Honda & GM Led Group, MOBI, Launches Electrical Vehicle Charging Standard on Blockchain

The Mobility Open Blockchain Initiative (MOBI), a working group comprising top firms such as GM, Honda, and PG&E, announced the world’s first distributed ledger incorporated on a decentralized vehicle charging system. The member-led Electrical Vehicle Grid Integration (EVGI) standard aims to enable applications built on the standard to reduce carbon emissions, reduce traffic congestion, and tackle energy and climate challenges.

According to a published post on Oct. 6, the EVGI working group standard will cover three main objectives and use case areas – “Vehicle to Grid Integration (V2G), Tokenized Carbon Credits (TCC), and Peer to Peer (P2P) applications.”

Despite the growing support for green energy from solar and wind, the excess energy storage complications have always been a problem. However, electric vehicles allow sufficient energy storage, which could store the excess green energy. The standard aims to help develop and use relevant information and data on blockchain-based applications to benefit the electric vehicle and charging ecosystem.

Speaking on the benefits of the EVGI standard, Tram Vo, MOBI’s COO, and Founder said,

“Electric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger.”

The EVGI Standard will provide the core decentralized network data services offering electrical vehicle owners significant value in charging infrastructure and grid operators. The building of the blockchain will increase the transparency, peer-to-peer connection, and immutability of data record-keeping, the statement reads.

The MOBI Working group is formed by some of the top traditional and blockchain-based firms dealing with mobility and energy. The EVGI Working group launched this year in May, chaired by GM and Honda with support from R3, IOTA Foundation, Pacific Gas & Electric Company (PG&E), and Politecnico di Torino.

The energy distribution is gradually switching from the centralized power grids to a “more decentralized and volatile power generation,” Christian Köbel, Senior Project Engineer at Honda R&D Europe, said in a statement to BEG. In respect to this, building the EVGI standard is set to leverage blockchain’s decentralization and P2P interaction to build more energy-efficient solutions. Christian further said,

“The goal is to enable scalable, user-centric energy communities. The EVGI Standard represents one of the first essential building blocks for founding such an ecosystem.”

Once implemented fully, the standard will provide increased data privacy, transparency, and security on the electric vehicle charging ecosystem. Additionally, the standard aims to improve trust, coordination, and automation between mobile service providers, drivers, and regulators.

Praising the MOBI EVGI standard, Mathew Yarger, Head of Mobility and Automotive at the IOTA Foundation said,

“The work done by MOBI and the EVGI working group is a promising step, laying a strong foundation for the intersecting industries to align around and build on to accelerate the future of sustainable mobility and energy.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide