Major Automotive Companies Talk Blockchain Standardization

Major Automotive Companies Talk Blockchain Standardization

Car manufacturing giants like BMW, GM, and Ford came together to discuss instituting blockchain standardization measures in the automotive industry at the first European colloquium of the Mobility Open Blockchain Initiative (MOBI). If blockchain tech continues to break into the mainstream, such standardization efforts will only grow in the years ahead. 

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Automotive Titans Delving Deeper Into Blockchain

This week, MOBI, an automotive-focused blockchain research group, kicked off its first European conference at BMW’s Group IT Centre in Munich. Hosted by BMW Group, the two-day event brought all MOBI members under a single roof to explore distributed ledgers. 

At the top of the colloquium’s agenda was to develop a framework for fostering blockchain standardization measures in the industry.

Will the automotive industry be one of the first mainstream sectors to widely embrace blockchain?

Participants in the conference spanned car manufacturers, blockchain companies, and government agencies. Some of the more recognizable MOBI members present included teams from IBM, Ford, Renault, Hyperledger, and IOTA.

MOBI itself launched last May as a collaborative effort to harness blockchain use to make the transportation sector safer, more efficient, and more flexible. 

“We are convinced […] that blockchains represent a real opportunity and will eventually break up the established, centralized market by making it possible to create more decentralized platforms and so give consumers more control over their data,” BMW Group blockchain lead Andre Luckow said as the conference was kicking off. 

As Experiments Proliferate, Time to Coordinate

As many major automotive industry players have begun delving into blockchain from various angles, a lack of coordination could lead to a lack of innovation.

Accordingly, MOBI’s blockchain standardization efforts are likely just a hint of what’s to come as other industries beyond transportation continue to make their own blockchain adoption forays.

But MOBI certainly has a full plate, as blockchain forays in the automotive sector are plentiful for now.

For example, General Motors has partnered with crypto startup Spring Labs to leverage blockchain tech for data management. In another effort, IBM teamed up with South Korean automaker Hyundai to use the tech for supply chain management. And auto giant Ford recently partnered with IBM on a blockchain pilot aimed at delivering more transparency in the cobalt mining industry.

The ensuing MOBI-driven coordination on standards and practices may lead to the automotive industry being one of the first mainstream sectors to widely embrace blockchain. And others will surely follow suit with their own standardization initiatives if that happens.

What’s your take? Will blockchain standardization become a huge topic over the next decade? Let us know in the comments section below. 

Images via Pixabay

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