DIMO unlocks a digital story of a vehicle’s life by creating an on-chain open vehicle ID (aka NFT) of their car.
As vehicle data is sent to the DIMO network, it is linked as vehicle lifecycle history. Not just a url to a jpeg of your vehicle, it’s your key to ownership records and selected driving data.
At any point in time, the owner of the asset can access the vehicle's data, analyze , delegate or grant access to a 3rd party for users like insurance, accident reconstruction, carsharing, pre-sale inspection, and more.
What data does a DIMO enabled Open Vehicle ID Contain?
Here's what is included in the default configuration:
Car Photo or user skin: Made with the composer in the DIMO app.
Partial VIN: While DIMO NFTs do not use a UUID or VIN as primary key, it can be partially added to the NFT at the user's discretion.
Place of Manufacture: Reported to NHTSA (or other government agencies)from the automaker
An example NFT shown on OpenSea
As an open and extensible building block, further data can be attached over time, increasing the value of the vehicle ID as a digital asset.
DIMO vehicle IDs can track the full lifecycle of a car, increasing it's value
Data value compounds over time, and a Vehicle ID makes sure the owner retains that value
What do Decentralized IDs do for DIMO?
Today, Automotive OEMs control the digital identity of a vehicle by issuing a communication certificate that they sign. The vehicle cannot transact on its own and is only allowed to interact through the OEM or with OEM itself. The DMV, dealerships, car marketplaces, and your insurance provider also separately store and manage various credentials and copies of a vehicle data, and this creates confusion and duplicated effort.
Bootstrapping DIMO Vehicle ID
DIMO uses the existing trust models of the automotive industry provide unique tools to validate (1) a car exists and has certain properties, (2) the user has ownership of that car, and (3) it has actually been driven (Proof of Movement).
VINs provide some Sybil resistance for Vehicle IDs
Each device in the DIMO network must have its own ID which conforms to a W3C standard. Such identity exists without any central authority and is securely and privately linked to other identities (e.g., an owner and authorized drivers). This allows the device to manage its own data and, in the future, transact with other devices.
The cost of minting the device on-chain as an NFT provides some protection from sybil attacks, and DIMO apps are required to provide a proof that they've received telematics or verified documentation from the vehicle owner prior to minting, and the same vehicle cannot be minted with an "Active" status twice.
Each device ID will reference where the encrypted and signed data is stored. This will provide a future-proof way to address the device as well as integrate with other distributed systems.
Future Data Types & Uses
While you can't transfer the NFT today, our goal is to allow you to sell your vehicle data history with any normal vehicle transaction. DIMO's core team is working on escrow and transfer contracts to make this easy and privacy preserving.