September 05, 2018
Mobility and Blockchain — Driving in the Right Direction
Filament joins MOBI to collaborate with the industry on creating the mobility economy.
Mobility Open Blockchain Initiative (MOBI) is a blockchain industry alliance that includes nearly 70% of the world’s largest automakers, along with many start-ups, non-profits, governments, transit agencies, and technology corporations all working together to make mobility services more efficient, affordable, greener, safer, and less congested.
Filament has recently joined this dynamic group of likeminded organizations and individuals to contribute to the effort and collaborate on driving new value into the future mobility economy.
As the mobility market is feeling the impact of multiple disruptive forces, it is actively exploring new technology solutions for the road ahead. Sharing is replacing traditional purchasing, and vehicles are becoming autonomous, connected, and electrified all at the same time. With nearly 100 million passenger and commercial vehicles produced last year alone, this massive and fragmented industry is at a point in time where it must evolve to stay relevant and capture new revenue opportunities. Through our many conversations with original equipment manufacturers (OEMs) and others in the space, we know that this entire ecosystem is moving quickly to figure out how to adapt.
At Filament, we believe the way to capture and bring additional value is by adding economic protocol directly into the vehicles and the infrastructure. This is precisely why we built our Blocklet™ technology to provide blockchain native capabilities in a semiconductor chip.
For mobility, generating blockchain transactions directly on a chip that is built into or onto the vehicle or infrastructure, means establishing a trusted foundation upon which next generation economic applications, such as smart contracts, can then be created. With the root of trust secured, automakers and others can responsibly explore opportunities to create new value.
For example, rental car, delivery vehicle fleet, and construction equipment companies are considering how to leverage blockchain to increase resale value, while insurance companies are seeing opportunity to reduce false claims. Automotive OEMs are looking at creating revenue-generating dynamic leasing models and ultra-extended warranties, and fleet management companies are seeing blockchain as a solution for regulatory compliance.
The supply chain sector and energy market are also showing a strong interest in relation to the mobility space, as these organizations move goods and power transactions. In fact, at Filament, we often find ourselves helping organizations with use cases that bridge mobility with one of these industries.
Whatever the use case, when done right with the secure element at the core, blockchain deployments that allow vehicles, infrastructure, and service providers to efficiently communicate and transact directly with each other have the potential to change the value dynamic on a large scale.
Recently, I had the opportunity to speak to a group of MOBI members and was energized by their insights. Mobility is a massive market and I believe we all recognize that collaboration is essential. At Filament, we are in it to change the way the mobility, supply chain, and energy sectors work for the better. To make that happen, it will require everyone working together. With a mobility economy, where vehicles can be monetized at the machine level in various ways, we will live up to the MOBI mission by making transportation safer, greener, more efficient, and affordable across the industry.