MOBI blockchain standard will enable a set of core network data services that will provide significant value to electric vehicle owners, charging infrastructure, and grid operators.
The Mobility Open Blockchain Initiative (MOBI), a consortium led by the duo of General Motors Company (NYSE: GM) and Honda Motor Co Ltd (TYO: 7267) has launched the world’s first Electric Vehicle Grid Integration (EVGI) standard on the blockchain through its EVGI working group. Per the official announcement from the MOBI, the blockchain EVGI standard seeks to tackle energy and climate challenges by enabling a decentralized, electrified automobile charging system for a sustainable future.
As detailed, the MOBI EVGI blockchain standard in its first technical design shows its use cases in three different aspects relating to electric vehicle charging systems, and they include Vehicle to Grid Integration (V2G), Tokenized Carbon Credits (TCC), and Peer to Peer (P2P) applications. MOBI stated that it will not impose any framework on any organization but will ensure that crucial data attributes and functionalities of each of the listed three use cases are adhered to by companies building their own applications.
“Implementing the EVGI Standard will provide a variety of benefits for players on all sides of the electric vehicle and charging ecosystem,” said Tram Vo, MOBI’s COO and Founder. “Electric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger,” added he.
MOBI EVGI Blockchain Standard to Solve Crucial Need
The world is gradually tilting away from the consumption of fossil fuels that plays a part in damaging the Ozone layer. With climate change realities beckoning on every government, industry, and stakeholders in general, the need to develop a strategy to combat climate change, and its attendant menaces became pertinent.
For the automobile industry particularly those producing electric vehicles and players in the energy market in general, the need for decentralized and functional energy stations is needed to help create a sustainable system across the board. This is what the MOBI EVGI blockchain solution as also stirred by additional participants including blockchain-based firms Accenture, and IOTA Foundation amongst others.
“Today’s energy markets are undergoing a massive transition from centralized power generation in big power plants, towards more distributed and volatile power generation. Decentralization and the concept of direct P2P interaction is set to become a key factor in leveraging this new market and building meaningful tools for energy-conscious end customers. The goal is to enable scalable, user-centric energy communities. The EVGI Standard represents one of the first essential building blocks for founding such an ecosystem,” said Christian Köbel, Senior Project Engineer at Honda R&D Europe.
According to the organization, the standard will enable a set of core network data services that will provide significant value to Electric Vehicle owners, charging infrastructure, and grid operators. It will be possible by enabling secure, decentralized communication and immutable recordkeeping between data-generating peers. This supports data transparency, trust, coordination, and automation among mobile service providers, consumers, utilities, and government stakeholders.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.