On March 17th, IM Auto unveiled the core operational chain of its customer equity platform, CSOP (Customer Share Option Plan).
Firstly, IM Auto plans to issue 300 million “stones” mapping to 4.9% equity returns from the initial round of investment, along with corresponding asset returns and dividends using a range of cutting-edge technologies including blockchain, as a form of data equity to reward and acknowledge user contribution and value.
In the future, at specific points in enterprise development, IM Auto plans to feedback the equity returns to users, based on a set of predetermined rules and protocols, in proportion to the number of stones held by each user. Having received stones, users will not only be able to use them during product iteration, but also share in the appreciation dividends of the enterprise.
To explain in greater detail, IM Auto has designed mediums such as “crystals” and “stones”, establishing a complete link to obtain stones by means of “data care”.
“Crystals” refer to points which users can obtain by participating in interactive tasks on the App, joining official co-creation activities, opening accounts to use specific functions, etc.; “stones” are the counterpart data equity whereby buyers of company vehicles can obtain them by using a certain number of crystals either in a draw or by generating data through vehicle use. The probability and quantity of stones awarded to users is directly proportional to the value of that user’s data; the earlier and the more frequent the vehicle use, the larger the probability and quantity of stones the user can gain.
IM Auto explains that the CSOP user equity platform is operated in a non-profit way, quantitatively publishing the number of stones made available for award and the algorithms and probabilities for awarding those stones each year. The results of the stones received will be recorded on the chain to be unalterable, guaranteeing the fairness and trustworthiness for every user.
Secondly, IM Auto sees user data as the core production material driving enterprise value creation, and is giving priority to the security and operation of user data and rights. In this regard, IM Auto says that its self-developed exclusive blockchain platform allows the circulation of stones to be recorded on the chain, making it traceable and unalterable, thereby ensuring that every user is granted data equity through fairness.
In terms of user data and equity security, IM Auto will cooperate with institutions such as Alibaba’s DAMO Academy to apply cutting-edge technologies including blockchain, zero-knowledge proof, differential privacy, and database firewalls to protect user data security. At the same time, IM Auto has established a regulatory mechanism for user data ethics, which means it will not use integrated biological information like facial recognition which involves user privacy at the level of collecting consumer biological information. Only desensitized information will be collected using intelligent recognition technology.
More detailed operating rules for the CSOP user equity platform will be officially published by IM Auto during the Auto Show in Shanghai in April.
Source: IM Auto
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.