Faraday Future has joined MOBI, the Mobility Open Blockchain Initiative, the company announced recently. FF is collaborating with MOBI to explore blockchain and distributed ledger technology (DLT) for use in the development of a digital mobility ecosystem that could make transportation safer, more affordable, and more widely available.
The Blockchain technology is considered as a key emerging technology in the automotive and mobility space to make transportation safer, more affordable, and more widely accessible. It sends information over a network of independent computers, known collectively as a distributed ledger, intending to ensure that transactions are secure and data privacy, ownership rights, and integrity are protected.
FF and partners believe that blockchain technology may create transparency and trust among users, reduce the risk of fraud, and reduce “friction points” and transaction costs in mobility, such as fees or surcharges applied by third parties.
Initially, FF is working with MOBI on projects related to:
- Vehicle identity, history, and data tracking
- Supply chain tracking, transparency, and efficiency
- Autonomous machine and vehicle payments
- Secure mobility ecosystem commerce
- Data markets for autonomous and human driving
- Car sharing and ride hailing
- Usage based mobility pricing for vehicles, insurance, energy, congestion, pollution, infrastructure, etc.
Some of the other members of MOBI are: BMW, GM, Ford, IBM, etc.