‘MOBI’, a new group of the largest automakers of the world, plan to introduce Blockchain Technology in the automobile sector, the same technology utilized for crypto currencies.
Mobility Open Blockchain Initiative (MOBI) includes BMW, Ford, Renault and General Motors. IBM, Bosch and Blockchain are also included as the Founding members at Berkeley.
Amazon, Apple, Google and Microsoft have already marked their presence into the automobile industry. Amazon has expanded Alexa’s presence to cars, Microsoft Azure has a car system and Apple offers Carplay for iOS.
Brian Kelly, Founder and CEO of BKCM states, “This is a tectonic shift in the tech landscape, which has the potential to disrupt the growth plans of legacy tech into the auto.” He also appreciates the companies’ steps towards this revolution.
Automobile manufacturer Porsche was the first manufacturer to implement and successfully test Blockchain in a car.
Oliver Döring, the Financial strategist for Porsche, states “We can use Blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future, whether they are charging, parking, or need to give a third party, such as a parcel delivery agent, temporary access to the vehicle. We translate the innovative technology into direct benefits for the customer”
According to Porsche, the process of unlocking and locking the car could speed up by 6 times with the Blockchain features through an app. This is possible when the car is installed with the Blockchain, making a direct offline connection without diversion by a server.
Industry veteran Chris Ballinger, Ex-CFO and head of mobility services at Toyota Research Institute, will be the head of the MOBI group.
In 2021, Global Economic Growth was 5.5%. But the latest UN Report predicts only 4% Global Economic Growth in 2022,...Read more