Vehicle identification blockchain being tested by major carmakers
BMW, Ford, Renault, Honda and General Motors to start testing vehicle identification system
Five major carmakers working for the Mobility Open Blockchain Initiative (BMW, Ford Motor Co., Renault SA, Honda Motor Co. Ltd., and General Motors Co.) are working on the development and integration of a blockchain-based vehicle identification system. The first trials of the project will start next month, in November.
MOBI’s members range from carmakers to energy, mobility and infrastructure providers. It’s a non-profit group of companies working towards the adoption of blockchain, DLT, and similar technologies in the mobility industry for a common benefit.
Chris Ballinger, founder and chief executive of the association, said: “A blockchain identity standard could enable a diverse suite of mobility applications that result in more efficient supply-chains, lower-cost financing, and safer roads. We hope these standards will ultimately make urban environments greener, safer and more liveable by enabling usage-based payment for congestion, pollution and infrastructure.”
This new project adds up to their previous one, VID, already launched months ago. Thanks to this system, a unique digital ID would be assigned to each and every vehicle, making it possible to track information like ownership history or vehicle data from the moment it comes out of the factory. VID could also potentially save the information of every vehicle’s maintenance history.
With the latest advances that MOBI has been working on, this same ID will make more information accessible. Furthermore, it would also make it possible to link each vehicle to a wallet that would allow to pay a variety of fees such as parking tickets or tolls automatically without the requirement of any additional systems. They are also looking towards the possibility of establishing a standard that allows operability across different blockchains with the same vehicle identification format.
Hyundai Motor Group, State Farm Mutual Automobile Insurance Co., Mercedes-Benz or Tata Motors are other major automobile manufacturers that are exploring the possible uses and solutions that blockchain and digital ledger technologies may offer to the mobility sector in the future.
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