The Mobility Open Blockchain Initiative (MOBI) and the Trusted IoT Alliance (TIoTA) have initiated a development tournament for blockchain applications in vehicles.
The new tournament named MOBI Grand Challenge is trying to develop the first viable blockchain-powered network of vehicles and system to connect to machines, offer data sharing and boost the level of mobility in urban conditions. The MOBI Grand Challenge starts today, October 12, with the first 4 month challenge to display potential uses of blockchain in vehicle movement and improving transportation in urban settings.
Chosen technologies among the first challenges will be demonstrated at an event organized by MOBI community member BMW Group in Munich the beginning of next year. The outcomes from the first session will be applied as the basis to construct the next challenges of the ‘three-year tournament’. The three-year blockchain challenge, plans to award winners with over $1 million dollars worth of tokens which can cover numerous events and invited entrants to participate online internationally. The winners of the first challenge will received $350,000 worth of awards including $250,000 worth of tokens by Beyond Protocol and $100,000 worth of tokens by Ocean Protocol.
Ocean Protocol is a blockchain-based data exchange protocol which holds a prize of $1 million dollars in tokens to the MOBI Grand Challenge. Beyond Protocol is a Silicon Valley-based firm with distributed ledger technology (DLT) to secure Internet of Things (IoT) devices. The company has put $250,000 worth of tokens to be utilized on its protocol network.
Zaki Manian, the executive director of the TIoTA and a member of MOBI’s Board of Advisors, mentioned that the approach is sensational in the IoT industry. He added that the new tournament will fill up the gap with the slight completion of end-to-end proof of concepts in this field.
In May 2018, four leading global vehicle suppliers: BMW, GM, Ford and Renault came up with a jointed blockchain blockchain with the aim of “change transportation” which will bring safer, greener and more affordable transports with blockchain technology. In March, Ford patented a system for vehicle-to-vehicle communication methods through crypto exchanges in the traffic flow.
Author: Jieun Lee