The lack of real life adoption is a topic everyone in crypto has been lamenting about ever since. This is due to change. The Brooklyn based mobility startup Pave is now paving the way for a future in which ride sharing apps will no longer be in the hands of silicon valley giants, but - with the help of crypto - turn into decentralized network economies in which everyone becomes a co-owner.
How is that possible? By building on the decentralized web stack, Pave is able to unlock a myriad of functionalities which are just not possible on today's centralized internet. Before diving into this, let's take a look at Pave's product. At its core Pave sells a stylish e-bike which comes together with an app. So far so good. We've seen this before.
The twist is, that anyone with a Pave bike can rent out their vehicle to anyone who's got the Pave app installed on their phone. In addition Pave owners are in full control of their driving data which they can monetize on their own terms. This opens up a completely new path towards a true sharing economy. There's no longer a centralized company renting out bikes, cars or whatever new hybrid vehicle there is, but the owners of the e-bike themselves. Riders take the profit and they are in control of their data.
Imagine you cycle to a co-working space or office every morning; until lunch time you're most likely not touching your bike. But what if you could rent it out in the meantime to someone else who wants to run some errands? Pave does exactly that.
And here the web 3.0 features come into play. Bike ownership and owner access control security is enforced by an NFT (ERC-721). Possession of the token corresponding to the physical bike in the owners' Pave dApp grants access to the bike via bluetooth.
The Pave wallet also supports crypto and fiat payments which are exchanged between bike owners, fleet operators, renters or service providers as a means of exchange for rental, services, discounts or other network rewards or incentives.
It's due to the Pave Network's decentralized, peer to peer architecture that users are free to interact directly with each other without Pave as a middleman in order to rent out their bikes to each other.
The Pave Network is radically different from other mobility networks commonly used by conventional connected cars, e-bikes and rental scooters. It is a P2P/V2X, blockchain based network which is far more decentralised and disintermediated than legacy client-server networks and therefore offers Pave bike owners enhanced privacy, control and participation opportunities.
Each bike becomes a peer-to-peer node in the network, the bikes are free to also interact directly with network service providers (V2P), the environment and infrastructure around them (V2I) or even with other bikes (V2V). The result is a mobility network that enables permissionless innovation and helps foster network growth and the development of services that benefit all Pave network participants.
For its decentralized node architecture Pave builds on top of the Streamr Network. Like this all metrics data is relayed through a decentralized peer-to-peer network directly to the Pave app, bypassing centralised services entirely, as well as helping to secure and extend the Streamr Network. Using the Network also opens up opportunities for Pave riders to opt-in to a Data Union, allowing crowdsourced Pave riders datasets to be sold on the Streamr Marketplace with revenue shared between all contributing riders.
With full tokenomics coming to the Streamr Network in 2022, Pave riders will also have the opportunity to become yield farmers, earning revenue for their contribution to the network.
Unlike other mobility networks Pave bike owners stay in control of their data at all times and can decide precisely what data they share and with whom they share it via the Pave smartphone dApp. Pave has partnered with the Streamr Network, a leading P2P decentralised data marketplace. Users may share - just the date they choose - when they choose - and be rewarded in Streamr DATA tokens via the Ethereum network which may be easily traded for Bitcoin, Ether or other cryptocurrencies.