According to the US media on May 2nd, BMW, Bosch, Ford, General Motors, Renault, ZF and other automakers, suppliers and automotive companies have established the Mobility Open Blockchain Initiative (MOBI) alliance to develop blockchains. Potential use of technology.
Companies covered by MOBI are associated with 70% of global automotive manufacturing business. CEO Chris Ballinger said that blockchain and related encryption technologies will redefine the way the auto industry and consumers purchase, insure and use cars.
Bitcoin and other cryptocurrencies currently use blockchain as a distributed ledger. The system is open to the outside world, but it can be cryptographically protected to create secure transaction records. MOBI aims to create a blockchain ecosystem specifically for the automotive industry. Potential applications include vehicle identification, supply chain tracking, vehicle payment, data markets, and user-based pricing systems.
Sachin Lulla, vice president of IBM's automotive industry, said that uniting the automotive industry and establishing an interoperable blockchain network is critical to the potential of the blockchain in the automotive industry. MOBI has not yet announced the introduction of open source blockchain tools and standards. schedule.