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Four giant car makers have joined forces to launch the largest blockchain consortium in the automotive industry.

The announcement was made on Tuesday, 1st May 2018. BMW, Ford, General Motors, and Renaults are the ones who launched the Mobility Open Blockchain Initiative (MOBI). Also, the new consortium could not be released without the following giants: Bosch, ZF, Accenture, IBM, Consensys, and Hyperledger.

IBM and ZF have been involved before in the blockchain tech implementation within the automotive sector, testing a “crypto car wallet” in 2017. However, the new consortium can be characterized by a wider range of members, as well as more extravagant projects to be launched.

MOBI will be based on the same principle as the IBM-tested project. The Consortium aims to provide the opportunity to make payments and transfer data between vehicles.

Asked by CoinDesk, Chris Ballinger, the CEO of MOBI said that “You really have to have common standards and common ways for cars to communicate, to identify themselves and make payments.”

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

Chris Ballinger is a former employee at the Toyota Research Institute. His company was the only carmaker to plan to develop a blockchain-based proof-of-concept startups.

MOBI plans to reinvest the benefits to improve the road safety

MOBI consortium becomes the latest project to coordinate the process of making information transfers between cars, offering blockchain technology as a base.

The car is already an important element for major projects of giants such as Apple, Google and Amazon. MOBI wants to offer a new decentralized instrument. The consortium plans to use the benefits of a blockchain-based project to improve the traffic safety system.

Everybody wants that data. Apple has their car play, Amazon is putting Alexa in the car, Microsoft Azure has their car system, Google’s got theirs. The car is the fourth screen and the next big data battleground. It’s a trillion-dollar prize,” told Ballinger.

MOBI’s plans are bigger than those that have been done so far in the automotive sector. Thus, MOBI becomes the bigger car makers blockchain-base consortium in the world.

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