The automotive data platform DIMO has established a joint venture with Hakuhodo KEY3 in Japan to help manufacturers monetize vehicle data.

Gate News bot message, the decentralized automotive data platform DIMO announced today that it will establish a joint venture with the Web3 company Hakuhodo KEY3 to enter the Japanese market, targeting automobile manufacturers facing high infrastructure construction costs and increasingly stringent privacy regulation pressures.

Ryo Hayashi, the CEO of DIMO in Japan, stated in a statement: “Japan remains an indispensable part of the global market, with major automotive manufacturers, tier-one suppliers, and mobility innovators concentrated in Japan. Our current focus is on expanding the DIMO platform and enabling local companies to integrate with it.”

Hayashi stated that this move will help eliminate the “infrastructure barriers” that auto manufacturers, service partners, and third-party developers hope to “build and innovate” through its platform.

The operation of DIMO’s decentralized physical infrastructure network (DePIN) is similar to that of a vehicle data marketplace. Drivers retain ownership of their information, while automakers can gain aggregated insights to develop various features ranging from real-time diagnostics to usage-based insurance.

Source: Decrypt