Vodafone DAB Opens Door to 'Economy of Things'

While forecasts quibble over exact numbers, the IoT is primed for further growth, with projections placing the total number of connected devices somewhere between 25 and 30 billion by 2025. Pandemic-tested, enterprise and consumer-approved, the connected world is here. 

Vodafone joined IoT and blockchain technology in its “Economy of Things” platform, Digital Asset Broker (DAB), enabling electric vehicles (EV) to direct transactions with charging points as well as other service-providing devices.

Johan Wibergh, Vodafone Chief Technology Officer, said, “We are building in-house new, scaled platforms for our customers across Europe and Africa. This, our latest platform, will drive the new Economy of Things where everyday objects and devices can negotiate, buy and sell services on our behalf. We are actively talking with many other companies to rapidly expand partnerships and widen the ecosystem worldwide to include other features and payment schemes.”

The DAB seamlessly and securely connects to vehicles, connected devices, machines and smart street infrastructure resulting in automatically transacted business. Blockchain technology verifies each device to back platform security, leveraging each device’s unique digital identity to communicate and complete transactions via mobile sim secured wallet and payment tech. Companies can go to market with rapidly authenticated products and services, and devices capable of delivering real-time financial transactions.  

Central to the payment component are partnerships with Mastercard and Energy Web, where Newbury, U.K. is home to trial featuring connected EVs securely and autonomously communicating with a charging point – all in real time. In addition, by choosing Energy Web, Vodafone puts customers in the position to choose renewable energy providers, while at the same time alleviating ‘range anxiety.’

Jesse Morris, CEO of Energy Web Foundation, explained, “Electrification is a major part of global decarbonization efforts. However, there’s currently no way for EV drivers to ensure that all the electricity used to charge their vehicles comes from renewable sources. As access to green energy solutions is democratized, this is sorely needed.  Working with any on-street EV charger, our solution can give individuals and companies assurance of clean energy use—a real game changer for EV users and companies with electric fleets.”

Transitioning to EVs and more environmentally friendly practices requires the infrastructure to support the shift; from frequency of charging stations and to more secure technology underpinning the exchange of goods and services in this connected reality.

This past summer, Vodafone VP New Business Development and IoT Evolution Expo ’21 keynote speaker Erik Kling told me emphatically, “IoT can save the world!” DAB is delivering. 

Learn more from Vodafone, and other IoT industry leaders aiming to make the world a better place at IoT Evolution Expo 2022 in Fort Lauderdale, Florida June 21-24. See you there!