Sprint and NXM Labs to Launch Blockchain-Based Vehicle Tracking Platform

Telecommunications company Sprint and Blockchain startup NXM Labs have revealed on Wednesday that the two companies have collaborated to roll out a Blockchain platform developed to give customers an in-car 5G Wi-Fi. On top of this, the platform will also be outfitted with a vehicle tracking and scheduling as well as accident detection.

Partnered with the NXM platform, the new Blockchain initiative is equipped with a “powerful automotive router” and Sprint’s LTE network, which will allow smart devices of drivers and passengers to connect to the internet during travel. Users can also purchase cellular broadband on a daily, weekly or monthly basis without affecting their smartphone plans.

Family members can also connect with each other’s vehicles through the platform. Parents will be able to monitor the speed at which their child is driving. At the same time, they will also be immediately notified if the kid has been involved in a road mishap.

In order to safeguard consumers against potential hacking, project developers have also integrated a security system supported by the internet of things (IoT).

Excited over the collaboration, Sprint’s senior vice president of IoT Ivo Rook states:

“Through the power of blockchain technology, NXM provides an advanced level of security and advanced capabilities to vehicles that might not otherwise have it, even extending Wi-Fi … With the power of Sprint’s high-speed LTE and upcoming 5G network behind the technology, consumers will be able to experience the latest in automotive technology, even in early-model vehicles.”

Mobile provider Sprint has previously tapped Blockchain tech in order to boost its customer base and enhance customer service. The company teamed up in February of 2017 with telecom company SoftBank Corp. and blockchain startup TBCASoft in a bid to create a Blockchain-based technology intended for the telecommunications industry. Then, Sprint partnered with AT&T, T-Mobile, and Verizon in March 2018 to establish the Mobile Authentication Taskforce aimed at developing a Blockchain platform set to improve the verification process.

While the technology is new, the concept of vehicle tracking using a plug-in device and smartphone applications is no longer new. Insurance companies like Progressive have been utilizing apps and plug-in devices since 2011 to track customers’ driving habits so they can incentivize cautious driving attitudes.

Sprint and NXM Labs appear to have taken this idea and combined it with existing Wi-Fi capabilities and incorporated it on a Blockchain. Time will be the judge whether this new platform has the capability to better serve motorists.