Automotive companies launch blockchain initiative

Major players in the automotive industry are backing a new initiative which aims to “use blockchain and related technologies to make mobility safer, greener and more affordable”.

According to reports, the partners in the Mobility Open Blockchain Initiative (mobi) include the car makers BMW, GM, Ford, Renault and technology companies Bosch, Blockchain at Berkeley, Hyperledger, Fetch.ai, IBM and IOTA. According to the mobi website, its partnership base also includes public transport and infrastructure providers, municipalities, insurers and energy companies.

Among much else, mobi will look at how blockchain can be use for applications such as car and ride sharing, supply chain, congestion fees and pollution taxes, usage-based insurance and mobility commerce platforms.

The CEO of mobi, Chris Ballinger, is the former Chief Financial Officer and Director of Mobility Services for the Toyota Research Institute