Home / Crypto Currency / VINchain Joins Ford, BMW, GM and Renault As Some of the Big Names to Connect with MOBI

VINchain Joins Ford, BMW, GM and Renault As Some of the Big Names to Connect with MOBI

VINchain has become a new partner of the industrial consortium MOBI, which is creating a new mobile ecosystem based on the distributed registry.

MOBI is the most significant joint venture in the automotive industry. The Mobility Open Blockchain Initiative includes more than 30 founding members, including Bosch, Blockchain at Berkeley, Hyperledger, Fetch.ai, IBM, and IOTA.

A New Digital Mobility Ecosystem

The group has a rather broad goal – to make transportation “safer, more convenient and more accessible with the use of blockchain technology.”

Blockchain has an undoubted potential for impact on many industries.

In particular, the distributed registry component and smart contracts can change the way of using data and consumed by organizations and products.

At the same time, MOBI stated that its focus varies from payments, data tracking, and supply management, to consumer finance and pricing, and a vast number of more futuristic areas such as autonomous vehicles and travel distribution systems. This is not the first time that automobile companies have been studying the use of a detachment. Toyota previously conducted its own research, Renault joined the research consortium R3, and Daimler is part of the Hyperledger project from the Linux Foundation.

The main activities of MOBI include the development of common DLT standards, design work, and the creation of open source software tools. In general, the consortium will be engaged in the implementation of blockchain in automotive systems for “maintaining driving statistics, managing transaction transactions and storing information about the characteristics and use of vehicles.”

It looks to be a promising venture given that so many big names already on board. It will be interesting to see how the project develops and the impact that this will have on the automotive industry as a whole.

What’s next? Why this is amazing for us?

VINchain’s fundamental goals are:

1) Creation of a vast protected database;

2) Association of manufacturers, dealers, insurers, SRT, and electronics developers into a single ecosystem with a database;

3) Creation of an infrastructure to provide open access to the database for each car and the creation of a fundamentally new – transparent market for used cars.

This will allow you to be confident in your purchases and improve the mechanism for setting prices because every car will know absolutely everything and each will be configured at a fair price.

Thus, life will be the better for all those who are selling honestly, and there will be no deceivers in this market at all, as there will be no opportunity to deceive.

As a member of MOBI, we are glad to be among such great companies with well-spread names as BMW, BOSCH, Ford, RENAULT as well as many others. The connections that MOBI facilitates are invaluable, and we are a mile away from forming partnerships with those companies as well.

Partnership with MOBI will create transparency and trust among users, reduce the risk of fraud and reduce disagreements and transaction costs, such as fees or allowances used by third parties.

VINchain is thrilled about such a valuable partnership, and we will continue working together for better future!

Stay Up to Date:

Join our announcement group


to stay up to date on all news and developments.

Join the conversation on social media:

Telegram https://t.me/vinchainio

Twitter https://twitter.com/VINChain_io

Facebook https://www.facebook.com/vinchainio

Blogspot https://vinchain.blogspot.com.by

Medium https://medium.com/@VINChain

Bitcointalk https://bitcointalk.org/index.php?topic=2349186.0

Github https://github.com/VINChain

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Read more

Check Also

Bitcoin Price Watch: Currency Briefly Falls Below the $6,000 Mark Before Recovering

At press time, the father of cryptocurrency is trading for just over $6,000. This is about $200 less than where it stood during yesterday’s afternoon hours. The coin is continuing to fall deeper and deeper into red territory, though this price is an improvement over where it stood during the early morning, when it fell below $6,000. The currency is now just a few steps above its lowest point of the year, which it hit on June 18 with a price of just over $5,770. The cryptocurrency market cap has shed approximately $21 billion off its back in the last 24 hours, and it appears the crypto space is being targeted by massive sell-offs. In other words, bitcoin is not alone in its present state. The currency is struggling to maintain its position on the financial ladder, yet it’s still doing relatively well in comparison with entities like Ethereum, which has fallen below the $300 mark – the lowest it’s been all year. Also, Ripple – the third-largest cryptocurrency by market cap – has also fallen by roughly 14 percent. Charles Hayter, CEO of CryptoCompare, is blaming the SEC’s decision to postpone any action towards the bitcoin ETF submitted by VanEck SolidX. “This has snowballed negative investor sentiment,” he explains. Some, however, are refusing to give in to all the hype and say that bitcoin still has the power to unite cryptocurrencies across the board. One Reddit user for example, recently posted his thoughts regarding the recent sell-off. “Am I selling now?” he asks defiantly. “No way. Why not? Because bitcoin is not broken. Nothing bad happened to bitcoin. It still works. Will there be bumps along the way? What do you think we’re experiencing now? Some of [you]get to decide: are you going to be a coward or not?” Hayter further commented that the bitcoin arena is only going through ups and downs because it is still a developing market; that it holds a strong position in the financial infrastructure, but needs more time to mature: “Bitcoin and its ilk are opening up a new arena of finance. The hope and speculation that gripped the market last year has been eroded in the last few months. That said, under the hood, a lot of work has been moving ahead to form the routes to incumbent institutions and to provide them with the tools, mechanisms and assurance they need for entering the cryptocurrency space. It’s only a matter of time before the crypto sphere becomes part of the mainstream, but it needs to do a lot of growing up in the process.” Bitcoin Charts by TradingView

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.