A congestion free future will require blockchain

The challenge has been set by the Mobility Open Blockchain Initiative together with the Trusted IoT Alliance, according to EE News Europe. This takes the form of the MOBI Grand Challenge. The remit for startups is to unlock a range of new and potentially useful blockchain-connected autonomous vehicle solutions.

The ultimate aim of the challenge is to develop ways to create safe and congestion free transportation processes. The remit is to achieve this by using V2X communication supported by a blockchain-secured data exchange protocol.

Given the complexities involved, the Mobility Open Blockchain Initiative Grand Challenge will run over a three-year period, although this will be staged across several milestones. The challenge began on October 12, 2018 in the form of a four-month scoping event where the possibilities of blockchain solutions are showcased, centering on coordinated vehicle movement and means to improve transportation in urban environments.

It is estimated that in the typical city environment, a driver will spend 40 hours per year in traffic congestion. In some of the worst areas, like Los Angeles, a driver will spend in excess of 100 hours idling away in traffic jams.

The first stage culminates with a public show of the best technologies at a festival which will be hosted by the BMW Group (a Mobility Open Blockchain Initiative community member) in Munich, Germany. This event takes place on February 15, 2019.

For the startups, Ocean Protocol, which operates a blockchain enabled data exchange protocol, has put-up $100,000 worth of token prizes. This backing will assist with data sharing between developers and be used to support artificial intelligence specialists.

In addition, another firm – U.S. based Beyond Protocol (who create the new internet and the ethical language of machines) -will provide $250,000 worth of tokens which can be used on its own network.

According to Zaki Manian, Executive Director of the Trusted IoT Alliance: “Only a small percentage of companies have completed end-to-end proof of concepts in this area and our intent is to fill this gap. With this collaboration, we will further the viability of applications of blockchain for smart contract enabled IoT devices.”

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Published on: 2018-10-21 17:55:09

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