Aucnet Joins Global Mobility Blockchain Standardization Consortium "MOBI"

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TOKYO, Jan. 21, 2022 /PRNewswire/ -- Aucnet Inc. (hereinafter "Aucnet"), based in Tokyo, Japan, announced that it has joined the Mobility Open Blockchain Initiative (hereinafter "MOBI") headquartered in Los Angeles in the U.S. state of California, a global nonprofit consortium that develops blockchain-based technologies and standards for next-generation mobility. Through its participation in MOBI, Aucnet seeks to contribute to a sustainable society by developing circular distribution platforms for electric vehicles (EVs) and their batteries.

Aucnet launched the world's first real-time virtual used-car auction in 1985. Based on its philosophy of "Shaping the Future of Commerce," Aucnet has expanded beyond used cars to create circular distribution platforms for a wide variety of industries, including digital products, motorcycles, luxury brand items, flowers, and medical equipment. To enable remote transactions with peace of mind, Aucnet has developed industry-leading de facto standard inspection and grading systems for each of its product lines. In the automobile business, Aucnet inspects and grades more than one million used cars per year through its subsidiary AIS Inc., which was established with investments from Toyota, Honda, Nissan, Mazda and Subaru.

Founded in 2018, MOBI is a global nonprofit alliance of more than 100 companies and organizations, including the world's largest vehicle manufacturers, along with startups, NGOs, transit agencies, insurers, toll road providers, smart city leaders, and technology companies. MOBI's mission is to create standards and build the digital infrastructure for connected vehicles and IoT commerce in order to accelerate the adoption of blockchain/DLT and make transportation more efficient, equitable, decentralized, and sustainable.

2021 saw an unprecedented shift towards EVs in the new vehicle market, with numerous vehicle manufacturers and governments having committed to increase the uptake of EVs. This trend is expected to continue in the coming years and to flow on to the used-vehicle market in the near future. MOBI provides Aucnet the opportunity to collaborate with leading organizations around the world to be at the forefront of the development of inspection technologies and circular distribution platforms for EVs and their batteries. Aucnet's systems will facilitate transparent transactions of used EVs and enable the efficient reuse of lithium-ion batteries, thereby contributing to the achievement of the U.N.-led Sustainable Development Goals (SDGs).

- MOBI overview
Organization name: Mobility Open Blockchain Initiative
Established: May 2, 2018
Headquarters: Los Angeles, California, USA
Representatives: Chris Ballinger, Tram Vo
URL: https://dlt.mobi/

- Aucnet profile
Company name: Aucnet Inc.
Headquarters: 2-5-8 Kita-Aoyama, Minato-ku, Tokyo 107-8349, Japan
Representatives: Kiyotaka Fujisaki, Chairman and CEO; Shinichiro Fujisaki, President and COO
Established: June 29, 1985
Capital: 1,765 million yen (as of December 31, 2020)
Consolidated sales: 24,078 million yen (fiscal year ending December 2020)
Number of consolidated employees: 821 (as of December 31, 2020)
Business overview: Information-based distribution support service businesses such as hosting and operating auctions using the Internet
Stock information: First Section of the Tokyo Stock Exchange (Securities Code: 3964)

URL: https://www.aucnet.co.jp/
SDGs policy: https://www.aucnet.co.jp/SDGs/en/

SOURCE Aucnet Inc.