KAR Auction Services has been apart of the Mobility Open Blockchain Initiative, a worldwide membership of auto industry leaders to develop blockchain technologies, since last year and recently announced KAR will be growing their partnership. This deeper development will focus on electrical car integration while working with other companies like Honda, General Motors, and Accenture.
KAR also stated that MOBI's EVGI group will be looking into the value of blockchain technologies of peer-to-peer energy contracts, tokenized carbon credits, and car to grid energy storage.
“As a leader in the automotive industry, we are always looking for ways to collaborate and innovate,” KAR President Peter Kelly said. “Working with other automotive and technology industry leaders as active members of MOBI, we are pioneers in the mobility and blockchain technology space with a vested interest in the success, integrity and security of blockchain enabled solutions."
“Together we can build a more transparent and trustworthy ecosystem for our customers and the industry,” Kelly added.
The company also said that the MOBI EVGI group will be looking into contracts for develop easier ways to make purchases, to develop new blockchain-based ledgers online to administrate carbon credits to save on charging station prices.
KAR emphasized that they were the first remarketing company to join with MOBI and to team with worldwide auto OEMs, mobile technology companies, governmental agencies, and consulting and financial companies in an effort to create new solutions. During the previous year, KAR has been working to create blockchain technologies for different uses throughout the auto industry.
Using MOBI's open source blockchain software and tools, KAR will keep teaming with others to create new blockchain-based car data and mobile services.
The company believes that blockchain will ensure that all transactions based on the technology will be more secure and much more private. Their work with MOBI and the other members in order to reduce development costs and pool resources.