IBM Hosts First APAC MOBI Colloquium to Promote Standards and Accelerate Adoption of Blockchain in Human Mobility

Major car makers and technology companies convene to discuss how to make human mobility safer and greener for better quality of life

SHANGHAI,April 17,2019 --Today,members from the Mobility Open Blockchain Initiative (MOBI) and representatives from major technology companies and automakers convene at IBM's China Headquarters in Shanghai to discuss the way forward to accelerate the development of connected cars and autonomous mobility solutions. The first APAC MOBI Colloquium sets out to explore the current state of blockchain research and development,IoT solutions,and how these new technologies can make mobility greener,safer,and more accessible for China and the region.

Today's vehicles are evolving from a mode of transport to moving data centers with onboard sensors and computers that capture information about the vehicle and its surroundings. Blockchains can unleash this data to power a new and more sustainable future.

In China,blockchain is undergoing a period of rapid growth and experimentation. The People's Bank of China recently backed and piloted a new blockchain-based trade finance platform,the judiciary adopted rules making blockchain evidence admissible in court,and the Agricultural Bank of China made a blockchain mortgage. The development of blockchain technology itself is key to the nation's technological advancement.

"Blockchain and decentralized ledger technology has great potential to make mobility greener,and more accessible for cities around the world,especially for nations with rapid urbanization like China," said Chris Ballinger,CEO of MOBI. "MOBI is set up to promote the advancement of a future solution that combines smart cities and connected cars to make people's lives better. This is a big mission. It is not a task to be realized by a single company. By bringing together key stakeholders,experts,and partners,we believe MOBI is in the right position at the right time to advance this grand vision."

China has more than 300 million registered vehicles – almost the same number as people in the United States – and the number continues to rise.1 10 out of the 25 most congested cities in the world are in mainland China.2 Motor vehicle emissions have become a major source of air pollution in China.3

A new mobility solution is needed to ensure a sustainable future.

If this vision can be realized,the benefits it brings to our society are immense. Studies4 have shown that autonomous vehicles can optimize fuel efficiency and reduce emissions by 60%. In the US alone,people in urban areas spend about 7 billion hours in traffic every year. That's 3.1 billion gallons of fuel wasted and $160 billion lost due to traffic congestion. Most importantly,by minimizing human error,autonomous vehicle solutions can reduce accidents by 90%.

All this is great but we still have a fair way ahead of us. According to a Rand Corp study,5 1 trillion miles of self-driving data is needed in order for autonomous vehicle models to be accurate and safe. Waymo,the former Google autonomous car project,is driving 25,000 miles a day. At this rate,it would take close to 110,000 years to reach the Rand Corp mileage target.

"The linchpin is data," said Trent McConaghy,founder of Ocean Protocol. "We are bringing to MOBI a blockchain-powered platform that enables data to be shared in a safe,privacy-preserving,borderless fashion. Algorithms can travel to data to get trained without exposing the data or taking a copy. This is ideal for MOBI's partners and community to retain data privacy and ownership. For the first time we can unlock the value of data without unlocking data itself," McConaghy continues.

The MOBI Colloquium Shanghai brings together a diverse network of industry leaders and startups,providing them with a platform to share knowledge and innovate. Widespread adoption of blockchain technology cannot be achieved without the creation and agreement upon standards to regulate the ecosystem. By encouraging communication between differing industries,MOBI helps drive forward blockchain scalability. China's robust mobility,blockchain,IoT,and AI ecosystem offers tremendous opportunities for MOBI community members to create a brighter and safer future.

The first APAC MOBI Colloquium is hosted by IBM and co-organized by CPChain and Tribe Accelerator.

About MOBI

MOBI is a nonprofit foundation formed to accelerate adoption of and to promote standards in blockchain,distributed ledgers,and related technologies for the benefit of the mobility industry,consumers,and communities. MOBI and our partners are creating simple,standard and digital ways of identifying cars,people,and trips,of paying for mobility services,and securely exchanging and monetizing data in ways that preserve property rights and privacy.

MOBI is working with most of the world's large automakers and many mobility ecosystem players,along with many start-ups,non-profits,governments,NGOs,transit agencies,and technology companies. We are convinced that by working together we can make mobility services more efficient,affordable,greener,safer and less congested. MOBI is an open,inclusive body that acts as a 'trusted convener' and partner to entities in the emerging ecosystem of pay for use,on demand,connected,and increasingly autonomous mobility services. MOBI itself is technology and ledger agnostic.

About Ocean Protocol

Ocean Protocol is a decentralized data exchange protocol to unlock data for AI. Through blockchain technology and smart contracts,Ocean Protocol connects data providers and consumers,allowing data to be shared while guaranteeing traceability,transparency,and trust for all stakeholders involved. It allows data owners to give value to and have control over their data assets without being locked-in to any single marketplace. By bringing together decentralized blockchain technology,a data sharing framework,and an ecosystem for data and related services,Ocean Protocol is committed to kick-starting a new Data Economy that touches every single person,company and device,giving power back to data owners,enabling people to reap value from data to better our world. Visitoceanprotocol.com to find out more.

About CPChain

Cyber Physical Chain (CPChain) is a new distributed infrastructure for next generation IoT. CPChain intends to build a fundamental data platform for IoT systems in combination with distributed storage,encryption computation and blockchain technologies,providing the whole process solution from data acquisition,storage,sharing to application. CPChain is a promising solution to a series of challenges of the current "chimney architecture" of IoT systems,reducing connectivity cost of devices,protecting data privacy and maximizing the value of IoT data.

About Tribe Accelerator

Tribe Accelerator,the first Singapore government supported blockchain accelerator,is championing to be a neutral platform in driving collaboration and growth of the blockchain ecosystem. Together,these organizations,as an integral part of the critical growth of the global blockchain community,aim to create a collaborative space to encourage the exchange of ideas on the modernization of the mobility space.

Media Contact: Adria Stauber,Communications Manager

communication@dlt.mobi| www.dlt.mobi | @dltMOBI

1http://english.gov.cn/state_council/ministries/2018/10/17/content_281476349681232.htm

2https://www.tomtom.com/en_gb/trafficindex/list?citySize=LARGE&continent=ALL&country=ALL

3 https://gbtimes.com/vehicle-emissions-become-major-source-of-air-pollution-in-china

4https://onlinemasters.ohio.edu/blog/the-future-of-driving/

5https://www.rand.org/content/dam/rand/pubs/research_reports/RR1400/RR1478/RAND_RR1478.pdf