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DAV Foundation joins Mobility Open Blockchain Initiative for global transport ecosystem

A blockchain startup that is building a decentralized global network for autonomous vehicles, the DAV Foundation, has joined the Mobility Open Blockchain Initiative (MOBI), a peer-to-peer ecosystem that aims to make transportation more affordable, safer and widely available.

DAV is a blockchain-based transportation protocol that enables a decentralized, peer-to-peer, global transportation network. Supported by Fortune 500 companies and government organizations such as NASA and the Federal Aviation Administration (FAA), the company has raised over US$21m to fund its work.

Earlier this week, the DAV Foundation launched the DAV Network, which is the first open-source system for transport operating on a global scale. Based in Switzerland, the DAV Foundation’s mission is to promote and support research and development of the DAV Network, built on an open-source protocol. The organization is working with the DAV community to help build a new way of transporting goods and people around the globe using blockchain technology.

MOBI is the consortium for blockchain innovation in the mobility industry that includes Renault, Ford, GM, BMW, and other organizations that together account for over 70% of global vehicle production by market share. MOBI members include auto makers, public transportation providers, energy companies, insurance firms, and regulatory bodies across the world. By joining MOBI, DAV aims to make transportation more affordable, safer and widely available.

Blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data, and forms an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.

Blockchain technology is playing an important part in the development of autonomous vehicles’ ecosystems. The partnership between the DAV Network and MOBI will help unite and decentralize every element across both networks, including car and ridesharing, charging stations, autonomous payments, pay-as-you-use insurance, and taxes. All these aspects will be governed by smart contracts that are secured on the blockchain. As service providers on the DAV Network do not require any prior commercial arrangements between each other, it makes an ideal addition to the MOBI consortium.

“MOBI and the companies that are part of the consortium share the same goals as us,” explained Tal Ater, CTO and co-founder of the DAV Foundation. “It’s about companies working together over trustless platforms, because decentralization is the key to the future of transportation, globally. MOBI has a fantastic network covering a range of expertise that is going to make this a reality.”

Chris Ballinger, CEO of MOBI, commented, “Our approach is open and inclusive and we welcome stakeholders from across the mobility value chain to help build our network. We want to inspire a rapid and scalable adoption of technologies by companies in the autonomous and mobility space, and the partnership with the DAV Foundation will help drive this.”

July 6, 2018

Written by Adam Frost

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