Leading Car Manufactures to Contribute in Adoption of Blockchain

World’s largest auto-making companies came together in a new group which is actively working towards bringing blockchain technology into the auto industry. BMW, Ford, Renault and General Motors are just the four top automakers and leading companies among the impressive list of 30 other top corporations that currently are the members of Mobility Open Blockchain Initiative (MOBI) which took the important initiation. The members of this project also include such leading companies as IBM, Bosch, Berkeley and many more.

According to the official reports by MOBI, the main mission of the new working group is speeding up the adoption process of blockchain technology in the important industries. It also aims on making sure that these industries accordingly correspond with the new technology with their levels of readiness to adopt them.

Founder and CEO of the digital asset investment firm BKCM, Brian Kelly recently noted the importance of the initiative stating that the new technology has the potential “to disrupt the growth plans of legacy tech into the auto”. Kelly also added that due to the efforts of MOBI all the customer data will be self-sovereign and hence customers will get the opportunity to have the control over their data and property rights.

The head of the new working group MOBI is Chris Ballinger who is a true car industry veteran. Ballinger was the CFO and head of mobility services at Toyota Research Institute. As reported, he left his position at the Institute last month and joined MOBI.

According to the field experts, this initiation is an important step towards adopting and integrating the new technology of blockchain in the auto industry. Also considering the big names of the members of MOBI, a great impact of the project and accordingly involved objectives is expected.

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