Ripple Joins Mobility Open Blockchain Initiative (MOBI) Community; Details Unclear
Ripple has become the latest firm to join the Mobility Blockchain Initiative which already boasts of many big tech and automobile firms like IBM, Accenture, Ford, BMW, Renault, General Motors, and Bosch. The news came into the public domain after the official website listed a small snippet about the blockchain firm. Although there is no official announcement from either of the firms.
Mobility Blockchain Initiative was launched in May 2018 and the main focus of the initiative is to develop real-world use cases for blockchain technology. The firm is currently looking to develop products in the automobile sector and the first project it has undertaken is to create a unique digital identity network based on blockchain for vehicles, which would save all the data of the automobile in one place. This would help in avoiding any vehicle or insurance fraud associated with the vehicle.
The initiative could really prove to be a pivotal point for the automobile industry and the use of blockchain technology in the sector since the automobile makers in the Mobility Blockchain Initiative are responsible for 70% of the worldwide vehicle production. Apart from some of the leading automobile manufacturers, the list of tech and blockchain firms is also quite impressive which include Hyperledger, IOTA and ConsenSys.
What Ripple Could Bring to The Table
Ripple has made a mark in the cross-border remittance service with its XRPLedger technology and known to offer necessary liquidity to banks and other financial institutions. The Mobility Blockchain Association could use its remittance service for the on-chain reward and transactions. While there is no official announcement on the same, but looking at the role of tech firms, and blockchain firms in the initiative Ripple could chip in with its on-chain transaction system.
MOBI is also focusing on two primary protocols to make vehicle infrastructure as well as transaction secure which are namely vehicle-to-infrastructure (V2I) and vehicle-to-vehicle (V2V) payments and communications. And this where Ripple’s XRPLedger technology can play a role to ensure these transactions are secure and instant. MOBI is targeting the 2020 end for its project launch and given the number of mainstream tech and blockchain firm joining the initiative, the firm might well be on course for the product launch on time.
IBM Could be the Infrastructure Provider For the MOBI Initiative
IBM one of the mainstream tech firms which has quickly established a name in the decentralized space for offering blockchain infrastructure for enterprise could play a similar role in the MOBI association Recently IBM was also called in to create a blockchain platform to check the authenticity of the data for Coronavirus in order to determine the real-world hotspots for the spread of the pandemic and make suitable arrangements to contain it. IBM has particularly made its name for devising blockchain solutions in the supply-chain industry.