11 Oct 2018 Samantha McLauren
BMW Meets Blockchain in Auto Tech Tournament
The challenge is the result of the Mobility Open Blockchain Initiative (MOBI), and the Trusted IoT Alliance (TIoTA) partnership. The end solution is expected to protect the environment and provide traffic-free transportation.
Starting on the 12th of October, the first period of the challenge will finish with a public exhibition in Munich Germany on February 15, 2019, at a BMW event.
The prize pool of the MOBI Grand Challenge totals over 1 million dollars as token prizes, which will be given throughout a number of online events around the world in the next three years. The blockchain tournament will present the potential uses of the technology in correlation to vehicle movement and the advancement of urban transportation.
Two blockchain leaders provide prizes. Ocean Protocol, a blockchain-enabled data exchange, provides one million dollars worth of tokens to developers and AI specialists. c, a DLT company has spared 250,000 dollars‘ worth of tokens for the winners.
The first tournament will give winners 350,000 dollars' worth of awards presented by Beyond Protocol and Ocean Protocol. Participants will have to showcase their abilities to create blockchains and distributed consensus coordination system that is linked to each other to solve problems in the urban mobility sector such as obstacle mapping, path planning, and micropayments.
The co-founder and CEO of Beyond Protocol Jonathan Manzi announced that the MOBI Grand Challenge empowers developers in blockchain technology to participate and build the architecture. He added that the DLT creates a clear consensus and supports an efficient future.
The Executive Director of the Trusted IoT Alliance and member of MOBI‘s Board of Advisors - Zaki Manian, is confident that vehicle mobility is turning a new direction in the digital industry. The tournament is a development in that area.
The upcoming competition will build the ground for the next series of challenges. The final aim will be to develop a decentralized network of blockchain-connected vehicles and a reliable infrastructure to share data, coordinate behavior, and progress urban mobility.
Earlier in 2018, BMW, GM, Ford, and Renault got together to launch a linked blockchain platform to transform transportation and reduce mobility issues by creating a safe, eco-friendly and affordable solution.Blockchain IoT Blockchain News Blockchain technology Automotive