The Mobility Open Blockchain Initiative (MOBI), a working group led by Honda and General Motors (GM), has just launched a global standard for using the distributed ledger technology. This global standard will help to integrate blockchain technology into the decentralized vehicle charging network.
It has been noticed that the storage of excess energy that is generated by wind or solar emerges as a big problem for the renewable energy industry. As far as electric vehicles are considered, they are already having enough storage capacity and this problem does not occur there.
The working group of MOBI’s Electric Vehicle Grid Integration (EVGI) is currently aiming to lay the foundation for the decentralized charging networks. This will help to properly utilize the excess green energy. Along with this, there will be a “vehicle-to-grid integration”, “tokenized carbon credits” and “peer-to-peer applications” as well.
Tram Vo, the Founder and COO of MOBI, has said that this global standard will be extremely beneficial for all the firms that represent all sides of the electric vehicle and charging ecosystem as well. He said:
“Electric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger.”
The EVGI Working Group was launched by Honda and GM, back in May 2020. Both the firms are co-chairing this organization. Along with Honda and GM, other Distributed Ledger technology firms like IOTA Foundation, R3, IBM, and Accenture are also the members of the firm. Christian Kobel, Senior Project Engineer at Honda R&D Europe has said that there is a massive transition going on in the energy sector. It is moving from the centralized power generation to the decentralized.