Ford, GM, BMW Part of New Blockchain Research Group
May 3, 2018—Automakers Ford, GM, BMW and Renault are among the OEMs behind a new research group that was launched this week in an effort to explore the potential of blockchain technology for automotive. The Mobility Open Blockchain Initiative (MOBI) launched on Wednesday with more than 30 founding members, including Bosch, IBM and Blockchain at Berkeley.
The group has an overall mission of making transportation safer, affordable, and more widely accessible using blockchain technology, according to a report by techcrunch.com. Blockchain technology, according to the authors of Blockchain Revolution, “is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but also virtually everything of value.”
MOBI said its focuses include payments, data tracking, supply management, along with evolving areas like autonomous vehicles and ride-sharing systems. The MOBI group is focused strictly on the automotive industry.
“Blockchain and related trust-enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles,” said Chris Ballinger, MOBI’s chairman and CEO. “By bringing together automakers, suppliers, startups, and government agencies, we can accelerate adoption for the benefit of businesses …”