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Fiat launches blockchain token rewards for sustainable driving

fiat 500e electric

Stellantis and UK-based startup Kiri Technologies will use blockchain rewards to encourage sustainable driving behavior. Stellantis is the result of a recent merger between Groupe PSA and Fiat Chrysler and owns 16 car brands, including Peugeot, Citroen, Chrysler and Fiat.

The rewards initiative will be conducted under Stellantis e-mobility program. Drivers of the New 500 Fiat, a fully electric car, will be awarded KiriCoins, which can be spent in the Kiri marketplace. The New 500 car is connected to a system that automatically collects KiriCoins based on driving distance and speed and places the tokens in a virtual wallet that can be accessed through the Fiat app. To collect the coins, customers simply have to download the app, connect it to Kiri, and drive. 

Driving one kilometer at a normal speed in the city is the equivalent of one KiriCoin, which is currently worth two European cents. While driving, the calculations and conversion of kilometers to KiriCoins are immediate and certified through blockchain technology. Besides concrete rewards available on the digital marketplace, the 500 drivers who achieve the highest eco:Score, which measures the efficiency of driving from 0 to 100, will have access to additional offers from Stellantis, including for Amazon, Apple, Netflix, and Spotify. The goal is to promote more sustainable and energy efficient driving. 

The reward program aims to give a competitive advantage to the New 500. Electric cars are no longer a novelty on the market, and companies need to figure out creative methods to brand and differentiate their product. Additionally, these automobiles are also competing with traditional and often cheaper models. Unlike Tesla, Fiat is not necessarily associated with electric vehicles. This rewards program has the potential to attract new customers and establish a branding that associates New 500 with sustainable driving. 

Meanwhile, the technology provider Kiri has a mission is to “Think Big. Act Green”. The concept implemented on the New 500 is based on rewarding sustainable actions. The startup hopes to expand this solution to promote other sustainable consumption behaviors such as using renewable energy and prioritizing organic shopping. 

While this may be a high profile initiative to enable drivers to gain access to coins simply by driving, we’re not sure it’s the first. 

In 2018, China’s BYD, the world’s largest electric vehicle and battery manufacturer, launched a carbon credit system that rewards drivers based on performance and carbon footprint. It too enabled drivers to redeem rewards using tokens. BMW Korea is also exploring a blockchain-based rewards program, and the car company has a partnership with VeChain for tracking mileage on a blockchain-based app. Daimler and BBVA tested the use of blockchain tokens on their employees over three years ago, which rewarded environmentally-friendly driving.