Blockchain Applications To Improve Traffic In Metropolitan Areas
The Mobility Open Blockchain Initiative (MOBI) in collaboration with the Trusted IoT Alliance (TIoTA) launched a competition for blockchain-based solutions aimed at strengthening transport connectivity in metropolitan areas, as reported in the project’s press release.
The prize fund of the contest called MOBI Grand Challenge (MGC) will amount to more than $1 million in tokens. The project will last three years. Developers can apply online for participation from all over the world.
The competition will begin on October 12, 2018, and will be held in several stages. According to the results of the first round, which will last four months, the best solutions will be selected, aimed at improving the coordination of transport infrastructure in cities. They will be applied as the basis for the formation of subsequent projects within the framework of the competition.
In February 2019, the winners of the first MGC round will be presented at the final event organized by the BMW Group, the MOBI community member, in Munich. Developers in various categories will also receive a cash prize of $350 thousand, including the Beyond Protocol tokens equal to $250,000 and $100,000 in the Ocean Protocol tokens.
Ocean Protocol is a communication protocol on blockchain that allocated $1 million in crypto for the MGC. Beyond Protocol is a company from Silicon Valley using DLT to protect the Internet of Things (IoT) devices. The company allocated tokens in the amount of $250,000 to use them in its protocol network.
As previously reported, BMW announced the launch of a program to support startups. One of its first participants was Supermoney, which is developing a new crypto wallet.