- Polygon and Pyse tokenize EV fleets in Dubai, targeting real-time data monetization.
- Pyse’s DePIN devices reward high-quality urban data, aiding insurers and logistics firms.
- India is next for expansion, with blockchain to solve EV funding gaps and logistics.
Polygon Labs and sustainable infrastructure startup Pyse have launched a compelling blockchain-based electric vehicle (EV) initiative in Dubai, with potential India expansion planned.
The project tokenizes an entire e-motorcycle fleet, anchoring ownership records and valuable real-time data collection onto Polygon’s Ethereum Layer-2 network.
How Tokenized EVs Collect and Monetize Data
Each Dubai vehicle uses Pyse’s proprietary DePIN Mining Machine (DMM) to collect a range of valuable urban environmental and infrastructure data (like air quality, noise levels, and road surface conditions), feeding this information directly to the blockchain. This collected data is then effectively monetized using token-based reward systems governed by various partner protocols.
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Polygon’s Aishwary Gupta confirmed the platform prioritizes RWA tokenization, aiming “to support the integration of any asset that can be brought on-chain.” Pyse co-founder Harshit Garg described it as blending sustainable asset income with decentralized data monetization, where DMMs reward only valuable inputs.
Real-World Use Cases and India Expansion
Garg highlighted stakeholders like insurers, logistics firms, and OEMs already accessing Dubai data, compensation varying by utility. Gupta contrasted this dynamic live-use vehicle plus real-time data yield model as an innovative step beyond static RWAs like real estate for blockchain integration.
Despite the unclear regulatory environment for crypto in India, Gupta explained that Polygon’s role in the project is limited to providing blockchain infrastructure. Pyse is also responsible for managing compliance matters.
Related: Polygon 2.0 Unveils AggLayer Protocol for Web3 Unification
Following the Dubai launch, Pyse plans to introduce its EV data-mining model to India. The company initially focuses on last-mile delivery operations, with plans to scale into ride-hailing and mid-mile logistics. Garg noted that India’s fragmented B2B EV market and limited financing options qualify it for blockchain-enabled funding solutions.
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