Crypto Mining with Electric VEHICLES?! (Soarchain DePIN)

This tiny device here allows you to drive and earn. When I first heard that I thought, wow, really? Does that even work? Like, can people pay me to just drive and just like get a bit money back from just driving? Yes, they can. Because every time you drive, there's useful information about how you use brakes, how fast you're going. This diagnostic information from this car can actually be directly uploaded by this device into the blockchain. And this is very valuable for third-party companies. And if we provide that data, then of course, we can get a little bit from it. So this is the latest thought philosophy behind Soarchain. So Soarchain, they are building a smart car connected ecosystem where every vehicle is a node contributing to a vast real-time data ecosystem. In this video, we're going to look at what exactly is Soarchain and how everything in this works. Then we're going to take a deep dive into the device itself, how that works, and how the mining of this works over time. And then finally, we're going to take a deep dive into the pros and cons of the projects. What are the risks and the rewards as well? Obviously, of course, we do like this project, which is why we're talking about it. And we have also invested into Soarchain. That does mean we can be biased towards this project. And of course, this is our personal opinion, not financial advice. So without further ado, let's get started. So let's take a very quick look at what is Soarchain. So I think it was a mistake because when we first looked at this project, we thought, oh, it's like, I thought it was just GPS data, which I was like, oh, Google already has that, right? Google already has where we are at all times because we use Google Maps or someone else nearby is using Google Maps. But it's not just that. There's a lot of data on your car, the diagnostic data, like essentially the car records everything that you do, what actions you press, how fast you drive, how hot things are in a car. And that data is essentially given to the car manufacturer, but the car manufacturer can do whatever they want with it. And in the end, if they sell it, you don't get any money. Yeah. Right. Which is what Soarchain is doing. Soarchain is basically accessing the device that they have directly accesses the kind of the, it's a diagnostic port on your car. And I think quite a lot of cars, we'll actually talk about which cars they're on. But it's in quite a few cars. And they give you back that data. And once that data is uploaded on chain, it gives you a lot of information and Intel about how we drive. Exactly. And down the line with Soarchain technology, Soarchain is going to be able to build all sorts of application on top of your car. So we can look at roadside assistance, smarter insurance to incentivize good driving behavior, logistics transport, even energy usage analysis. So I think it's good or bad, I guess. In a way, insurance company will know what you're doing with your car. But it also gives you the ability to pay as you go. So basically right now, let's say for example, if I don't drive on weekdays, I only drive on weekends, why should I pay for the weekdays driving? Right? So if I have this on all times, and they can monitor me, then I can probably pay as you go for my insurance. So actually reduces insurance. That's true, right? Because the insurance will still charge you anyway, if you're not driving. Exactly. So there's actually a lot of savings that could be done. And also a lot of safety considerations. Like, oh, if people know that there's an area where cars break down all the time, yeah, go fix the freaking road, right? There must be something wrong with the road. So there's a lot of data that right now is not being used. And because these car manufacturers, they have the data, but they don't share the data. So the key here is to have a decentralized repository of the data. And then of course, then because it encompasses everything, and Swordchain already has quite a few partnerships with big manufacturers. And yet again, we'll look at the list of cars that can do this. But the device basically can plug into all modern cars, and especially electric vehicles, they basically plug that in, and you can just share that onto Swordchain itself. In terms of the tech behind Swordchain, they're built on Solana. So there's, it was actually quite interesting. We actually looked at the tech here, and they basically built that on Solana with a lot of support for Cosmos ecosystem. I think they initially wanted to go for Cosmos, and then they moved to Solana itself. But at the end of the day, I don't think the chain itself really matters. It's more about the application itself. So for me, what's interesting here is just the connectivity of the device. Get the device, does it work? And then can they generate revenue from this? And then can they share that revenue with us? TLDR, that's the most important thing, right? Yeah. And I also want to add on to that point. I think the, because this is a decentralized project, the governance token could play a very big role. Like what you said earlier, there's, there's a certain area that has a lot of traffic or whatever, there's problems there, go fix it. So people can vote to resolve these kind of issues, right? Power to the people. That's actually true. So like, if the government's like, yeah, we don't fix the road, it's not, it's not, it's, it's okay. And then you go, you know, you look at the on-chain