The network joins organisations such as BMW, ConsenSys, the World Economic Forum and a number of global brands
The geospatial, blockchain-powered location network, XYO, has joined the Mobility Open Blockchain Initiative (MOBI). The latter is a global consortium of brands and businesses dedicated to bringing innovation to the transportation industry through blockchain.
XYO Network joins BMW, ConsenSys, the World Economic Forum and other global brands to collectively make mobility of the future greener, safer and more accessible.
“There have never been more exciting mobility use cases around blockchain, and MOBI’s mission epitomises what the future of blockchain is all about,” said Markus Levin, XYO’s co-founder.
“Their members are known for both innovation and accelerating the adoption of new transportation technology, which is exactly why we joined their cutting-edge consortium. We look forward to playing an active role in deciding the standards of the future.”
XYO Network uses crypto-location technology that not only protects privacy but provides greater accuracy of where objects are both in relation to other objects, and their global location. Its ecosystem delivers the authentic, verifiable and trusted coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a range of location-centric applications. XYO can deliver complex, multi-layered, 3D-level location data from anywhere around the world.
Possible use-cases with MOBI could include driverless cars that use the XYO Network to “see” each other, or vehicles that use XYO data to navigate traffic at busy intersections. With its next generation of GPS functionality, the XYO Network can power everything from automated parking payments to smart contracts to any number of mobility applications.
Founded in May this year, MOBI is working with top global partners on creating a secure, commerce-focused mobility ecosystem used for trusted vehicle identity and tracking, carbon pricing, usage-based insurance, and more.
“Multi-party cooperation is critical to the new era of blockchain development,” added Levin. “We look forward to being part of the decision-making process as we come together to address common industry and technology challenges, create solutions that scale, and collaboratively speed up the adoption of blockchain technology in the transportation world.”
Survey: Blockchain for smarter cities: Where’s the action?
SmartCitiesWorld is undertaking a global survey which looks at the level of understanding around blockchain and the impact it can have on creating smarter cities. We would love to hear from you.
Take the survey
We’ll present the results at our blockchain event in London on September 12. There will also be a keynote presentation, panel debate and roundtable discussions. Register now.