First blockchain-based EVGI Standard tackles energy and climate challenges by enabling a decentralized, electrified mobility future
LOS ANGELES, Oct. 6, 2020 /PRNewswire/ -- The Mobility Open Blockchain Initiative (MOBI)'s member-led Electric Vehicle Grid Integration (EVGI) Working Group created and launched the automotive industry's first global standard incorporating blockchain technology into a decentralized vehicle charging system.
The EVGI Working Group released its first technical design specification, which covers the system designs and data schemas required for three core use case areas: Vehicle to Grid Integration (V2G), Tokenized Carbon Credits (TCC), and Peer to Peer (P2P) applications. While MOBI's EVGI Standard does not prescribe any particular application or underlying distributed ledger technology (DLT), it ensures that pertinent data attributes and functionalities of each use case are available for organizations to utilize in creating their own applications.
"Implementing the EVGI Standard will provide a variety of benefits for players on all sides of the electric vehicle and charging ecosystem," said Tram Vo, MOBI's COO and Founder. "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."
Created by a group of global automotive leaders, startups, and large technology companies, the EVGI Standard is a foundational step toward solving some of the most pressing climate and mobility challenges. MOBI's EVGI Working Group is chaired by Honda and General Motors (GM), with support from Accenture, CPChain, IBM, the IOTA Foundation, Pacific Gas & Electric Company (PG&E), Politecnico di Torino, and R3.
"Today's energy markets are undergoing a massive transition from centralized power generation in big power plants, towards more distrib...