August 30, 2021

Alibaba partner to release app for mining while driving

Alibaba partner to release app for mining while driving

Supported by Internet giant Alibaba, electric car manufacturer Zhiji Auto has developed an application through which drivers will be able to earn digital currency for the mileage covered. This was reported by journalist Colin Wu.

The application IM Zhiji is designed for owners of upcoming electric cars IM brand.

To enter the "mining pool," motorists must enter information about each kilometer driven. As a reward, they will receive digital currency Stone. Initially, the company plans to issue 500 coins 144 times a day. The issue will be halved every four years to maintain liquidity.

The asset can be exchanged for various software upgrades or other company services. When the car's mileage reaches 5,000 km, its owner will be able to buy a new-generation intelligent driving system Lidar Fusion for coins or increase battery capacity to 120 kW⋅h after three years of operation.

The IM electric car will go on sale in 2022. According to the manufacturers, the novelty should become a worthy competitor to Tesla - its driving range is 1000 km.

Recall, in early June, the Canadian car company Daymak announced the release of a three-wheeled electric car Spiritus with the option of mining.

In the same month, it began test mining bitcoin, Ethereum, Dogecoin and other cryptocurrencies live.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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