bloXmove x peaq: a progress report on our partnership
We are standing at the joint booth of peaq, Natix and eloop and that’s a good time to reflect on this partnership and the strategic rationale behind it.
In February of this year we entered a partnership with peaq.io, a layer-1 blockchain network focussing on the Economy of Things (EoT) and Decentralized Physical Infrastructure (DePIN).
The strategy behind this alliance is to use web3 technology to allow owners of vehicles, such as steppers, scooters or cars, to have their assets work and earn for them. Fully decentralized and acting as economically autonomous actors.
Think of a fleet owner investor, who owns a number of e-scooters or electric vehicles (the “mobility devices”) and wishes to earn money by renting them out.
Using technologies provided and available by bloXmove and peaq, all he needs to do is to equip his devices with a web3 adapter (a so-called hardware wallet).

#Demo, #DePIN and EoT — time for the acronyms!

The peaq blockchain and smart contracts provided by bloXmove then handle the rest:

• assigning the device a unique ID: a so-called “DID”=Decentralized Identifier,
• connecting the ID to a wallet: this allows the device to receive and pay funds fully automatically. No bank, no payment operator, no custodian, no service desk needed,
• managing ticketing and access control using bloXmove’s NFTicket framework
• settling and distributing funds fully automatically as part of the NFTicket functionality.

This collaboration illustrates a powerful alliance that unites the innovative capabilities of bloXmove’s Decentralized Mobility as a Service (#DeMo) and peaq’s layert-1 blockchain for Decentralized Physical Infrastructure Networks (#DePIN). The unique synergy of this partnership underscores how blockchain can revolutionize both digital and physical spaces.
We believe that the Economy of Things (#EoT) — and through it decentralized physical and networked infrastructure (#DePIN) is a logical evolutionary merging of connected devices within Industry 4.0 and the power of software-controlled contracting and financial transactions which web3 brings.
DePINs represent a progressive paradigm in the blockchain realm, synthesizing promising fields like the Internet of Things (IoT), energy, mobility, and telecommunications into a comprehensive, unified sector. This amalgamation introduces a novel frontier, offering practical applications that enhance the quality of everyday life.
bloXmove’s mobility platform with the first shared mobility dApp, currently launched in Nigeria, is a testament to what a decentralized mobility ecosystem can realize. This platform offers an efficient, decentralized ride-hailing service that bypasses the need for intermediaries; essentially the greedy Uber, Bolts etc. of the world that grab the customer relationship, the billing relationship all of the data and most of all between 20 to 30% of the revenue from those who actually do the work and provide the service.
Processes such as access control, verification, and settlement become fully automated — that is the true potential of web3.
Using NFTicket and the BLXM token as the utility token devices and vehicles become a pivotal part of the infrastructure, acting as keys to unlock real-world services like mobility. Users only need to acquire an NFTicket, top it up with local currency, a stablecoin or BLXM to access the service.
Furthermore, these scooters aren’t just rentable devices. They have become autonomous, automated actors having their own wallets on the peaq network.
They have become their own store which receives payment by users renting them. They can also automatically pay for parking or charging using the very same DePIN logic at the core of all of this.

Shadow Cash — some nifty web3 FinTech

A major barrier for adoption of web3 services is that most users don’t own any crypto tokens and prefer to pay in local “fiat” currency.
On the other hand smart contracts, which handle the business logic in a web3-world only see tokens and have no connection to standard payment rails.
And that’s where bloXmove came up with a nifty, slick piece of FinTech, we call “shadow cash”.

Many users, unfamiliar with crypto tokens or unable to access them, can still enjoy a seamless fiat currency payment in and out of the system. ShadowCash is bloXmove’s mechanism that operates in the shadows of traditional transactions, rendering the complexities of crypto conversions invisible to the everyday user. It introduces a layer that converts incoming fiat payments into “shadow” ERC20 tokens.
Multi-Token Payment (MTP) flexibility and seamless token exchange
This modular system is a step beyond conventional token swapping, introducing specific additional dimensions such as revenue split, different tokens for different parties, and integration with real-world services.


The MTP module allows users to pay using a range of tokens — fiat, shadow token, BLXM, or stable coin, while drivers can opt to receive payment in fiat, BLXM, or stable coin. The operation of the MTP system can be visualized through the following sequence flow:

1. The passenger locks his/her NFTicket with the token of choice (depicted by the red arrow in the flowchart).
2. The MTP system converts these tokens to the BLXM token and sends them to the treasury (green arrow).
3. When the driver requests payment, the MTP draws from the treasury, converting the BLXM token (green arrow) to the driver’s preferred token (blue arrow).

This process operates in real-time, pooling and exchanging all supported tokens seamlessly. This user-friendly solution allows each participant to pay and receive in their preferred token, making use of DeFi principles. Importantly, MTP can distribute swapped tokens to different parties according to predefined rules, allowing for efficient handling of payments in a system with multiple stakeholders.
#DeMo and #DePIN are transforming mobility and the Internet of Things
Imagine a world where web3-enabled devices operate as independent economic entities, where renting a scooter requires no middleman, but merely the seamless interaction between your digital wallet and the vehicle. This isn’t the future — it’s the innovative reality that bloXmove and peaq are creating today.
Our collaboration extends beyond the merger of two tech powerhouses. We’re shaping a shared vision, a blueprint for a future where the constraints of traditional transportation dissolve, replaced by a fluid, blockchain-empowered ecosystem. Our goal is to make mobility more accessible, more seamless, and more efficient, eliminating unnecessary frictions and embracing decentralization.
As we continue to forge ahead, we are eager to keep you apprised of our progress. Stay tuned for more updates about our pioneering partnership, including vivid snapshots from our events and the vibrant dialogues that ensued. We’re just at the beginning of an exhilarating journey into the future of mobility, and we can’t wait for you to join us!

Resource: https://medium.com/bloxmove/bloxmove-mobility-for-the-economy-of-things-e331290116fb