
Meet the Team
“Blockstart offered a straightforward way to test and adopt some features of the blockchain technology we were really looking for in Volvero as they can provide a better user experience to our customers. Volvero indeed is an app for sharing vehicles that connects owners with people who need one, saving time and money. Through AI and advanced technologies, we improve quality and security with crystal-clear full insurance coverage. Volvero is easier, safer and more reliable than any other app. Through Blockstart we added some very useful tools like the process of notarization of certain documents and data involved with the car sharing process, using the data produced by the mobile phones of users as oracle for then creating smart contracts that offered a fully comprehensive coverage to vehicles and drivers. .”
Total funding received by Wego srl, under BlockStart: €3,000 for Pilot Stage