The transport Transition Token accelerates EV adoption and incentivises greater vehicle utilization simultaneously. It is a mobility solution leveraging IOT technology, blockchain and a crypto token.
Uber could be considered remarkable not because of its recently pegged $180 Billion IPO or rapid growth, but because it demonstrates that a mobility app could become ubiquitous globally. This demonstrates the potential for a global decentralized app harnessing a token designed to achieve a rapid transformation of the mobility sector.
We (by “we” I mean a private sector consortium, intergovernmental body, a UN, or a consortium of NGOs) should transplant Uber right now with something better - something that incentivizes the transition from fossil fuel vehicles to electric vehicles (EVs), and that is organically owned by its participants.
Government’s part would be a globally accepted and adopted policy that all vehicles must be IOT (internet of things) enabled. This would open the door to rapid decarbonization of the mobility sector. Every car would have an identifier, which, in turn, could make an Oracle aware of its carbon footprint. With this, we would know the value of getting any given vehicle off the road and replaced by an EV or other low emission alternatives. The Oracle can then determine how many tokens the car owner should receive.
Our new globally owned Uber 2.0 could deposit "UBE2 tokens" into the new apps of all our Uber 2.0 drivers. The amount deposited would be determined by an Oracle and depend on the impact of their decision to transition to a vehicle with a lower carbon footprint such as an EV, and take into consideration local economic realities (cost of cars, cost of living etc). Here’s the rub: the drivers can only release the value of these UBE2’s in measure with their utilization of their mobility asset as a shared resource. In this way, the value of our Uber 2.0 token - let’s call it “UBE2” - is linked to the value of the underlying asset because its utility is access to the mobility that the assets enable.
Ride hailers are the passengers. Their choices would be constrained by how many UBE2 they hold. They would need to purchase UBE2 from an exchange. This creates demand within the tokenomic design. Web3 apps (called decentralized apps or "dApps") allow access to an app’s utility dependent on how many of a certain type of crypto asset is held in their dApp wallet. Zero emission cars could require no UBE2 to hail, and the worst emitters would require the most UBE2 to permit hailing. One positive externality coming from onchain ID is that safety would increase in a system where the identity of each passenger is immutably known.
The tokenomic model is a financial modelling challenge. We have to define the best supply and demand equation. There is another factor; let us call it “X”. X is the variable that accounts for differences between municipalities in Delhi and Texas, for example. These differences include the cost of the mobility asset base, the cost of acquiring an EV, the cost of petrol, living and many other factors for economists to ascertain.
This "X" factor would beneficially shift the narrative at global gatherings such as COPs (global climate change conferences called “Conference of Parties”). Political leaders responsible for national mobility would be negotiating on X rather than jostling for position about climate aid (which will possibly never come).
What if the world’s car manufacturers collaborated to create the new Uber 2.0 app and issue the UBE2 token? They could easily conduct an initial offering of the UBE2 token to raise money for the project due to their position of trust with consumers. But what if car companies did not want to play ball? After all, some of their executives might argue that the parts replacement benefits of fossil fuel vehicles compared to EVs, plus encouraging everyone to own their own car are simply better for their bottom line.
If the public or private sectors do not want to go this route, the other option is a UN institution or a massive consortium of NGOs. Inherently less nimble than the private sector, they could nonetheless bypass it altogether and unleash the new dApp and instrument. MOBI is a similar open blockchain initiative to Energy Web Foundation (EWF) in the renewables space. It will support blockchain foundations for IOT and, importantly, an UBE2 type token.
The terms of global cooperation and the necessary action are no longer ambiguous. The above mechanism and technology would be adopted and initiated resulting in the target transition goals.