BMW, Ford Advance Standard for ‘Tamper-Proof’ Blockchain Identities for Vehicles

A global automotive consortium is leveraging blockchain-based “birth certificates” to track the purchase and maintenance history of secondhand vehicles. The Mobility Open Blockchain Initiative, or MOBI, a non-profit consortium of the world’s top vehicle manufacturers including Ford and BMW, has launched an initiative to combat fraud in the secondhand markets with blockchain-powered “birth certificates.”The initiative will leverage blockchain to track the registration and maintenance history of vehicles using MOBI’s second vehicle identification standard, “VID II.” The system will help....

On January 4, GM tweeted news of its collaboration with Lyft to create self-driving vehicles. This announcement came as the industry was awaiting Ford and Google to announce a partnership for self-driving vehicles this week. Both of these projects promise ripe grounds for smart contracts, blockchain-powered contracts that can tie IoT and vehicle finance together. Smart contract auto leases were among the first applications announced in 2015. Self-driving cars have to potential to be strong vehicles for smart contract technology. Auto finance contracts are particularly suited to smart....

Bitcoin appears to meet the definition of an energy-backed currency proposed by the famed American inventor during the interbellum period. In 1921, American industrialist Henry Ford proposed the creation of an “energy currency” that could form the basis of a new monetary system — offering striking similarities to the peer-to-peer electronic cash system outlined in Satoshi Nakamoto’s 2008 Bitcoin (BTC) whitepaper. Front page of the New York Tribune dated Sunday, December 4, 1921. Source: Library of CongressBitcoin as an energy currencyOn Dec. 4, 1921, the New York Tribune published an....

Leading automotive company Ford has filed 19 trademark applications related to possible metaverse activities. In the documents, the company hints at the potential launch of Ford-branded NFTs (non-fungible tokens) on its own marketplace, and also refers to the offering of virtual models of its cars, including Mustang, Mustang Mach-E, and the Bronco. Ford Hints at Metaverse Move Ford, one of the biggest U.S.-based automotive brands by sales, has introduced several trademark applications to the U.S. Patent and Trademark Office (USPTO), preparing for a potential push into the....

Ford Motor, a world-renowned U.S. car maker, is maneuvering towards the -fungible tokens and the metaverse as it files for 19 trademark applications for its American car brands with the U.S. Patent and Trade Office (USPTO). Ford dipping into the metaverse and NFT or Web3 ecosystem came after the company led by Jim Farley, Ford  […]