The Mobility Open Blockchain Initiative (MOBI), and the Trusted IoT Alliance (TIoTA) have launched a tournament for blockchain applications in vehicles, according to an official press release published Oct. 10. The new tournament entitled MOBI Grand Challenge reportedly intends to develop “the first viable” blockchain-powered network of vehicles and system to coordinate machines, provide data sharing, as well as to improve the level of mobility in urban conditions. The three-year blockchain challenge, which plans to award winners with over $1 million dollars worth of tokens, will cover a number of events, and invites entrants to participate online globally. The MOBI …

The mayor of Seoul Park Won-soon has introduced a five-year plan for developing the blockchain industry in the city, Korean news agency Yonhap News reports Thursday, October 4. The project entitled “Blockchain City of Seoul” contains a number of measures for promoting and developing blockchain-related initiatives and education in the city from 2018–2022, Park revealed in a speech in the city Zug, Switzerland on Thursday. By 2022, the city plans to set up a public-private fund of 100 billion won ($88.2 million) in order to invest in blockchain startups in Seoul. The fund will acquire 13.6 billion won ($11.9 million) …

Luxury automobile retailer Post Oak Motor Cars is reportedly the first Rolls-Royce, Bentley and Bugatti dealership in the U.S. to accept Bitcoin (BTC) and Bitcoin Cash (BCH) as payment, according to an official press release published September 5. The luxury auto retailer, owned by American businessman Tilman Fertitta, has integrated crypto payment service provider BitPay to let clients purchase cars with crypto. According to the press release, the Texas-based firm will accept purchases in crypto from customers worldwide. Fertitta commented that the company decided to provide the new payment option in order to offer their customers “the very best buying …

Lloyd's Register (LR), a British tech and business maritime classification society, has created a model of a blockchain-powered class register of ships, according to an official press release published September 4. LR’s new class register is reportedly “the first demonstrator that can register ships into Class” by deploying blockchain technology. Originally, LR published the first “Register of Ships” in 1764 in order to provide both underwriters and merchants with information about the condition and quality of vessels they insured and chartered. In order to transform the system that was introduced in the eighteenth century, LR has partnered with London-based blockchain …

U.S. technology firm Seven Stars Cloud Group (SSC) announced it had entered a deal with China’s largest electric bus operator to provide finance services using blockchain technology August 20. In a press release, NASDAQ-traded SSC said its partnership with the National Transportation Capacity Co Ltd (NTS) would run for three years and was worth $24 billion. Part of China’s ongoing interest in electric public transport overhauls, the government plans to replace all traditional buses with electric vehicles as soon as 2021. SSC will specifically provide “fixed income lease financing-based products” through its regulated network, which will in turn provide NTS …

South Korea’s Lotte Global Logistics, a major Seoul-headquartered logistics and shipping firm, has joined the Blockchain in Transport Alliance (BiTA), FreightWaves reported Monday, July 9. The BiTA trade association was formed in 2017 to popularize and develop blockchain applications in the transport and logistics industries, as well as to establish industry standards for adoption of the technology. The alliance uses OriginTrail, a purpose-built protocol for supply chains based on blockchain, and counts around 400 participants as members. Lotte Global, for its part, is a full-service logistics provider, overseeing warehouse management, intermodal import/export terminals and customs clearance, parcel delivery, and moving …

The automotive industry is regarded as one of the more cutting edge sectors that often leads the way for new technologies such as artificial intelligence and autonomous systems. Blockchain is being seen as one such technology, and it is unsurprising that the industry is immersing itself in this new space. Car manufacturers have been quietly picking up on the blockchain phenomenon, trying to figure out different ways in which they can utilize the immutable ledger to their different needs. For example, on June 11, IOTA and Volkswagen demonstrated a proof-of-concept that uses IOTA’s Tangle system for autonomous cars. This is …

A UK cycling merchant confirmed it would deliver the world’s first e-bike which generates cryptocurrency, local media reported June 12. 50cycles, based in London, will begin offering its TOBA range of vehicles in August via a partnership with “customer loyalty-oriented” token LoyalCoin. “This is not only the first electric bike of its kind, but it will also be the first product ever to be tokenized and which issues reward for use,” 50cycles CEO Scott Snaith told industry publication Cycling Industry News. By using the e-bike, riders will generate LoyalCoins equivalent in value to £20 ($26.50) per thousand miles (1609 kilometers). …

Singapore-based blockchain startup VeChain (VEN) and global logistics provider DB Schenker have co-developed a blockchain-based supplier evaluation system, according to a VeChain Foundation post published today, June 12. A new decentralized application (DApp) will use the VeChainThor blockchain to score DB Schenker’s third-party logistics partners in China based on collected data – the result being an evaluation for services such as packaging, transportation, and the quality of goods. The Vechain Foundation claims that the DApp is the first ever implementation of blockchain for supplier management purposes: “In the future, the system and its related applications can potentially evolve into a …

While some online and physical businesses that offer services and smaller goods have made the move toward Bitcoin, the currency had not caught on with sellers of cars and other vehicles (aside from a few half hearted marketing ploys, one time deals or donation schemes). Tomcar Australia CEO David Brim likened Bitcoin to the innovation credit cards represented in the 1970s. “When our Tomcars are suited to many driving environments, it makes sense to accept a global currency without nation-state borders,” Brim said. CoinJar Tomcar will use CoinJar as its payment gateway, and customers buying online will simply be able …