SAN DIEGO--(BUSINESS WIRE)--XYO Network, the people-powered location network that’s bringing blockchain to the real world, has joined the Mobility Open Blockchain Initiative (MOBI), a global consortium of brands and businesses dedicated to innovating the transportation industry through blockchain. By partnering with MOBI, XYO Network joins BMW, ConsenSys, the World Economic Forum and other global brands to collectively make mobility of the future greener, safer and more accessible.
“There have never been more exciting mobility use cases around blockchain, and MOBI’s mission epitomizes what the future of blockchain is all about. Their members are known for both innovation and accelerating the adoption of new transportation technology, which is exactly why we joined their cutting-edge consortium,” said Markus Levin, XYO’s Co-founder. “We look forward to playing an active role in deciding the standards of the future.”
XYO Network uses crypto-location technology that not only protects privacy, it provides greater accuracy of where objects are both in relation to other objects, and where they are on the planet. Possible use-cases with MOBI could include driverless cars that use the XYO Network to “see” each other, or vehicles that use XYO data to navigate traffic at busy intersections. With its next generation of GPS functionality, the XYO Network can power everything from automated parking payments to smart contracts to any number of mobility applications.
Founded in May, MOBI is working with top global partners on creating a secure, commerce-focused mobility ecosystem used for trusted vehicle identity and tracking, carbon pricing, usage-based insurance, and more.
“Multi-party cooperation is critical to the new era of blockchain development,” added Levin. “We look forward to being part of the decision-making process as we come together to address common industry and technology challenges, create solutions that scale, and collaboratively speed up the adoption of blockchain technology in the transportation world.”
About XYO Network
XYO Network is a vast, geospatial, blockchain-powered location network that provides accurate, certainty-driven location data on everything from cars to smartphones. Using tracking devices created and sent out into the as well as by updating existing IoT devices and mobile phones, the XYO Network ecosystem delivers the authentic, verifiable and trusted coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of high-stakes, location-centric applications. XYO can deliver complex, multi-layered, 3D-level location data from anywhere on the planet.
Headquartered in San Jose, Calif., the Mobility Open Blockchain Initiative (MOBI) was created to help the mobility industry apply secure, peer-to-peer blockchain technologies to improving people’s lives by making mobility more efficient and affordable, to reduce congestion and pollution, and to improve safety. MOBI’s mission is to explore blockchain and related technologies, promote standards, and accelerate adoption for the benefit of the industry, consumers, and communities. MOBI seeks to address the needs of the emerging, connected, and on-demand multi-modal transportation ecosystems. Further information about MOBI and its member organization can be found at www.dlt.mobi.