New Blockchain Research Group Launched By 30 Members Including Car Giants BMW, GM

May 2, 2018 5:55 pm Published by

In a bid to change transportation, four of the world’s largest car manufacturers launched their joint blockchain platform Wednesday, CoinTelegraph reported.

With more than 30 participants – including BMW, GM, Ford and Renault – the Mobility Open Blockchain Initiative (MOBI) platform includes Bosch, Hyperledger, IBM and IOTA, the report said.

The project’s official website said members will focus on “using blockchain and related technologies to make mobility safer, greener and more affordable.”

MOBI is the biggest joint venture of its kind in the automotive industry, with separate manufacturers having launched private blockchain services or joined extant initiatives in the past, such as Hyperledger’s own suite of services.

In a statement by MOBI chairman and CEO Chris Ballinger said “By bringing together automakers, suppliers, startups, and government agencies, we can accelerate adoption for the benefit of businesses, consumers and communities, TechCrunch reported.

While the premise of MOBI remains fairly broad, its potential is nonetheless conspicuous, coming as auto businesses ramp up efforts to corner blockchain, the report said.

For example, Daimler launched its own cryptocurrency dubbed MobiCoin in March, CoinTelegraph reported. Designed to reward drivers for virtuous behavior on the road, the project is currently going through a three-month test phase., Jack Durschlag

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