ICO Review: AMO – A Blockchain Where Car Data Can Be Shared And Exchanged

The new generation of cars is producing and processing unforeseen amounts of data. The advancement of the automobile industry has brought with it developments like the connected car, the electric vehicle, the autonomous car and smart cars. Cars are now becoming moving hubs of information that can reflect the lifecycle of the car and could be used to improve the state of car manufacturing, car rental, car sharing, insurance, and vacation industries.

However, no commonly agreed-upon standard or system currently exists for the systematic collection, storage, and use of this data. On occasion, car data may be utilized by independent service providers, but oftentimes they overlook the potential of generating further value from the car data and fail to make full use of it and with the rapid development of the new generation cars combined with the advantages of blockchain technology, there is an opportunity for a decentralized, open marketplace for transactions in the automobile industry.

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AMO will create and operate the AMO Market through the AMO Blockchain and AMO Platform, where car data can be shared and exchanged. This will be an environment where car data and information are no longer used and held by a few select companies but are used and shared through legitimate and secure processes and transactions. As a result, car data will become a public asset and return more valuable and optimized services enjoyed by those involved.

AMO is based in Singapore and is carrying out an ICO to finance its business model.

AMO Market, source: amo.foundation

Main features

  • The project will create a secure and reliable environment for sharing car data that can be used for maintenance services, accident analysis services, accurate insurance rate calculation services, car charging and parking services, music and video streaming services, local dynamic map services and secure monitoring personal information
  • A range of hardware and software data collectors will be developed to solve the problem of non-standardized data collection systems
  • The AMO Platform will use the AMO Blockchain to provide AMO Market operations
  • When AMO Blockchain is ready, the AMO tokens will later be converted to AMO coins (check here the differences between a token and a coin)
  • Car data which users have agreed to share will be stored on the AMO Blockchain, along with other relevant information about the transaction, data ownership rights and data usage rights. These sensitive data will be encrypted, de-identified and fragmented in order to preserve maximum security and privacy
  • The reward system will be based on producing data, participating as node and block generation

Novelties

The car data will become a commodity, and data producers and consumers contribute to determining the value of car data and transactions will be compensated with AMO coins.

AMO market and coin economy, source: amo.foundation
AMO market and coin economy, source: amo.foundation

Token information

  • Token name = AMO
  • Acronym = AMO
  • Platform = Ethereum
  • Type = ERC20
  • Max. number of tokens = 20,000,000,000
  • Cryptocurrencies accepted = ETH

Token distribution

  • Token Sale = 8,000,000,000 – 40%
  • R&D and ecosystem management = 4,800,000,000 – 24%
  • Team and advisors = 3,200,000,000 – 16%
  • Marketing and promotion = 2,000,000,000 – 10%
  • Reserve = 2,000,000,000 – 10%
AMO token distribution, source: amo.foundation

Funds usage

  • Development = 40%
  • Strategy partners = 20%
  • Business development = 10%
  • Operation = 10%
  • Marketing = 10%
  • Reserved = 10%
AMO funds usage, source: amo.foundation

Pre-ICO details

  • Starts = June 9th, 2018
  • Ends = June 16th, 2018
  • Token price = 0.000005 ETH/AMO
  • Bonus = 20%
  • Min. buy = 5 ETH

ICO details

  • Starts = June 30th, 2018
  • Ends = July 7th, 2018
  • Token price = 0.000005 ETH/AMO
  • Min. buy = 0.1 ETH

NOTE: unsold tokens will be burned.

The leading team

Competitors

Social media presence

Additional information

Conclusions

AMO Market aims to create an environment where car data and information are no longer used and held by a few select companies, instead it will be used and shared through legitimate and secure processes and transactions through AMO blockchain. As a result, car data will become a public asset and return more valuable and optimized services enjoyed by those involved.

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