Projects involving decentralized physical infrastructure (DePIN) are blooming. As part of developing user-owned infrastructure, users are finding that they can operate their wireless networks, participate in a decentralized GPU network, or run a small weather station.
DIMO, which stands for Digital Infrastructure for Moving Objects, is one of the DePin projects to watch out for in 2024. The project launched in late 2022 with the vision of being the world’s first decentralized, open, connected vehicle network. The team believes users should be the first and main beneficiaries of technology rather than giant corporations. So, to achieve this, they designed DIMO as an open, user-owned network.
The DIMO Marketplace is a vision for the future of an open, connected auto ecosystem that enables drivers to own their data. We’re proud of the growing collection of cost-saving services, vehicle utilities, and apps that make owning a connected vehicle more rewarding and fun.
— DIMO 🚙⚡️📡 (@DIMO_Network) December 29, 2023
What’s the problem?
Automakers such as Tesla, Ford, and GM have been installing onboard computers and cameras in their vehicles for the past ten years or more. The problem is that drivers do not have access to their data as it has been safeguarded in a walled garden. However, automakers should not have sole access to or ownership of these computers, cameras, and platforms that use this data. Drivers and users should play a role in this process too. And that’s what DePIN projects like DIMO seek to solve.
DIMO seeks to solve these problems. And create an open, interconnected ecosystem. DIMO provides a safe, user-owned platform for connected devices. And empower anybody to take control of their IoT assets and develop cutting-edge mobility apps and services.
What’s DIMO about?
DIMO simply offers drivers incentives and puts them back in control of their digital experience. With DIMO, users can compile and safely share their own vehicle data with a network of businesses and developers. In addition to gaining knowledge about their cars, drivers who participate in the open ecosystem can receive DIMO incentives and contribute data that can be utilized to develop new applications and technologies.
DIMO caters to the needs of vehicle owners, developers, and data consumers. It serves as a connected marketplace that helps drivers own their data. Vehicle owners use DIMO to get more out of their vehicles, as the DIMO apps help them assemble, use, and leverage the data generated by their vehicles.
Furthermore, data consumers and developers can build apps and services on DIMO, as it provides a cheaper, stable, and open platform. This minimizes the cost associated with delivering mobility products and services.
Rudolph's Nose: 89% charged
Odometer: 999,999,999,999 miles
Vehicle Location: North Pole, Arctic OceanA happy holidays to the entire DIMO community, no matter what vehicle (or sleigh) you drive. ❄️ pic.twitter.com/qOpbvMFgIq
— DIMO 🚙⚡️📡 (@DIMO_Network) December 25, 2023
DIMO leverages cryptography, the Ethereum Virtual Machine (EVM), open-source software, and hardware to:
- Set up an open identity system for vehicles, users, and trips.
- enable individuals to self-custody their data, granting them control over who they choose to share it with on a case-by-case basis.
- Allows developers to leverage available data to create better products.
- Partner with it licensed hardware devices, such as the cutting-edge DIMO x AutoPi device, and approved software APIs, like the Tesla API, to integrate verified telemetry data into vehicles and trips.
- enable companies to issue verifiable credentials to trips, users, or vehicles to make a secure claim.
- Establish rewards for users to join the network.
The DIMO app is available on both the Apple and Google Play Stores.
How does DIMO work?
Drivers get DIMO tokens when they connect their cars and exchange data. As a baseline issuance, everyone receives a piece of the weekly drop. In addition, users get extra incentives when data consumers and app developers pay to access their cars or personal data via the marketplace.
Another massive shoutout to our Authorized Reseller Partners that increase accessibility of DIMO hardware around the globe: @BlockGeniusEU, @CosmosIoT, @HeliumMart, @Freshminers_, @TechnoStoreX, @Heliumdeploy, @MokenMarket, and Ampchampment. pic.twitter.com/EpWWm5KjAc
— DIMO 🚙⚡️📡 (@DIMO_Network) December 29, 2023
Holders of $DIMO tokens have the power to affect how the protocol operates. They can vote on core protocol problems such as software code upgrades, intellectual property licensing, fee-setting, and reward distribution.
DIMO Ecosystem Growth and How It Contributes to DePIN
Most crypto experts believe DePIN projects will skyrocket in 2024. And DIMO is one of the outstanding DePIN projects. It has a strong user base and a solid ecosystem of partners. And this makes it a project to look out for.
Platforms like Messari have been tracking DePIN for a while because they believe this sector will take the market by storm. Messari recently released the state of DePIN report, and the results are fascinating.
There are over 650 projects in this budding sector, with a market cap of $20 billion. What’s more? The report identified DIMO as one of the DePin projects to look out for. DIMO is one of the top DePINs by capital raised ($20 million).
DIMO has seen remarkable growth over the past 3 months, and that’s one reason to stay bullish on this project. The project’s connected vehicle ecosystem grew 10x in 2023. DIMO moved from 2.5k to 25k in 2023.
So, from an investment point of view, DIMO’s ecosystem growth makes sense to add it to your watchlist. There is an ecosystem with different partners supplying real-world value. Some of the services you can access via the DIMO mobile app include:
- battery intelligence,
- smart insurance,
- vehicle health,
- car sharing
There are over 20,000 drivers and fleets using this platform. They are all destroying the monopoly car manufacturers have on vehicle connectivity. The ecosystem has different parts.
- Authorized resellers
- partners
- Apps
Here are some of the partners:
- Marble handles insurance
- Bluedot: handle expense management for electric car owners and fleet owners.
- Natix Network provides an AI-powered map.
- RepairPal provides access to a wide list of certified car repairers.
- Tenet Energy: It helps you get an electric car for less money.
- Polygon
- Helium
The DIMO Network is not just about connecting vehicles. It's about reimagining the entire mobility ecosystem from the bottom up.
From data privacy to innovative applications, we're setting the stage for a more inclusive and empowered future behind the wheel. #DePIN
— DIMO 🚙⚡️📡 (@DIMO_Network) December 30, 2023
Conclusion
There are over 10,000 Tesla cars connected to DIMO. DIMO uses a reward system to incentivize more people to join. So, you receive DIMO tokens for inviting your friends to connect. And this system seems effective.
Messari’s report shows that DIMO is a huge project in the DePIN space. It makes sense to add this to your watchlist. Interestingly, the rise of DePIN projects on Solana is one of the factors behind the platform’s growth. If you’re all of DePIN, you might want to check out DIMO.
