GM and Honda led team has unraveled a new way for the distributed ledger technology and utilize its applications to create a decentralized electrical vehicle charging network.
Mobility Open Blockchain initiative launched the standard for integrating blockchain initiative into a decentralized vehicle charging network.
Excess energy stored from major solar and wind power plants becomes an issue as batteries are very expensive.
This brings into light the storage capacity of electrical vehicles which has ample storage for the excess green energy.
This leads us to work going on connecting these vehicles into decentralized energy grids to store renewable energy.
MOBI’s Electrical Vehicle grid Integration system team has laid down a few detailed fundamental standards to have better utilization of excess green energy.
The detailed standards of these use cases talk about P2P or “Peer-to-Peer applications”, “Tokenized carbon credits” and “vehicle to grid integration”
The EVGI standards ensure that every detail, attribute, and functionality of each use case is available for organizations to use them in their own applications.
Blockchain companies included in the MOBI initiative include Accenture, IBM Blockchain, the IOTA Foundation, R3, and more.
MOBI aims to achieve road safety, lower carbon emissions, and reduced traffic congestion through the standard and its applications.
Green energy has advanced in the frontline many times for blockchain technology.
Ripple and Energy Web Foundation also announced the ‘Energy Web Zero’ protocol to decarbonize distributed ledgers last week.