[Accepted]Ahoy- Machine to machine payments for boat docking plus insured smart contracts with weather data

Proposal details

A decentralized weather data capturing solution for boats to communicate with smart contracts that insure against real-time voyages and the weather conditions out at sea in real-time, log past performance, and predictively adjust.

Boating activity is highly determined by the weather. Unfortunately, boaters are never guaranteed sunny, blue sky, and calm sea conditions. If the local news forecast is predicting rain, then most boaters don’t bother, halting economic activity for marinas on such days. However, if marinas and boaters could accurately assess risk based on correlating weather conditions, then the insurance becomes adjustable based on that risk.

Project Name

Ahoy_CHAINLINK_Weather_Oracle_PoC

Project Type

A decentralized solution for boat-to-dock payment (IoTex-machine Fi) with weather probability oracle (Chainlink-IBM’s Weather.com) based on the boat’s voyage and captain’s log data.

Proposal Description

The Chainlink node allows AccuWeather to make its data instantaneously available to smart contracts running on blockchains. In the realm of parametric insurance, smart contracts replace fallible, human-mediated agreements with self-executing policies that are automatically triggered by data proving weather outcomes.

In this Proof of Concept for Ahoy (Boating’s Machine Economy) insures against poor weather conditions for a boater’s pre-scheduled and booked dockage accommodations, with a marina.

The idea is for a skipper to set off from location A and attempt to arrive at location B, however; if poor weather events are in effect during the crossing (temperature drops, rain, wind, choppy seas), then the boater may be fully or partially refunded, depending on if one or all of the conditions of the Smart Contract are met. If poor weather events are in effect, on the day/time of the crossing, and the boater elects to forgo their reservation by leaving the boat stationary, then the marina’s policy protection self-executes.

At a basic level, this involves the following components.

  • Boats with IoTex Pebble onboard + off-chain data oracles providing weather conditions.

    • In both the origin and destination (TBD but South Florida-Caribean)
    • A weather event to insure against
  • Users

    • Insured user taking a boat trip policy
    • An insurer providing the policy
  • Smart Contracts

    • Memorialization of terms between users
      • Weather probability oracle based on trip
      • Calculation of premium
    • Premium payment
      • Insured-to-Insurer
  • IoTex Pebble updating the state of the terms (up to debate)

    • Starting-Snapshot, Approved, In Transit, or Complete
      • Starting-Snapshot
        • Real-time weather is taken on day of the trip from Point A and Point B
      • Approved
        • Conditions are satisfactory, mission-go.
      • Denied
        • Conditions are unsatisfactory, trip canceled, Trigger of Policy Coverage if a weather event is true.
          • Marina is covered
      • In Transit
        • Current Weather Conditions
          • Frequency and type of data TBD
      • Complete
        • Trigger of Policy Coverage if a weather event is true
          • Boater is covered

Marina management systems today are highly fragmented across disparate enterprise systems, resulting in siloed data and increased back-office costs for marinas. Currently, marina managers are using middleman software companies who seek to impose standards in order to extract monopoly rent. What is needed is a single source of truth for worldwide marina management that will lower costs, eliminate systemic risk, and create transparency.

Machine-Fi USE CASE IDEA: IFTTT

If [a permitted boat enters the geofenced dock slip space], then [the dock’s wallet accepts dockage payment and updates vacancy status across marina management systems]

Summary of the data + analytics used

Boat’s meta-data: Length, beam, draft, height, etc.

Dock Slip data: Price per footage, capacity, water depth, etc.

Boat’s GPS location data

Marina’s Coordinates

Geofencing

Mission

AHOY is looking to build a decentralized ledger on IoTex to securely aggregate boating and weather data and enable the secure development of scalable decentralized boating applications.

