MUNICH, GERMANY – The Mobility Open Blockchain Initiative – MOBI – has recently announced the top three winners of phase I of the three-year MOBI Grand Challenge (MGC).
The first prize went to Chorus Mobility, a blockchain startup building payment protocols for connected vehicles. Chorus Mobility won first place leaving behind 22 participants from 15 countries.
“The goal of the MOBI Grand Challenge is to accelerate the adoption of blockchain and distributed ledger technologies for transportation. By bringing blockchain solutions to a global stage we are igniting worldwide interest in solving the problems of urban mobility while making it greener, safer, and more efficient,” said MOBI Founder and CEO, Chris Ballinger.
Twenty-three teams competed over four months to create a blockchain solution to address mobility challenges of today’s world. Held at the BMW Group IT Center in Munich, the award event featured finalist presentations and public demonstrations of potential use cases of blockchain and related technologies in coordinating vehicle movement and improving transportation.
First place winning team Chorus Mobility worked on a project reducing congestion in urban areas. Their platform allows autonomous vehicles to coordinate driving routes, utilize infrastructure, and obtain privileges over the fastest lanes. The aim is to create a safe system for self-driving vehicles to communicate, leading to better traffic. Such a system has tremendous potential to improve traffic safety and reduce the cost of mobility.
“Chorus Mobility is proud and honored to place first in the MOBI Grand Challenge Hackathon. We see this success as a confirmation of the validity of our vision to solve traffic with blockchain and autonomous vehicles software,” said William Vorobev, CEO and founder of Chorus Mobility. “We deeply share MOBI’s ideas on the future of mobility and continue working hard on our joint mission to improve traffic safety, decrease the number of congestions and lower the cost of mobility by utilizing the latest breakthroughs in distributed ledgers and consensus protocols.”
Learn more about Chorus Mobility solutions for better transportation here.