The Mobility Open Blockchain Initiative (MOBI) and the Trusted IoT Alliance (TIoTA) have launched a three-year challenge series.
The MOBI Grand Challenge series’ first phase is a four-month tournament launching 12 October, showcasing how blockchain technology can improve transportation.
To conclude this section of the challenge, BMW Group and MOBI will host a demonstration of technologies in Munich, Germany, on 15 February, 2019.
“Today, many pieces of the smart mobility future are already in place and there are no fundamental roadblocks to realizing the full benefits of blockchain connected vehicles,” stated Chris Ballinger, CEO and Co-Founder of MOBI.
“Through the MGC, MOBI and TIoTA aim to spark corporate, government and academic cooperation, connect developers with key stakeholders to drive progress, and fully exploit the potential of blockchain technology.”
Through blockchain technology, the challenge aims to reduce environmental damage caused by cars and traffic congestion.
“Mobility is a breakout IoT industry vertical for blockchain,” commented Zaki Manian, Executive Director of TIoTA and member of the Board of Advisors at MOBI.
“Only a small percentage of companies have completed end-to-end proof of concepts in this area and our intent is to fill this gap. With this collaboration, we will further the viability of applications of blockchain for smart contract enabled IoT devices.”