  • Showcase PoC - duel market with Chainlink and IoTex and parlay into hype for Ahoy’s larger vision.
  • Raise money to hire some core developers, marketing budget, and legal services
  • Tokenize Real World boating assets
    *Build a Decentralized boating network IoT economy

Ahoy’s founding team is part of the Industry IoT Consortium (IIC), The IIC focuses on driving deployments of innovative technology solutions that digitally transform businesses.

We also have a growing list of marine industry companies, including Bassett Yacht & Boat Sales, Lewis Marine, Marine Max, Marina One, Safe Harbor, and Watershed Innovations; that are interested to build on top of Ahoy since they’ll greatly benefit from securely accessing active boat user data.

We had a prototype built to help our pitch when talking to companies: https://ahoyboating.app/

For IoTex, a project like Ahoy strengthens the network effect in the IoTex ecosystem, as everyday people interact with boats, they are simultaneously interacting with Web3.

This Web3 future for the boating ecosystem will require smart devices for constant monitoring, and a protocol like Ahoy to aggregate and enable the use of data, IoTex will help change the pleasure boating industry.

Milestones

Milestone 1
Time: 6 Weeks

  • Place IoTex Pebble Tracker devices on the boat and at the destination marina
  • Hire a developer to make this proof of concept on test net
  • Video Document the boat trip with tech explainer illustrations
  • At least 1000 people are following the project (social media, etc.)
  • At least cooperate with 1 boating industry player (boat manufacturers, marinas, dealerships, etc.)

Funds Requested: $10,000 USD

Milestone 2
Time: 18 Weeks

  • Pay for a charter boat service and onboard an existing charter yacht company
    *Keep marketing with IoTex
  • At least 500 Pebble Tracker devices running with AHOY
    *At least 3500 people are following the project (social media, etc.)
    *At least cooperate with boating industry players (boat manufacturers, marinas, dealerships, etc.)

Funds Requested: $20,000 USD

Total funds requested

Total money requested: $30 000 USD

$30 000 will enable the team (2-3 people) to commit time to Ahoy’s project and hire a development firm to build this PoC. During this time, arrange a charter boat, coordinate with the destination marina, chart our course, deploy IoTex Pebble tracker devices, collect and analyze weather data, and produce/film the entire experiment/experience. Any remaining funds will be utilized for the official Ahoy website launch and white paper release.

About your Team

John Paul Zable

Link3: ahoydao | Link3.to
LinkedIn: https://www.linkedin.com/in/john-paul-zable-ahoy/

John Paul Zable (community lead), has been involved in the boating industry his entire life, mainly because of his family business Bassett Boat. Bassett Boat has been in operation since 1944 and has operated as a boat dealership, marina manager, boat service center, rental business, and more. Then in 1998 Bassett Boat spawned Marine Max, which went on to become the largest recreational boat distributor in the Americas, if not the world. John Paul is the right person to take Ahoy to the boating industry thanks to his family’s well-respected reputation and their long-standing business relationships with boat industry leaders.

Jack Blake

LinkedIn: https://www.linkedin.com/in/jackthomasblake/

Twitter: https://twitter.com/captainjack_eth

Jack Blake, is a licensed sailboat captain and has sailed for one of the world’s largest flotilla event companies, The Yacht Week, captaining over 20+ week-long charters in Croatia and the British Virgin Islands. Today he lives in Austin, TX studying crypto and working on yachts at Lake Travis.

Metrics

Ahoy aims to hit these metrics during the PoC:

  • Individuals: The growth of MachineFi will make it easy for all participants in the boating ecosystem to store their data on Ahoy.
  • Marine Industry Stakeholders: Ahoy can set the new industry standard for Marine-based Web3 applications. Lowering the barriers to entry of boating and dramatically reducing costs and friction in boating processes along the way.
  • Weather forecasting models: National weather services need multiple points of data to help predict, track, and record weather data.

Thanks for submitting the halo grant application, we are reviewing it

1 Like

Why would you not seek a partnership with Iotex instead of applying for a halo grant to pay for developers?