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BMW, Ford use Blockchain Identities for Vehicles to against fraud

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Summary: Announced Tuesday, a working group formed under the Mobility Open Blockchain Initiative (MOBI) and co-chaired by the two car giants, has released the second instalment of a standard for how to record the "true" identity of vehicles on a blockchain platform. Dubbed vehicle "birth certificates," the Vehicle Identity Standards I and II focus on vehicle ...

Announced Tuesday, a working group formed under the Mobility Open Blockchain Initiative (MOBI) and co-chaired by the two car giants, has released the second instalment of a standard for how to record the "true" identity of vehicles on a blockchain platform. Dubbed vehicle "birth certificates," the Vehicle Identity Standards I and II focus on vehicle registration and maintenance traceability in order to provide a "tamper-proof" history of the vehicle to buyers, regulators and insurers.The work is supported by a number of other major firms such as Accenture, AWS, Bosch, Hitachi America, Honda and IBM.

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