Fiat offers free cryptocoins to drivers who go green – the more you drive the more cryptocurrencies you collect
Owners of the new Fiat 500 electric car will be rewarded for eco driving with free cryptocurrency that can be spent at a dedicated online marketplace. Fiat’s parent company Stellantis has teamed up with a cryptocurrency UK start-up called Kiri Technologies to run its rewards programme.
Stellantis is the first automaker to reward its customers by means of an awards system for the most environmentally conscious driving behaviors, according to the press release.
Developed by the green-tech startup Kiri Technologies exclusively for e-Mobility by Stellantis, the new system rewards New 500 drivers in 13 European countries with KiriCoin, a cryptocurrency that can be spent in a dedicated marketplace.
The Fiat app can be used to check the KiriCoin collected and the driving style, based on an eco:Score.
The drivers with the best scores will receive exclusive extra rewards like Amazon, Apple, Netflix, Spotify and Zalando vouchers.
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“Kiri” is the Japanese name for Paulownia, the tree that absorbs 10 times more CO2 than any other plant: just one hectare of this tree offsets around 30 tons of CO2 per year, the equivalent of the emissions produced by 30 cars running for the same period. This is the origin of the name Kiri, the new initiative developed by the green-tech startup Kiri Technologies with e-Mobility team by Stellantis and Fiat’s iconic, award-winning New 500.
Kiri Technologies is a startup founded in the UK in 2020 with the mission of accelerating the adoption of sustainable behaviors. With the claim “Think Big. Act Green”, Kiri aims at stimulating change and accelerating the adoption of environmentally friendly behaviors. For Kiri, every little action, every single gesture is relevant. The new KiriCoin promotes green attitudes: the more you behave sustainably, the more you earn.
The basic concept behind the project consists of rewarding New 500 customers for their more environmentally conscious driving style by awarding them a cryptocurrency known as KiriCoins.
Simply by driving the New 500, connected and equipped with the new infotainment system, KiriCoins can be collected in a “virtual” wallet showed in the Fiat app. Driving data, such as distance and speed, is uploaded to the Kiri cloud and automatically converted into KiriCoins, using an algorithm devised by Kiri. The result is downloaded direct to the user’s smartphone and the KiriCoins can then be used to purchase products and services in the Kiri marketplace.”
When driving in the city the usual way, one kilometer is more or less equivalent to one KiriCoin, with each KiriCoin worth two euro cents. Therefore, with mileage of 10,000 km per year in the city, the equivalent of around €150 can be collected. This is a benefit for New 500 drivers who respect the environment by not emitting CO2 into the atmosphere.
In future, the initiative could also be extended to reward sustainable behaviors in other sectors such as the purchase of renewable energy, organic groceries and products. The goal is to create a community of people with a more environmentally conscious attitude, by means of a loyalty program that incentivizes taking on a sustainable lifestyle: the New 500 can therefore be considered the first step in this new system that does not reward purchases but rather awards more sustainable behaviors.
To further incentivize the use of the New 500, extra rewards are offered to the drivers who achieve the highest eco:Score, a Uconnect™ Services feature marking the efficiency of their driving style from 0 to 100, to help improve energy consumption in real time. Customers with the highest scores in the major European countries will receive access to extra offers from major partners such as Amazon, Apple, Netflix, Spotify Premium and Zalando.
Kiri will enable Stellantis to rack up 3 world records in the automotive industry for its customers. First, the ability to collect a cryptocurrency simply by driving; second, giving access to a marketplace dedicated to eco-friendly offers; finally, providing extra rewards for the most environmentally conscious driving styles based on the eco:Score they achieve.
A practical, tangible design for sustainable living, a turning point aimed at changing for the better the way we drive, the way we shop and the way we live as a community while paying attention to the environment.
The recording of the press conference can be viewed below:
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
