Blockchain, Crypto Tech

Two Automotive Giants Blending Blockchain-Tech Into Their Electric Automobile Lineup

The Mobility Open Blockchain Initiative (MOBI) has started its 1st step to a global model for blending blockchain technology into a decentralized automobile charging network.

The storage of excess energy produced by wind or solar is a significant problem for the renewable energy industry as batteries are costly. But electric vehicles already have considerable storage capacity, so there’s been a lot of work around plugging them into decentralized energy grids to store renewable energy.

MOBI’s Electric Vehicle Grid Integration (EVGI) Working Group’s first design blueprints explore to lay the foundation for decentralized charging networks that better use excess green energy, analyzing systems for “vehicle-to-grid-integration,” “tokenized carbon credits,” and “peer-to-peer applications.” MOBI founder and COO, Tram Vo, asserted that the standard would offer benefits to firms representing “all sides of the electric vehicle and charging ecosystem,” stating:

“Electric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger.”

The EVGI model is chain agnostic, seeking to ensure that “pertinent data attributes and functionalities of each use case are available for organizations to utilize in creating their own applications.

The EVGI Working Group launched in May, with top automotive companies Honda and General Motors (GM) co-chairing the organization. Distributed ledger technology firms Accenture, IBM, the IOTA Foundation, and R3, are also notable group members.

Senior project engineer at Honda R&D Europe, Christian Köbel, highlighted the “massive transition” the energy sector is currently undergoing from “centralized power generation in big power plants, towards more distributed and volatile power generation:”

“Decentralization and the concept of direct P2P interaction is set to shift a key factor in leveraging this new market and building meaningful tools for energy-conscious end customers.”

Green energy is continually rising as a major frontier for blockchain technology, with Ripple and Energy Web Foundation announcing the ‘Energy Web Zero’ protocol to decarbonize distributed ledger networks last week.

Leave a Comment

Leave a Reply