data, you're like, boom, look, like 50 vehicles broke down in the last month here, like, guys, fix this. So I think that's a good way to pressure people too. So yeah, they can decentralize rather than centralize actually does actually work here. And just to talk about D-PIN as well, actually D-PIN is really, really hot right now because it allows people to build out infrastructure. So decentralized D-PIN is basically defense centralized infrastructure. This is one of the really cool decentralized products with already a hardware. So next up, let's take a very quick look at the pros and cons of this. So recent research has shown that the market of car connected ecosystem living is going to grow by over $1.4 trillion by 2035. So Mercedes, BMW, Volkswagen, Hyundai, all the top manufacturers looking at this ecosystem and connected cars. And this play can be a very strong push into growing that ecosystem, but also collaborating with everyone. This could be actually the product that combines all these companies together because let's face it for these companies to work together, it's going to be impossible. It's definitely. But a decentralized way of working together is it's actually the solution for this where companies, large companies, they're willing to share data so long as they benefit equally or so long as there's fairness. Yeah. So I feel like that's kind of where the potential for this is going. One of the other advantages I see is that it's so easy to just mine and just plug it in. Obviously there is an up five cost, but it's, you know, it's not the end of the world. It's 80 something dollars. But of course, there are some cons with plugging this onto your device. And one of the things that you raised up was just like security, right? I mean, you don't want people to spy on where you drive. Exactly. Yeah. Kinda. So obviously people are concerned of that. And then one thing that we did think about is that technically speaking, where you drive is very transparent because you own a smartphone. Yeah. Even without a car, you're still being spied on. You're being spied on. So it doesn't really add too much to it. So that was one of our concerns. So guys, in conclusion, Michael, drive turn. What do you think? I think it's actually really cool. This brings me back to the old mining days. Like no one really cared about mining on CPUs when people first heard about that. And people said, Hey, look, Michael, you're, you're mining Bitcoin. It's like $3 a day. You better, you're better off picking up cans on the street. And I was like, this coin, this, this might work. Right. And I was making like 0.3 Bitcoin a day. Yeah. It sounds stupid today. Right. Yeah. Drive to earn could be something interesting because first and foremost, it's not as diluted as other mining projects are because you can't just like plug multiple of these things into, you know, as the same car. Right. Every car is unique and every driver is unique. So that data is valuable. And I think that dilution is not going to be that great. So I feel like it is quite a unique concept. And I don't think in terms of mining, it's not going to face that like tech war that we see. So now the biggest question is, will this concept take off? Right. So I think already the mining can already be demonstrated to work and it'll probably be slow and it'll probably take a while even to just get the money back for the original device. I think like we saw that the air drops after the snapshot is already taken. Right. So past the air drop, can you still earn and make money? I do think it's possible because I feel like the data is valuable. So initially they're going to bootstrap this with the coin and their ecosystem and growth fund, et cetera. But eventually what I'm really looking for is for them to be able to sell and move that data. And once they sell that data and bring actual revenue, then that's actually going to be shared with users and they could actually grow value into this ecosystem. I agree. I also resonate with the fact that you used the Bitcoin analogy, right? At that time, it's not a good revenue model. Like why would I mine? Why would I use up a lot of electricity to mine for a couple of dollars worth of Bitcoin? Yeah. Then a couple of years later, that couple of dollars becomes a couple of thousands. Yes. So drive to earn as of now, maybe now it doesn't make sense because it doesn't click right now. Yeah. I feel like that's when my initial barrier was, I didn't, it didn't click for me because I was like, oh, GPS data, it's everywhere. But diagnostic data, repair data, that's actually very valuable. And when you want to sell your car. So I think that's when you think about it, it makes sense. When you don't think about it, if you're not in the industry, it doesn't make sense. Yeah. I think more awareness should be raised for these types of projects because this could definitely capture a lot of value if, you know, non-web three people know about this. And just like with every other ecosystem. I mean, after all, 1.4 trillion dollars is not a small amount. So guys, what do you think about drive to earn? I think that's, it's something that if you told me about it before I looked into it, it would sound crazy. But once you look into it, makes sense. But I want to hear what you guys think as well, because like, yeah, it's a little bit out there. Guys, thank you guys so much for watching this video. I will look to look more into deep in projects with you guys in the future. See you next video. Shana now.