On May 2nd, a new group made from the car manufacturing giants BMW, General Motors, Fords and Renault was announced to explore the potential of the Blockchain technology in the automotive and mobility industry.
MOBI – the Mobility Open Blockchain Initiative – launched yesterday with over 30 founding members including Bosch, Blockchain at Berkeley, Hyperledger, Fetch.ai, IBM, and IOTA. The goal of the group is to make transportation “safer, more affordable, and more widely accessible using Blockchain technology.”
The potential of Blockchain can leave its impact on a range of industries. Especially, the distributed ledger and the smart contracts could reshape how organizations and products utilize data. MOBI focuses its efforts on a variety of procedures from payments, data tracking, and supply management, to consumer finance and pricing, and more futuristic areas such as autonomous vehicles and ride-sharing systems.
This is not the first initiative on Blockchain in automotive space. Firstly Toyota is executing its own research; Renault has joined the R3 research consortium, while Daimler is part of the Hyperledger project from the Linux Foundation. The special with MOBI is that the group is focusing entirely on the automotive industry and the potential use cases.
“Blockchain and related trust enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles,” Chris Ballinger, who is MOBI’s first chairman and CEO, said in a statement.
“By bringing together automakers, suppliers, startups, and government agencies, we can accelerate adoption for the benefit of businesses, consumers, and communities,” added Ballinger, who was formerly CFO and director of mobility services at the Toyota Research Institute.
Joseph Lubin, founder of ConsenSys and a co-founder of Ethereum, and Brian Behlendorf, executive director of Hyperledger are members of the organization’s board, among others.