The DAV Foundation Joins the Mobility Open Blockchain Initiative (MOBI)

LONDON, July 3, 2018 /PRNewswire/ -- DAV Foundation, the blockchain startup building a decentralised global network for autonomous vehicles, has joined the Mobility Open Blockchain Initiative (MOBI), a peer-to-peer ecosystem to make transportation more affordable, safer and widely available.

The DAV Foundation joins industry peers including BMW, Groupe Renault, Ford, General Motors and organisations that together account for over 70 per cent of global vehicle production by market share. The MOBI consortium includes automakers, public transportation providers, energy companies, insurance firms and regulatory bodies across the world.

Blockchain technology continues to play an important part in the development of autonomous vehicles' ecosystems. The partnership between the DAV Network and MOBI will help unite and decentralise every element across both networks, including car and ride sharing, 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.

Earlier this week, the DAV Foundation launched the DAV Network which is the first open-source system for transport operating on a global scale. As service providers on the DAV Network do not require any prior commercial arrangements between each other, it makes a perfect addition to the MOBI consortium.

Tal Ater, CTO and co-founder of the DAV Foundation said, "MOBI and the companies that are part of the consortium share the same goals as us. It's about companies working together over trustless platforms, because decentralisation 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."

About the DAV Foundation

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 guided by principles of transparency and openness, and invites the DAV community to help build a new way of transporting goods and people around the globe using blockchain technology. The DAV Foundation is headquartered in Zug, Switzerland.

Media Contact: Tom Fry [email protected]  +44- (0)- 208-819-3170

SOURCE DAV Foundation