The New Economy of Movement
The convergence of multiple rapidly maturing technologies, such as AI, IoT, and blockchain, permits any connected entity — whether a person, vehicle, device, package, piece of infrastructure, or data set — to communicate and autonomously participate as an independent economic agent in transactions. These usage-based economy-of-things transactions will:
- Create new opportunities to monetize traditionally illiquid assets such as infrastructure, empty seats in vehicles, roads, and connected data
- Enable a less centralized transportation ecosystem
- Generate new usage-based decentralized mobility applications such as seamless multimodal travel, urban road tolling, congestion pricing, usage-based insurance, incentives for green and sustainable behavior, supply chain track and trace, and numerous other use cases that we have yet to imagine
These transactions — comprising the exchange of value, goods, and data between entities in the economy of things — will produce a multi-trillion-dollar pay-per-use ecosystem we’ve termed The New Economy of Movement (NEM).
Building Blocks of the NEM — Defining Decentralized Identity Solutions
Decentralized Identity and/or Self Sovereign Identity (SSI) is a new cryptographic technology that enables entities to assert ownership of their identity, where the identity remains private and not disclosed during transactions in decentralized ecosystems.
Decentralized Identifiers (DIDs) are identifiable endpoints belonging to a SSI, and can be shared with the world. Examples include documents, wallets, smart contracts, and programmable agents.
In a decentralized system, DIDs are embedded in Verifiable Credentials (VCs). VCs may be created by trusted entities, such as government agencies, businesses, universities, or employers, and issued to a “holder” of the VC. If we think of the DID as a global ID, then VCs are like digital passports, or unique stamps which serve to attest to specific information about an entity associated with a specific DID. MOBI Verifiable Credential is based on W3C’s DID and VC Specifications.
A Digital Twin is a digital representation of a real-world entity or system. The implementation of a digital twin is an encapsulated software object or model that mirrors a unique physical object, process, organization, person, or other abstraction. SSI and DIDs are needed for digital twins to be trusted in decentralized ecosystems.
MOBI Web3 Technology Stack
In the New Economy of Movement, Web3 federated networks and decentralized platforms are needed to manage DIDs and VCs to enable trusted data sharing and business automation between connected entities. MOBI’s Web3 infrastructure consists of three member-owned and operated layers — collectively the MOBI Technology Stack (MTS) — needed to verify these transactions. Each layer with a different architecture and function, together forming a holistic approach to Web3 applications for decentralized connected ecosystems.
The foundational layer is the MOBI consortium, which creates standards to identify connected entities and shared business processes.
The middle layer is mobiNET, a layer-two, protocol-agnostic digital infrastructure to provide trusted identity services.
The top layer is Citopia, a trustless decentralized platform to onboard DIDs and enable VC issuance for business automation; monetizing assets such as infrastructure, services, and data.
MOBI Consortium — the foundational layer — is a global nonprofit smart mobility consortium consisting of public and private stakeholders from around the world. MOBI and its members are creating blockchain-based standards to identify vehicles, people, businesses, and MOBI Trusted Trip, with the goal of making transportation more efficient, equitable, decentralized, and sustainable. MOBI officially launched in May 2018 and released its first standard, Vehicle Identity (MOBI VID), which leverages internationally accepted vehicle identification number (VIN) to define a vehicle’s digital twin, the following year. Since its launch, MOBI has formed seven working groups, released 13 standards, and launched the DRIVES (Distributed Registry for Intelligent Vehicle Ecosystem and Sustainability) Program in early 2021 to ideate and demonstrate MOBI Standards to extend multi-party value chains in a decentralized ecosystem.
mobiNET — a layer-two, protocol-agnostic digital infrastructure for IoT commerce — provides trusted identity services for connected entities in the mobility ecosystem. The goal is to unlock monetization opportunities across countless mobility services by allowing application interoperability and multi-party data sharing, enabling participants to execute trusted decentralized transactions at the edge.
At its core, mobiNET is about joint value creation. Together with other consortia, mobiNET will evolve into the Integrated Trust Network, or ITN. Adjacent ecosystem collaboration is about economy of scale, providing value, trust, efficiency, and new business models for all participating consortia trust domains.
Citopia — the decentralized platform for business automation and connected mobility commerce — is at the top of the MTS. Citopia is a decentralized platform and tokenized ecosystem for business automation where mobility stakeholders can securely meet, message, and transact. Citopia facilitates the onboarding of DIDs and issuance of VCs for automating decentralized transactions to create the seamless, secure, and private mobility experience that users demand.
Citopia enables countless track and trace use cases in the supply chain and unlocks marginal cost pricing for numerous mobility-as-a-service transactions, including urban road tolling, meter-free parking, congestion management, usage-based insurance, and many more.
Unlike other map-based mobility apps, the Citopia platform does not store user data. However, users can choose to share their data for rewards and incentives. In this way, it not only protects data privacy — it gives users control over their own information and how that information is used.
So, How Will the MTS Work in the Real World?
Say, for example, that someone wants to rent a car from a rental company, RentalCo. First, that person can download the Citopia platform onto their smartphone and onboard their DIDs by scanning verifiable documents such as their identity card or digital wallet.
Through Citopia, the user can then present their DID to the Government Registration Authority (GRA) to obtain a VC, a digital credential, attesting to the fact that they are the owner of a valid driver’s license.
The VC is embedded with the user’s DID, along with the cryptographic signature of the GRA. When the user presents the VC to RentalCo, RentalCo checks the VC against the GRA’s trusted ledger using Citopia platform and mobiNET trusted identity services to verify that the GRA in fact issued the VC and that it has not been modified or revoked. Once RentalCo verifies the VC in a decentralized ecosystem without relying on third party authenticators, the user can move forward with the rental process.
DIDs and VCs provide a foundation of trust between the user as a holder; the GRA as an issuer; and RentalCo as a verifier, with Citopia as the shared platform and mobiNET as the necessary decentralized trust anchor to maintain the relationships between cryptographic keys, DIDs, and the status of VCs. Since the entire exchange is recorded, all three parties enter into a tamper-evident, timestamped transaction in which they mutually establish and verify a shared set of truths.
Building the New Economy of Movement Together
Together, Citopia and mobiNET form the foundation of the New Economy of Movement, enabling many decentralized business-to-business (B2B), business-to-consumer (B2C), and peer-to-peer (P2P) use cases and serving as the shared Web3 infrastructure that brings all entities in the connected ecosystem together on one technology stack.
Building a truly sustainable, democratized, and decentralized New Economy of Movement requires collaboration between public and private stakeholders across the globe. A new age of digital transformation beckons; it’s crucial that we move forward with a shared understanding of the resources at our disposal and work together to maximize our efforts and abilities. Fill out this form to learn how you can get involved in building the Web3 Technology Stack for the New Economy of Movement.