Polygon and Puse Launch EV Tokenization in Dubai
Polygon and Puse launch EV tokenization program in Dubai, aiming to revolutionize how electric vehicles interact with blockchain networks. The initiative focuses on tokenizing a fleet of electric motorcycles, allowing real-time data collection and recording on Polygon’s Layer 2 blockchain.
Real-Time Data Collection Through DePIN Devices
The electric motorcycles are equipped with Puse’s patented DePIN (Decentralized Physical Infrastructure Networks) devices. These units gather valuable data on environmental and infrastructure conditions, including air quality, noise levels, and road surface quality, feeding it directly into the blockchain.
Monetization of Data Through Token Rewards
Collected data can be monetized through token-based reward systems managed by various partner protocols. This model encourages the sustainable monetization of real-world assets (RWA) while promoting decentralized data collection and reward distribution.
Focus on RWA Integration and Urban Solutions
Aishwarya Gupta from Polygon emphasized that the project prioritizes RWA tokenization, aiming to integrate any real-world assets into blockchain ecosystems. Co-founder of Puse, Harshit Garg, described the project as combining asset-based income with decentralized data monetization, rewarding only for valuable contributions.
Plans for Expansion Beyond Dubai
Following the Dubai pilot, Polygon and Puse plan to expand their EV tokenization project to India. Interested parties already include logistics companies, spare parts manufacturers, and insurance firms seeking to tap into decentralized data markets.
