Mapcoin is a platform that drives the creation of maps and location data using the power of this community. It intends to drive the future of mapping technology and the users get paid for sharing their data in this platform. The simple way to describe Mapcoin mode of work is that they collect data from the users and in turn the users earn money for sharing their original data.
The automotive data monetisation could offer $33 billion in opportunities for original equipment manufacturers (OEMs) but with MapCoin, the creator of data, should be rewarded for collecting this data.
It has been described that data is the single biggest requirement for the development of autonomous vehicles and the next generation of maps. The first reason is because in Artificial Intelligence (AI) all autonomous vehicles use advanced AI to help them recognize, people, cars, objects, etc, as well as helping them make decisions on the best course of action. AI is trained by giving thousands of examples of images and videos in order for the AI to be able to understand the road and the driving environment. Furthermore, the amount of data that needs to be collected for training material is much and it is time consuming to collect. The companies like Google, try to collect the data themselves by sending their own fleet of vehicles equipped with cameras and other sensors to drive the planet. This process is a very costly.
The second reason is the High Definition Maps (HD Maps) which unlike humans who can use a normal map to navigate, autonomous vehicles need a very accurate HD map in order to accurately position themselves and to help understand the road network around them. Moreover, the typical map data that people currently use in their navigation apps is accurate to around 3m, whereas HD maps for Autonomous vehicles are accurate to less than 20cms. Mapping the world at that resolution takes a lot of effort and requires a huge amount of data.
Consequently up till now data has been generated by companies working in the autonomous vehicles or mapping industries using old collection methods, however that is all about to change because MapCoin has been designed help to collect this data and reward people for doing so.
Looking at it as “proactive” crowd sourcing, MapCoin is not only a platform to help companies collect this data, but it is also a Cryptocurrency which means people not only get paid for collecting data, but also have a potential investment asset.
MapCoin solution begins with the introduction of MapCoin Collectr App which is the easiest method for people to get started collecting and earning MapCoins for data. This is a app that can be downloaded and installed on a users phone. The app uses the camera in the phone to collect video data to be used for mapping.
As soon as the app is installed the user simply has to mount the phone on the window of their car and then start the Collectr app. As they drive the app will collect video footage of the road and send it to MapCoin for processing.
For details information about Mapcoin, it is important to check their various links and channels indicated below:
Website: https://mapcoin.io/
Whitepaper: https://mapcoin.io/documents/mapcoin-en.pdf
Join on Telegram: https://t.me/teammapcoin
Follow on Twitter: https://twitter.com/Mapcointoken
Follow on Facebook: https://www.facebook.com/mapcointoken/
Follow on Medium: https://medium.com/@Mapcointoken
NB: Most of the picture diagrams displayed in this write up are obtained from official site of Mapcoin.
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