Green Light for DOVU as Mobility Blockchain Project Hits $5 Million Milestone

Blockchain mobility project DOVU is off to a flying start, raising over $5 million in Ether to date. The initiative aims to crowdsource high-quality transport data from large numbers of grassroots users, storing this on the blockchain and making it available to developers and companies in return for the DOV token. Access to these valuable datasets will drive innovation in the transport industry.

 DOVU’s pre-sale was extremely successful, attracting a significant number of larger investors. This has placed the project in a strong position to go forwards: pre-sale contributions have already met the project’s funding requirements for several years. The main crowd sale launched on Tuesday and any additional funding will permit an accelerated development timeline, along with an increased marketing spend.

Unfortunately, the beginning of the public crowd sale saw an attack on DOVU’s website. Many crowd sales are affected by high levels of traffic at their launch, as a lot of people try to access the site at the same time, and DOVU was well prepared for this. However, what occurred was a sustained and malicious DDoS attack that meant many users were unable to deposit funds for a period of several hours. Some of these contributors were unable to take advantage of the 10% bonus token period and DOVU took the step of extending the bonus phase for a further 12 hours. You can read more about the issues faced here.

Rewards for early investors

DOVU will now be rewarding all investors who participate before Sunday with an additional token drop, to compensate for the early problems. More details will be published in due course. The token sale will remain open until 17 October 1700 UTC, with the 3% token bonus tier available until 8 October at 0500 UTC.

Additionally, DOVU will be exhibiting at the World Automotive Conference on 11-12 October in Istanbul, where the team will present its ideas to industry experts in the context of the latest transport trends and technologies.

Read this blog post for more information on how to participate the DOVU token sale, or to find out more about the initiative visit www.Dovu.io.

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DOVU, the blockchain marketplace for transport data, is announcing the addition of a new and highly experienced advisor to their team. David Drake, Chairman at LDJ Capital, will provide counsel on critical issues including investor relations and international business development.

‘Unprecedented insight’

David Drake is a well-known entrepreneur, investor, and speaker. Through his family office, LDJ Capital, and his partners, David’s investments currently have over fifty global directors that maintain relations with institutions and family offices with $1.5 trillion in assets. He has represented the US Commerce Department at the Transatlantic Forum with the EU Commission in Brussels and Rome, as well as in the UK Parliament as a speaker.

David’s seminal work in the Crowdfunding Industry has led to an invitation to the White House Champions of Change ceremony. He and his financial media company, The Soho Loft Media Group, set up the first ever crowdfunding meeting with SEC and FINRA in April 2012, shortly after then President Barack Obama signed the JOBS (Jumpstart Our Business Startups) Act into law. Alongside other pioneers, he created the CfPA or Crowdfunding Professional Association, which later gave birth to the CFIRA or Crowdfunding Intermediary Regulatory Advocates. These two national associations have dealt with SEC and FINRA on a weekly basis for the past five years.

“David brings a wealth of expertise to his role as DOVU’s latest advisor. With regulation around token sales constantly evolving, we welcome his experience and relationships with regulatory bodies, and very much look forward to working with him. His unique understanding and unprecedented insight of the regulatory framework will prove indispensable in placing the project on a sound, compliant footing.”

– Irfon Watkins, DOVU Founder and CEO

This background gives David a unique perspective on the strengths and challenges of the regulatory framework surrounding the crowdfunding industry, which now constitutes the backbone of the blockchain industry’s token offerings. David’s experience of the regulatory landscape and relationship with key regulatory bodies means he is ideally placed to work towards embracing compliance. He currently sits on the advisory board of more than 15 blockchain-based firms.

About DOVU

DOVU’s vision is to equip developers and innovators within the mobility industry by providing them with large and high-quality data sets. It aims to achieve this by creating an open, transparent market for transport data, sourced from a wide range of grassroots users and made available on the blockchain for service providers. Individuals can submit whatever data they want to the network, in return for the Ethereum-based DOV token, which is also the currency of payment for businesses to gain real-time access to these transport-specific resources.

