Back

MOBI Auto Tournament Offers Over $1M Worth of Crypto Prize

A tournament issued by the Mobility Open Blockchain Initiative aims to facilitate the exploration of future vehicle communication and cooperation using blockchain technology in the setting of futuristic smart cities. The MOBI challenge covering a timeframe of four months will begin on the 12th of October. The event will begin next Friday in Germany with a demonstration held by the BMW Group displaying winner level technology.


 
Winners will be awarded cryptocurrency tokens that will help facilitate the future of mobility and information sharing in a network called Ocean Protocol. This platform operates on blockchain tech utilized for the exchange of data and has donated tokens worth $1 million for the prize. Beyond Protocol, a DLT company. has also donated $250,000 worth as part of the major prize.  

The MOBI network continues to grow since first established in May 2018 with more members joining from a variety of sectors including startups, car manufacturers, and OEMs. The company’s Chief Executive Officer, Chris Ballinger, told CoinDesk he was pleased to announce the successful signing of another member joining the group, R3 consortium.

Ballinger also offered a comment pertaining to the upcoming competition explaining that it would be similar to a mix of the XPRIZE and the robotic challenge known as DARPA Grand Challenge. He stated that the group is aware that these technologies are still very underdeveloped and that no one is expected to perform miracles however within several years these ideas will be made a reality.

Vehicle Wireless Data Transfer

As topics such as digital wallets and micropayments began to emerge, developers theorized that vehicles might one day have the ability to issue payments in order to receive priority travel, for reasons such as making it to a destination such as an airport on time. Ballinger certainly has faith that the concept of micropayments will enable cars to perform such actions in addition to much more. He believes that the transfer of data could help improve driving safety and possible help solve issues such as congestion and traffic jams.    

He explained that the greater concept behind the challenge and developmental initiatives is discovering a way to connect both vehicles and the infrastructure that surrounds them in addition to other cars in their vicinity through the use of ad hoc platforms that share information and transact payments. In this sense, cars would have the ability to see beyond traffic or corners as he described them, negotiating an individual's right of way or resulting in the minute adjustments of travel speed helping avoid what could have been a major accident. 

The Chief Executive Officer of partner Beyond Protocol explained that their development team has been working on projects involving vehicles that posses self-driving technology operated by electricity. The project aims to design cars that have the ability to recharge other vehicles via built-in digital wallet technology. He explained their vision aims to take today's mode of refilling gas and evolve this concept to equipping cars with the ability to wirelessly recharge one another. A futuristic concept for most however with projects already underway, these visions may quickly become a reality in the next few years.




1 year ago

Start Weekly Digest

Similar news