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    MOBI Grand Challenge to Get $1 Million from Ocean Protocol for Blockchain-Automobile Integration

    The Mobility Open Blockchain Initiative (MOBI) is set to receive $1 million worth of funds as support from Ocean Protocol. This follows an announcement by the Ocean Protocol founder, Bruce Pon, where he made their support for the up-coming MOBI Grand challenge official.

    A few days ago, MOBI made an announcement on the commencing of its pioneer phase for the blockchain-automobile oriented challenge. In doing so, the firm hopes to leverage the features of blockchain tech to enhance the coordination of vehicles in urban spaces as well as other areas of transport. MOBI is prospective that it will have made progress in this sector within the four-month-period in which the challenge will be held.

    MOBI’s initiative has being supported by key players in the automobile industry. So far, the likes of Ford, Renault & BMW are among the companies that have shown interest in this eco-friendly development. This comes as a big boost for the project given that many blockchain start-ups are struggling to acquire strategic partnerships.

    The $1 million funding committed by Ocean Protocol will significantly facilitate MOBI’s activities for the next three years. Basically, these proceeds will be resourceful is securing data to improve the vehicle coordination tech progress while linking autonomous vehicles with the innovation as well.

    Scheduled for 12th October, 2018 to 15th February, 2019, MOBI’s Grand challenge will host a series of events within this time frame. The final event of this challenge is set to be held in Germany; MOBI & BMW are among the major organizers.

    Participants who win the pioneer Grand Challenge tournament will be rewarded Ocean tokens worth $100,000. Furthermore, an extra $900,000 set aside to facilitate the event winners for a period of three years.

    Ocean Protocol’s founder, Daryl Arnold, said that his firm is optimistic on their move to support MOBI’s initiative;

    “We are proud to partner MOBI and sponsor the three-year series of challenges as we believe in an autonomous future. In order for autonomous vehicles to thrive, access is required to a vast and diverse ecosystem of data assets and services, much of which today is locked up in silos. Through blockchain technology, Ocean provides an infrastructure for data providers and related services to build on, enabling data to be shared and traded in a trusted, secure and transparent manner, while retaining privacy rights. Our mission is to unlock data, particularly for AI, and build a new data economy.”

    MOBI’s goals alignment with those of Ocean Protocol & Trusted IoT Alliance has been a big factor in this collaboration. Basically, MOBI’s challenge is geared towards creating an ecosystem where the community can interact & access data which might be useful in solving the blockchain-automobile inefficiencies. If successful, this initiative will greatly improve the future of transportation in most aspects notably being accident reduction, traffic decongestion & easy flow of commodities.

    MOBI MGC in Detail

    The MOBI Grand Challenge copies a model that was used in the DARPA Grand Challenge back in 2004. This tournament involved the testing of robot-built cars navigation across Mojave Desert. Despite a massive fail record, this initiative set pace for similar projects which focused on improving the previous vehicle models. Barely two years later, a similar test recorded far much better results with a good number of participants completing the Desert journey.

    This challenge will be virtually facilitated while it welcomes interested participants from all parts of the world. MOBI has detailed more on this soon to commence event in its website, mobihacks.devpost.com. The firm will be assisted by Blockchain Society (TBS) to organize a successful tournament given the experience of TBS in the blockchain adoption arena.

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    Bitcoin Exchange Guide News Team
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