“DOVU has the foresight to tokenize big data for the auto industry. Jaguar Land Rover recognises this and through its investment arm provided seed funding to DOVU early this year. Their first-mover advantage and vertical integration with car digitization leverage blockchain. DOVU creates the marketplace for current and future data in the auto service industry. The future of big data is now being captured by the blockchain leadership vision of DOVU. This clearly gives Jaguar Land Rover that seeded this play a leadership advantage in the auto data industry to set standards.”

– David Drake, Managing Partner at LDJ Capital

DOVU is offering DOV tokens to participants in its crowdsale over the coming weeks. The DOV token pre-sale is live now, and the public sale starts on 3 October. For more information about DOVU, or to participate in the crowdsale, visit www.dovu.io/presale.

DOVU, the blockchain transport data initiative, will showcase its software at the forthcoming Jaguar Land Rover Developer Challenge, to be held in Slovakia at the end of the month.

The hackathon will take place around the theme of ‘smart mobility’, and will feature two specific challenges for developers: a mobile app that will incentivise car sharing, with the aim of decreasing overall vehicle emissions; and a seamless solution for multi-modal transport planning, uniting train and bus timetables, city bike schemes and other useful information within a single interface. Prizes totaling EUR 6,000 are available.

DOVU: Blockchain Data Market

DOVU, which is backed by Jaguar Land Rover’s innovation arm InMotion Ventures, is a natural partner for this event. The project aims to equip the mobility industry with large, high-quality datasets that are crowdsourced from across the transport ecosystem, from individual travelers to large corporations and third-party services. This extensive and granular data will then be made available to developers and transport companies via a blockchain-based marketplace, rewarding those who provide it with the Ethereum-based DOV token.

DOVU will be involved in the hackathon in a number of ways. The company will be making its current platform available on an as-is basis – giving developers the opportunity to test its functionality before it has been formally released. This will include access to the Lyft (ridesharing), Citymapper (public transport networks) and Dark Sky (weather data) APIs, allowing developers to plug straight into a broad range of transport-related data feeds. What3words, a geo-coding system that is used to communicate location anywhere in the world down to the resolution of a 3x3m square, can easily be integrated with these APIs. DOVU will provide remote technical support for participants over the course of the two-day hackathon.

In due course, DOVU’s own open APIs will be made available to developers, vastly simplifying data acquisition and enabling data-led insights and innovation.

Crowdsale

DOVU is currently holding a crowdsale for its DOV tokens, which act as the ‘fuel’ for its transport data network and marketplace, the crowdsale launches 3 October.

For more information about the Jaguar Land Rover hackathon, visit www.jlrdevchallenge.com. For more information about DOVU, or to participate in the crowdsale, visit www.Dovu.io.

DOVU, the blockchain-powered market for transport data, has taken steps to ensure its token sale will be conducted to the highest standards – including crime risk management measures – collaborating with global accountancy firm KPMG on its company and financial structure.

Monday’s announcement that Chinese authorities are banning fundraising through blockchain crowd sales for Chinese operators for so-called Initial Coin Offerings (ICOs) sent shockwaves through the crypto markets. Since the beginning of 2017, well over $1 billion, mainly in bitcoin and ether, has flowed into such token sales. Blockchain has established itself as a powerful tool for crowdfunding new tech platforms, but still the growing token sale industry also has brought with it the risk of scams, hacks, pump-and-dump schemes, and a general lack of corporate governance and accountability.

DOVU: raising standards

Now DOVU, which is backed by Jaguar Land Rover’s innovation arm InMotion Ventures, is establishing a new benchmark. DOVU aims to provide the mobility industry with large and high-quality data sets, sourced from a wide range of stakeholders including grassroots users. Businesses will pay for access to this data using Ethereum-based DOV tokens, which are offered through a crowdsale on 3 October.

The DOVU team has spent the last 12 months ensuring that they are structured correctly for a properly managed token integration, working with blockchain legal experts Ramparts to create a distinct corporate entity.

