BMW To Host Event For Blockchain In Auto Tech Tournament
The Mobility Open Blockchain Initiative (MOBI), and the Trusted IoT Alliance (TIoTA) have launched a tournament for blockchain applications in vehicles, according to an official press release. The new tournament entitled MOBI Grand Challenge reportedly intends to develop “the first viable” blockchain-powered network of vehicles and system to coordinate machines, provide data sharing, as well as to improve the level of mobility in urban conditions.
The three-year blockchain challenge, which plans to award winners with over $1 million dollars worth of tokens, will cover a number of events, and invites entrants to participate online globally. The MOBI Grand Challenge will begin Oct. 12 with the first four-month challenge to showcase “potential uses of blockchain in coordinating vehicle movement and improving transportation in urban environments.”
Selected technologies from the first challenge will be demonstrated at an event hosted by MOBI community member BMW Group in Munich, Germany in February 2019. The outcomes found in the first series of the MOBI Grand Challenge will be used as basis to create the next challenges of the three-year tournament. According to the press release, the winners of the first challenge will be granted $350,000 worth of awards in a number of categories, including $250,000 worth of tokens by Beyond Protocol, and $100,000 worth of tokens by Ocean Protocol.