BMW to Back Blockchain Event at Auto Tech Tournament

1016 Total Views

As per the official press release, the Mobility Open Blockchain Initiative (MOBI), and the started a tournament for blockchain application in vehicles.

The news tournament entitled MOBI Grand Challenge reportedly aims to create ‘the first viable’ blockchain-backed network of vehicles and system to coordinate machines, provide data sharing, and to enhance the level of mobility in urban conditions.

The three-year blockchain challenge, which intends to award winners with 1$ million dollars worth of tokens, will cover various events, and invite entrants to participate online globally.

The Challenge will start on 12th October with the initial four-month challenge to showcase “possible uses of blockchain tech in coordinating vehicle movement and enhancing transportation in urban environments.”

Selected technologies from the original challenge will be shown at an event in Munich, Germany hosted by MOBI community member BMW Group in February 2019.

The result found in the initial series of the MOBI Grand Challenge will be used as a basis to plan the next challenges of the three-year tournament.

As per the Press Release, the winner of the first challenge will be given $350,000 worth of awards in many categories, including $250,000 worth of token by beyond Protocol and $100,000 worth of tokens by Ocean Protocol.

Executive Director of the Trusted IoT Alliance and a member of MOBI’s Board of Advisors, Mr. Zaki Manian, said that mobility is a ‘breakout’ IoT industry direction for blockchain. As per Mr. Zaki Manian, just a small percentage of companies have achieved end-to-end proof of concepts in this area,” so the new tournament aims to “fill this gap.”

In May 2018, four leading global vehicle suppliers BMW, Renault, Ford, and GM started a jointed blockchain platform intending to ‘change transportation.’ The joint effort tries to address mobility issues, making it “safer, greener, and more affordable” by implementing blockchain technology.