Blockchain: The Biggest Carmakers Are Joining The Revolution

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The MOBI Consortium

The world’s largest automotive Blockchain specific consortium has just been set up by BMW, Ford, General Motors and Renault in a bid to introduce Blockchain to the industry. This accounts for 70% of the world’s car production companies. The team is working with technology providers and startups to ensure they bring on board the very best of knowledge and expertise to take the car manufacturing industry to the next level.

The project titled the Mobility Open Blockchain Initiative (MOBI) will not only include the car giants already listed but will also see the likes of Bosch, ZF, IBM, Accenture, Consensys and Hyperledger join forces. This group will support private and public Blockchains, which is refreshing to see. The car industry is very much in need of a decentralized network – it has been for a while – and the consortium aims to develop APIs that allow payments and data sharing across the board. The outcome will be all-encompassing and will cover ride sharing as well as self-driving vehicles and every other option available in the car industry. The group are all in agreement that by developing this consortium and working together, the overall industry car wallets will be a lot more robust and cost-effective than if each car company researched into and produced their own car wallets. The consortium will also ensure that all car manufacturers are able to use the end result and the knowledge will be easily transferable.

The Way Forward

The first steps will involve putting together small working groups to specialize in projects such as vehicle identity; ride sharing etc. Once this stage has been completed, Blockchain can then be used to harness and develop data property rights from the high amount of information provided by cars. These details can then be shared and used by each car manufacturer to improve self-driving cars. The data will provide fundamental statistics for the development of this next generation of vehicle.

Industry experts are suggesting that there are over 25 GB of data per hour provided by cars, which offers a multitude of insight into cars and how they are running. However, as technology improves the amount of information available is going to increase dramatically. This in itself will lead to an issue of how to capture the expected increased that 5G networks may well not be able to deal with.

Those in the know, fully expect cars to be able to manage remote light detection, real-time weather sensors as well as real-time mapping. The latter of which could actually enable a robot to make deliveries to the front door of the customer. This could also extend to cars dealing with pollution and managing energy that is used.

What is clear about the future of car manufacturing is that Blockchain can really help it to move forward into the next stage of evolution. The public can look forward to enjoying better road safety as well as clearer roads with less traffic queues.

Kinsley Moore

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Kinsley Moore

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