Four Great Automakers Coalesce for The Largest Blockchain Consortium in the World | Token Spoken
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Four Great Automakers Coalesce for The Largest Blockchain Consortium in the World

According to the report made on Tuesday, May 1, 4 greatest automakers including BMW, Ford, General Motors and Renault released Mobility Open Blokchain Initiative.

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Previously, IBM and ZF had begun work on blockchain applications in the automotive sector and in 2017 had tested the crypto car wallet. However, the new consortium is expected to be characterized by more comprehensive members and larger projects.

The consortium, which will be based on the same principle as the project previously tested by IBM, aims to provide the opportunity to pay and transfer data between tools.

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“We need to have common standards and common means for tools to communicate, to define themselves and to make payment,” said MOBI CEO Chris Ballinger in response to Coindesk. “If every automobile company is trying to develop its own car wallet or its own payment tools, this service does not work very well,” also said Ballinger, who had also worked at the Toyota Research Institute.

MOBI Plans to Improve Road Safety

The MOBI consortium was the latest project that has coordinated the process of transferring information between automobiles and presented blockchain technology as a base. In addition, the company is the only automobile manufacturer aiming to develop an initiative of blockchain-based proof-of-concept.

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MOBI wants to offer a new decentralized instrument with this consortium, while it wants to use the advantages of a project that will improve the traffic safety system with a blockchain based technology.

The plans of MOBI are much bigger than the projects that have been made up to now in the automotive sector and the main objective is to be the biggest automobile manufacturer in the world and become a blockchain-base consortium.

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