BLXM: overview of utility
This is the first of a series of articles describing the specific utility of the BLXM token.
BLXM is the token to utilise the bloXmove protocol for Decentralised Mobility (#DeMo).
bloXmove provides a shared, common infrastructure by which mobility services can be offered, consumed, orchestrated, bundled and settled.
We do this by managing all aspects of the commercial transaction by way of cryptographic protocols.
The market for urban mobility-as-a-service (#MaaS) is fractured today. There are critical gaps that need to be filled to create a cohesive ecosystem where the provider gets the best possible outcome and the user gets the ultimate no-hassle, value for money mobility experience.
Mobility providers who provide their vehicles or services to aggregators lose a big share of their profit. Because they control access to the market through the customer relations, aggregators take out a disproportionate percentage of revenue. Even after that, you must wait for a certain period to get what you earned. This creates a less than efficient market that hinders the rapid growth of most providers.
The protocol in user stories
- As a mobility provider I want to rent out my vehicles and be paid in real-time.
- As a mobility provider I sell my services in the form of access credentials, such that an access key provides the right to use a specified vehicle at a specified time for a specified service rate.
- Access control must ensure that the user presenting the token is indeed the same user the access token is made out to; and that it is valid for the vehicle it is presented for.
- The access protocol must ensure security and be able to verify that all required credentials are verified.
- As a mobility provider I want to receive my payment the moment the service has been delivered.
- As a user I only want to pay for what I consume.
BLXM tokens facilitate this automated transaction in the following steps:
- The mobility provider offers a fleet of scooters for rent. Each scooter is given a unique identifier (#DID) whose usage is only unlocked by a special access control code.
- User X is also identified by a DID (decentralised identifier) to gain access to the bloXmove ecosystem. One DID login unlocks the entire services available on the network allowing Provider A to rent out the scooter that User X needs.
- User X connects to the protocol by way of a wallet app where they are verified and with a payment of an agreed number of BLXM tokens, Provider A grants access control for Scooter 1 in their fleet to User X.
- Access to user Scooter 1 is granted ONLY to User X, for a certain period of time. User X can’t access Scooter 5 on the fleet for example, and they can’t go over the time agreed to return the hired scooter.
The win-win scenario here is that Provider A gets paid what they deserve with the help of a decentralized network and in real-time. No waiting periods; no holds. The user, on the other hand, gets access to every mobility option they need on a single ticket, and they pay for exactly what they use. No hidden charges, no disproportionate commissions, all thanks to the BLXM token protocol.
The protocol’s capabilities
The bloXmove BLXM protocol and its token provide the following core capabilities
- Access Control
- Verification of identity, data, and credentials
- Value transfer and settlement
- Utility: BLXM is the sole utility token for services delivered of the platform as well as transaction fees paid in blockchain-native, i.e. crypto environments
- Payment: Customers of mobility providers can use BLXM to pay for services offered within the ecosystem.
- B2B Settlement: Mobility providers who have earned BLXM can use them to settle liabilities denominated in IVU and FIAT.
- Staking: Validators (sometimes referred to as miners) use it to secure the protocol using a PoS-type consensus mechanism to earn BLXM tokens.
- Community engagement: The BLXM Token Foundry will encourage the BLXM community to stake BLXM to support green energy and decentralised mobility initiatives. For this purpose, it will work with selected asset tokenisation platforms to stake BLXM to fund e.g., charging stations. Stake holders thus provide tangible benefits to the community while participating in revenue streams generated by the supported assets.
- Governance: Voting on all matters related to the BLXM foundation requires voters to stake either BLXM or liquidity to participate in the governance of the platform. A semi-autonomous voting and governance system then acts on proposals and votes.
Summary and Outlook
In this primer we have provided the frame within which we have designed the BLXM protocol.
We serve two different market environments:
- Native crypto: the protocol economy, where all business is conducted in cryptocurrencies such as BLXM.
- Hybrid environment with regulated B2B customers managing their funds in FIAT currencies and accounting ERPs.
The main utility of BLXM is that it serves as the means of payment for decentralised mobility services and the transaction fees on the bloXmove network.
In the next instalments of this series we will explain how we are providing additional value to holders of BLXM by
- first actively burning 10%-40% and after minimum supply has been reached
- then sharing 10%-40% with the BLXM community.