CarBlock Joins Consortium to Explore Blockchain Technology for New Mobility Ecosystem

Partners To Foster A Digital Environment Where Users – Both Businesses And Consumers – May Securely Record Driving Data, Manage Ride-Share And Car-Share Transactions, And Store Vehicle Identity And Usage Information

CarBlock, the world’s first blockchain-based transportation solution built on data generated by smart devices announced today that it has joined MOBI, the Mobility Open Blockchain Initiative, to explore blockchain and distributed ledger technology (DLT) for use in the development of a digital mobility ecosystem that could make transportation safer, more affordable, and more widely available. CarBlock is collaborating with the MOBI and other industry, government, and non-profit partners to foster a digital environment where users – both businesses and consumers – may securely record driving data, manage ride-share and car-share transactions, and store vehicle identity and usage information.

Blockchain technology sends information over a network of independent computers, known as a distributed ledger, intended to ensure that transactions are secure and data privacy, ownership rights, and integrity are protected. CarBlock and partners believe that blockchain technology may create transparency and trust among users, reduce risk of fraud, and reduce frictions and transaction costs in mobility, such as fees or surcharges applied by third parties.

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“We believe in MOBI and its broad abilities to revolutionize the transportation industry. We can see its potential in a variety of use cases, including the ability to expand our own offerings and service more drivers,” said Julie Wang, Cofounder and Head of Ecosystems, CarBlock.

Through an open-source approach to software tools and standards, the MOBI consortium hopes to stimulate more rapid and scalable adoption of blockchain technology applications by other companies developing autonomous vehicle and mobility services. CarBlock is pleased to join MOBI to collaborate with global partners on the development of blockchain-enabled vehicle data and mobility services applications.

Initially, CarBlock will be working with MOBI on projects related to:

• Vehicle identity, history and data tracking
• Supply chain tracking, transparency, and efficiency
• Autonomous machine and vehicle payments
• Secure mobility ecosystem commerce
• Data markets for autonomous and human driving
• Car sharing and ride-hailing
• Usage-based mobility pricing for vehicles, insurance, energy, congestion, pollution, infrastructure, etc.

“I’m excited that MOBI is coordinating this initiative to use blockchain technology to create a more open platform where users, owners, mobility service companies, and infrastructure providers can better control and monetize their assets, including their data,” said Chris Ballinger, Chief Executive Officer of MOBI. “Our hope is that other industry stakeholders will join this effort to accelerate the adoption of this technology to create a new ecosystem of clean, safe, on-demand, reliable and affordable transportation.”

MOBI’s partners also include Bosch, GM, Ford, Renault and many others.

CarBlock and MOBI launched its partnership at a celebration at the Manhattan Classic Car Club during New York’s Blockchain week.

CarBlock is the world’s first blockchain-based transportation solution built on data generated by smart devices. This circulation of car data on the blockchain is set to disrupt the entire connected car industry.

MOBI is a newly created nonprofit foundation formed to accelerate adoption and to promote standards in blockchain, distributed ledgers, and related technologies for the benefit of the mobility industry, consumers, and communities. MOBI and our partners are creating simple, standard and digital ways of identifying cars, people, and trips, of paying for mobility services, and securely exchanging and monetizing data in ways that preserve property rights and privacy.