Car-Chain Coalition: Major Car Manufacturers Band Together On Blockchain

As technology, from spacefaring rockets to the phones we carry, becomes smarter, so too must everything else. We currently see this with the cities we live in; as the likes of blockchain streamline previously unwieldy aspects. We have the same thing with currencies; with cryptocurrencies integrating communities together in spite of borders.

On the streets, the same thing is happening, with cars linking together to create smarter roads and counter the traffic nightmares of commuting. We’ve seen examples of this with Tesla onboard computers and DOVU‘s car peer-to-peer network. These innovative steps showcase the future role of cars on city streets and at their owner’s service.

Recently, we reported on the creation of a Smart Cities Forum, allowing cities to share innovative technology with developing urban centres. It’s now that we see the same thing happening between car companies.

The MOBI Chain – Cars on the Blockchain

Car companies, including BMW, Ford, Renault and General Motors have come together to form a new initiative. Referred to as the Mobility Open Blockchain Initiative (MOBI), with the desire to apply the technology to the broader field. This coalition of companies would mean an open sharing platform for innovation to be proposed and developed across them.

As the founder of MOBI, Chris Ballinger, mentions, blockchain symbolises a tech singularity for cars. With any attempt to develop a self-contained system resulting in drivers in an ivory tower, unable to communicate with others freely.

“But if each auto company is trying to develop its car wallets or its way of paying tolls, or providing a ride-sharing service, it just doesn’t work; it’s the Tower of Babel.”

The initiative includes not just car manufacturers, but also transnational companies that provide components. Allowing them to propose, implement and apply new technology which works in concert with a wider fleet of vehicles.

Data explosion for Cars

One of the reasons for the formation of MOBI is that a data explosion is coming for vehicles, according to its founder. Cars connected by data-sharing are capable of producing up to 25 gigabytes of data which is then sent. But as these cars become increasingly sophisticated, this amount and frequency of data will explode.

This data explosion is one of the reasons for the application of Distributed Ledger Technology to streamline the introduction of sophisticated systems.