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Bayerische Moto (OTCMKTS:BMWYY) Introduces Blockchain Competition to Offer Token Prizes in the Auto Sector

The Trusted IoT Alliance (TIoTA) and the Mobility Open Blockchain Initiative (MOBI) have unveiled a tournament for blockchain based applications in vehicles. It is intended to explore how the vehicles will transact, co-operate, and communicate in the years ahead. The 3-year blockchain challenge will host a number of events. It intends to offer tokens worth more than $1 million to the winners. The challenge invites people from across the world to participate online.

The Mobi grand challenge, which will begin on October 12, 2018, is aimed to demonstrate the potential applications of blockchain to improve transportation in urban areas and to coordinate the vehicle movement. The technologies selected from the first challenge will be showcased in February 2019 at a Bayerische Moto (OTCMKTS:BMWYY) event in Munich, Germany. The outcome of the first grand Mobi challenge will be utilized to develop challenges for the 3 year tournament.

The main aim of Mobi Grand Challenge is to overcome the road congestion. The blockchain based communication allows the vehicles to negotiate a better path, and figure out the obstacles and at the same time safeguard the environment to reach the destination rapidly and safely.

Prizes for the Winners

The first challenge winners will be awarded prizes worth $350,000 in various categories. Ocean Protocol will award tokens worth $100,000 to the winners in the first challenge. Beyond Protocol will also award tokens worth $250,000 to the winners for the first challenge.

The blockchain based data exchange protocol – Ocean Protocol will offer tokens worth $1 million to the winners of Mobi Grand Challenge. The Silicon Valley based Beyond Protocol uses the DLT (distributed ledger technology) to safeguard the IoT (Internet of Things) devices.

ED of the Trusted IoT Alliance, Zaki Manian said mobility is a breakout of the IoT direction to the blockchain. Only a few firms are successful in developing end-to-end concept in this arena. The aim of the new tournament is to fill this technology gap.

Renault (OTCMKTS:RNLSY), Ford Motor Company (NYSE:F), General Motors Company (NYSE: GM) and Bayerische Moto have unveiled a joint blockchain platform in May 2018 to change the transportation. Their alliance is to address the issues and provide a greener, safer and affordable solutions with the help of blockchain technology.

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