Automotive companies General Motors, BMW, Ford and Renault are joining forces to create a blockchain technology group. MOBI — the Mobility Open Blockchain Initiative — launched today with more than 30 founding members. The group wants to make transportation ““safer, more affordable, and more widely accessible using blockchain technology.”
Blockchain technology has the undoubted potential to impact a range of industries. The distributed ledger component and smart contracts, in particular, could reshape the way organizations and products use and consume data. Along those lines, MOBI said its scope of focus varies from payments, data tracking, and supply management, to consumer finance and pricing, and more futuristic areas like autonomous vehicles and ride-sharing systems.
Blockchain and related trust enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles
– Chris Ballinger, CEO_ MOBI
By bringing together automakers, suppliers, startups, and government agencies, the process of adoption can be accelerated for the benefit of businesses, consumers and communities. Members of the organization’s board include Joseph Lubin, founder of ConsenSys and a co-founder of Ethereum, and Brian Behlendorf, executive director of Hyperledger.