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BMW, Bosch, Ford, Renault to launch world’s largest blockchain initative

Rajath Kumar



BMW, Bosch, Ford, Renault to launch world's largest blockchain initative
Source: Pexels

The world’s largest car manufacturers have announced the largest consortium named as Mobility Open Blockchain Initiative [MOBI], focusing on applying blockchain tech in the automotive sector. BMW, General Motors, Ford, Bosch, Renault are some of the big names in the MOBI. They offer to explore the potential of the blockchain in the automotive and mobility space.

Mobility Open Blockchain Initiative is a consortium aimed at finding and developing automotive uses for blockchain technology. The group has a broad goal of making transportation “safer, more affordable, and more widely accessible using blockchain technology.”

MOBI will work to ensure blockchain based services that can be easily recognized with vehicles from multiple brands in order to avoid a situation in which a car can’t transact with a system it is not compatible with. It will also host talks and seminars for its members.

Many automotive firms have had a look at blockchain. Toyota is already conducting its research and Daimler is part of the Hyperledger project of the Linux Foundation. The major difference MOBI has is that the group is entirely focusing on the automotive space and potential use cases rather than automotive as one of a number of industries.

Chris Ballinger the chairman and CEO of MOBI says:

“Blockchain and related trust enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles.”

Rich Strader, Vice President of Mobility Product Solutions says:

“We believe blockchain will transform the way people and business interact, creating new opportunities in mobility. We look forward to working together with our industry colleagues as a part of MOBI to set standards for the mobility ecosystem tommrow.”

Sachin Lulla, Vice President of IBM Automotive Industry says:

“A set of blockchain standards for the mobility industry will allow auto, infrastructure and service providers to efficiently communicate and transcat with each other.”

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Rajath Kumar is an intern at AMBCrypto. He became aware of the crypto-world through gaming and has been a part of it for two years now. Rajath does not hold any value in any cryptocurrencies or its projects.

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