Blockchain Road Space Negotiation project wins BMW-Backed Competition for Auto Tech
Chorus Mobility emerged as the winner out of twenty-three participants from fifteen countries worldwide.
The Mobility Open Blockchain Initiative – MOBI – recently announced the top three winners of phase I of the three-year MOBI Grand Challenge (MGC).
The top prize went to Chorus Mobility for the project on negotiating road space and right of way payments for autonomous vehicles to reduce congestion.
“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 blockchain or distributed ledger related solution to address mobility issues affecting today’s world. Held at the BMW Group IT Center in Munich, the award event featured finalist presentations and public demonstrations of potential uses of blockchain and related technologies in coordinating vehicle movement and improving transportation in urban environments.
First place winning team Chorus Mobility worked on a project to address growing congestion in urban cities. Their platform allows autonomous vehicles to coordinate driving routes, infrastructure utilization, and allocate rights of way based on demand and availability. The aim is to create a system for self-driving vehicles to safely communicate, so that traffic can move more efficiently. This has tremendous potential to improve 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.”