Asset Lifecycle - WEDO Bike

Asset Lifecycle - WEDO Bike

All The Power Of Artificial Intelligence

The WEDO Bike demo starts with the generation of an NFT (Non-fungible token) uniquely mapped to a new asset (bike) that is manufactured and sold to a rental company. This NFT is a fixed identity created on Blockchain indicating ownership and is immutable. Oracle Digital Assistant chatbot makes it easy for an user to request details of the asset (bike) and register to lease it.

The transaction is enabled using FT (Fungible Tokens). FT enables seamless cross network transactions without the need for intermediaries, thereby enabling a platform of trust and saving time & cost.

The activities and parameters of the bike (asset) are recorded through various sensors and devices and managed via Oracle IoT services. The concept of Digital Twin (of the real physical bike) is used to simulate various parameters to automatically trigger events, such as, taking control of the asset or running predictive maintenance activities. Application interfaces are built using low-code Visual Builder services.

Objective:

To identify uniquely an asset/device (bike). It could be the whole asset or parts of the asset.
Ability to carryout seamless monetary transactions for services of the asset (bike) with various entities in the ecosystem.
Simulate parameters (speed, location…) of the asset and automate actions based on business process.

Use Cases:

Asset Tracking
Smart City and Transportation
Wellness and Health Insurance

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