Digital currency aims to reduce traffic accidents
In an effort to reduce traffic accidents caused by distracted driving by getting at the root issue of people’s attachments with their phones, Dolphin Technologies created Mobilio, a cryptocurrency app that rewards drivers for not using their mobile phone while driving.
Traditional approaches such as traffic penalties have proven ineffective due to the deep-rooted psychological nature of the problem, according to the company. "The satisfaction of our curiosity by reaching for the phone is directly connected with the reward system of our brain," explained neurologist and Chairman of the Berlin Medical Association Examination Commission for Neurologists, Dr. Afshin Jawari.
"This is exactly why we are relying on reward instead of punishment," said Harald Trautsch, CEO of Dolphin Technologies. With the Mobilio app, which is available for Android devices and iPhones, users receive points for not using a mobile phone while driving. Those points convert to Mobilio tokens so, in effect, anyone can "mint" the currency simply by distraction-free driving. "This democratization of the distribution of Mobilio tokens has important implications for its future use and value," added Trautsch.
The method for minting Mobilio tokens aims to ensure that they generate real value to society, which is road safety. Meanwhile, the digital currency is designed in a way that the more people use the app, the greater its value. "The vision that the Mobilio token could one day have a similar performance to Bitcoin and Co creates a strong incentive to drive safely," said Trautsch.
Mobilio tokens can be used in the Mobilio Marketplace, which Dolphin Technologies is currently establishing with industry partners. The currency can be used to pay for the products and services of insurance companies, retailers, and other marketplace participants. In addition, the token will be traded on crypto exchanges within the next few months in order to give it a tangible value in the real world.