ZF, a global leader in driveline and chassis technology, has joined the recently established Mobility Open Blockchain Initiative (MOBI).
ZF joins as a founding member.
MOBI is a group of leading automotive and technology organisations that wish to establish a unified blockchain network for secure, peer-to-peer blockchain technologies which make mobility more efficient, affordable and safe.
Blockchain technology, the cryptographic, manipulation-resistant and decentralised transaction of data, provides a safe medium for mobility applications of the future.
It can help prevent hackers from accessing and capturing the transmission of sensitive data, and allow vehicle and infrastructure software to be more securely protected from cyber-attacks.
With no universal standard for blockchain technology, MOBI’s aim is to establish new interoperability standards for blockchain applications and to build an open multi-sided marketplace that covers all forms of mobility.
ZF has already developed blockchain technology-based mobility applications.
Its Car eWallet technology allows vehicles to interact with other machines for technical services and small financial transactions related to mobility services.
These include:
- parking,
- motorway or bridge tolls,
- and electric charging of vehicles.
Arwed Niestroj, vice president, Global Innovation Hubs and Digital Transformation at ZF said:
“As for a global leader in automotive technology, ZF constantly strives to make mobility more efficient and convenient.
“With the Mobility Open Blockchain Initiative, we can provide benefits to our customers by developing secure and efficient solutions for the future of autonomous mobility.”
What would a standardised blockchain network contribute to the mobility industry?
- Blockchain technology would allow cars, infrastructure and service providers to efficiently communicate and transact directly with each other
- Support digital currency payments from car-to-car, tax authorities, cloud services and so on
- Contracts and logic can be distributed to the vehicle or infrastructure and executed locally instead of centrally. This eliminates the complexity and dependency associated with remotely connecting multiple, often proprietary technologies and services together.
- The ability to safely store relevant data within the vehicle, providing valuable control, access, and insights related to mobility information as the industry shifts to more autonomous, shared services
- Help prevent fraud, manipulation or cyber attacks.
MOBI says that by working together to set mobility blockchain standards, the automotive industry will be able to accelerate the creation of a better, more secure, interoperable, and high-value marketplace. Over time, the alliance seeks to address not only the needs of privately owned cars and motorcycles, but also public transportation and emerging ride sharing services, thereby helping to reduce congestion and pollution.