“We are pleased to welcome KPMG, one of the top 4 global accountancy firms, as our advisors, working with us on our company and financial structure.”

– Irfon Watkins, Founder and CEO of DOVU

DOVU’s most recent adviser is Andrew Hodgson, Senior Partner at KPMG Corporate Finance. Hodgson joins a highly professional team of the transport industry and blockchain experts. The project’s token sale includes wallet risk profiling and high-value customer due diligence processes (using a risk-based approach) to better deal with the risk of crime. With the industry under scrutiny, many will find DOVU’s token sale precautions reassuring.

Chinese ban

The news that China’s regulators will prevent Chinese entrepreneurs from raising funds via token sales is likely to bring further focus on this sector in other jurisdictions. Whilst there is some speculation that this is strongly related to concerns about capital flight by Chinese residents, whatever the reasons for the new prohibition in China, it highlights the need for organisations in this sector to carefully structure their sales, consider the risks of crime and the potential applicability of crowdfunding and securities law restrictions.

DOVU’s public token sale is scheduled for 3 October 2017.

The presale launched on 4 September.

For more information or to participate in the crowdsale, visit www.dovu.io/presale.

24 Aug 2017, London, UK, – DOVU, the global marketplace for transport data, announces its token sale, scheduled for 3 Oct, 2017. The project aims to create a distributed marketplace for the give and take of transport-related APIs, fuelled by the DOV token.

DOVU is pioneering a digital economy for the mobility sector. At the moment, transport data is difficult to obtain, holding back insight and progress for the industry. Now, by using blockchain technology, DOVU is providing trust through transparency for data providers, whether corporates or individuals, while opening up the availability of quality data sets for public and enterprise use. The DOVU system works by creating a distributed marketplace for transport data. Vehicle Hire, Insurance Companies, Ride-sharing and others across the mobility sector can connect to DOVU to create a giant network of transport-related data resources.

“The transport sector knows where it wants to go with real time data and smart technology but doesn’t know how to get there! DOVU is the missing piece of the puzzle – an on-ramp for fast, secure and global data sharing for everybody.”

The DOVU platform allows users to mix and match mobility service data, maximizing data value and utility. For example, you could combine car data with insurance data to calculate smarter policies, or use geolocation data in conjunction with weather statistics to inform ride-hailing companies.

Blockchain not only unlocks opportunities for businesses, such as data monetisation and utilisation, but also for individuals, who can be rewarded for their data contributions to the ecosystem. The DOV token is at the core of the network, an access and permissions token central to the process of seamless payment across all mobility services. The platform will also ensure the quality of data available, by having a built-in reward system for positive contributors to the DOVU ecosystem. This allows developers to discover, test, evaluate and combine APIs with unprecedented ease and trust.

DOVU Team

The core team consists of entrepreneurs, data and cloud computing experts, blockchain developers, business consultants, and marketers. DOVU is led by Co-founder and CEO Irfon Watkins, Co-Founder and CMO Arwen Smit, and Co-founder and COO Krasina Mileva.

Watkins, explaining the team and the platform’s strengths said,

“There is an urgent need for practical uses of blockchain technology to bring it to the masses. Leveraging blockchain technology for mobility solutions has broad market appeal. Blockchain will make sure everybody will be fairly rewarded for their contribution to the mobility ecosystem.”

DOVU has been under development since 2016. The DOVU platform is currently in closed beta, and its MVP is scheduled for launch in Q4, 2017. Crowdsale participants can contribute in ETH to become eligible for DOV tokens, the native currency for the DOVU market network.

CEO will be presenting DOVU at When Blockchain Meets Mobility at the Gherkin in London on the 29th of August. The panel will be chaired by MikeButcher, editor-at-large at TechCrunch. Link: https://www.eventbrite.co.uk/e/when-blockchain-meets-mobility-tickets-36537795530

The upcoming DOVU token sale opens on 3 Oct (1700 UTC) and will run until 31 Oct, 2017 with a 20% bonus for early investors.

More information about the crowdsale is available at: www.dovu.io/presale

Learn more about DOVU at: www.dovu.io