Leading global automakers General Motors, Ford, BMW, Renault and ZF have partnered up, alongside leading technology companies Accenture, IBM and Bosch, amongst others, to begin testing how blockchain can be used to improve transportation and mobility.
The initiative, named the Mobility Open Blockchain Initiative (MOBI) will look to implement blockchain technology in a range of use cases across the automotive industry, including autonomous driving, supply chain and vehicle identity tracking, vehicle payments and ride sharing solutions.
“Blockchain and related trust enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles,” said Chris Ballinger, former Chief Financial Officer and Director of Mobility Services at Toyota, who has been appointed as Chairman and CEO of MOBI.
“By bringing together automakers, suppliers, startups, and government agencies, we can accelerate adoption for the benefit of businesses, consumers and communities.”
MOBI will take an open source approach in the aim accelerating the development and deployment of blockchain-powered solutions that will enhance innovation within the sector.
Alongside Ballinger, MOBI’s board members include Joseph Lubin, Co-Founder of Ethereum, Dan Harple, CEO of Context labs.
“We believe blockchain will transform the way people and businesses interact, creating new opportunities in mobility,” said Rich Strader, Vice President of Mobility Product Solutions, Ford. “We look forward to working together with our industry colleagues as part of MOBI to set the standards for the mobility ecosystem of tomorrow.”