Mobility Open Blockchain Initiative Announces PoC For First Vehicle Identity On Blockchainbr>
The Mobility Open Blockchain Initiative (MOBI), in partnership with the world largest automakers, is developing a multi-stakeholder Proof of Concept (PoC) for a blockchain-based Vehicle Identity (VID).
MOBI is a nonprofit foundation formed to accelerate adoption and to promote standards in blockchain, distributed ledgers, and related technologies for the benefit of the mobility industry, consumers, and communities. It is an open, inclusive body that acts as a ‘trusted convener’ and partner to entities in the emerging ecosystem of pay for use, on demand, connected, and increasingly autonomous mobility services. The organization includes automobile giants BMW, Ford, GM, Groupe Renault and Honda. It also includes companies outside auto manufacturing, such as Bosch, Blockchain at Berkeley, Hyperledger, Fetch.ai, IBM and IOTA.
In September 2018, MOBI members launched an important joint initiative to test implementation of the first VID standard, released earlier this year, taking a critical step towards the new economy of movement with blockchain. According to MOBI, blockchain-based VID makes it easy to associate vehicle payments directly to a vehicle rather than needing a payment account associated with a person or business. Smart contracts can then enable direct and low cost micro-payments to and from multiple parties in response to detectable events. MOBI claims that this will accelerate existing trends toward pay per use mobility and mobility as a service.
“Creating a trusted digital identity for a vehicle unlocks the potential for a mobility payments network, including: V2V/V2X transactions, electric vehicle to grid integration, usage-based services, fleet operations, congestion pricing, carbon footprint management, and more,” said MOBI CEO Chris Ballinger. “We are delighted that a large segment of the industry is partnering with MOBI to build the foundation to prove existence, manage access control, confirm product definition and ownership history, and track events in the life of a vehicle.”
MOBI said that it expects the PoC will give governments and transit operators new tools, in the near future, to reduce congestion and combat pollution, thereby making mobility safer, greener and more affordable. While the official PoC will take months to complete, key mobility stakeholders will be attending the seventh MOBI Colloquium, MoCo Los Angeles, in November for the first demonstration of car wallets using the MOBI VID standard.