Through the cutting edge technology of Blockchain and Cryptocurrency in order to reward participants for performing a specific task Tesla might just have a advantage in order to stand toe-to-toe with google in street map data collection by the end of 2019.
Below you will find the Why, How and What.
Why would Tesla need a cryptocurrency?Tesla would benefit from the deployment of a native cryptocurrency through the ability of being able to reward ‘data collectors’ for the collection of specific and crucial map data in which would allow for Tesla to finally roll out fully autonomous self-driving vehicles on urban road while at the same time offsetting the long and expensive procedure of collecting map data.
How would this benefit Tesla?Through the launch of Tesla’s own cryptocurrency and the use of blockchain Tesla would be able to obtain map data quicker, safer, and cost effectively versus traditional methods of map data collection used by Google.
- Quicker - through Tesla having the option of having ‘data collectors’ all over the world working on gathering map data in return for block rewards 24/7, day and night, nonstop, Tesla could have a pretty impressive map data worldwide in merely 3–4 months rather than traditional ways such as google in which would have taken 4 years thus making the process of map data collection 16x faster.
- Safer - Unlinke Google who may have 1–3 workers at a time working and verifying roads in specific area at a time, Tesla would be able to have 12–32 ‘data collectors’ or more verifying and gathering data on urban roads at a time making the map data information gathered by Tesla 4–8x safer and more reliable than Googles.
- Cost-Effective - Google has spent millions literally millions and millions of dollars in paying workers to collect map data for them out on the roads versus Tesla only having to pay no more than $100,000 in the creation of Tesla’s blockchain and native cryptocurrency bringing in huge savings to Tesla for the collection of such precious data.
What gives Tesla’s cryptocurrency real value?Tesla’s premium membership and premium connectivity perks will ensure that Tesla’s coin always has real value throughout time as new cash flow will always be flowing into Tesla’s native cryptocurrency.
With Tesla’s premium membership coming in at $4.99/month and premium connectivity coming in at $8.94/month and a estimate of 500,000 Tesla cars having been manifactured and calculating a 10% conversition rate to Tesla’s premium feature’s we could be seeing a total of $695,500/month of new cash flow being directed to Tesla’s new native cryptocurrency and this does not include all those bystanders who will be eagerly waiting to get ahold of some of Tesla’s native cryptocurrency also.
ConclusionIf Elon Musk was to take advantage of the model shown above Tesla will remain the crown holder in this race to establish the first fully autonomous self-driving vehicle.
https://medium.com/@justaonetimeuse0596/how-tesla-could-go-toe-to-toe-with-googles-street-map-data-collection-by-the-end-of-2019-a436ef1fb102
