https://www.businesswire.com/news/home/20180603005033/en/

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jun 3, 2018--CarBlock, the world’s first blockchain-based transportation solution built on data generated by smart devices announced today that it has joined MOBI, the Mobility Open Blockchain Initiative, to explore blockchain and distributed ledger technology (DLT) for use in the development of a digital mobility ecosystem that could make transportation safer, more affordable, and more widely available. CarBlock is collaborating with the MOBI and other industry, government, and non-profit partners to foster a digital environment where users – both businesses and consumers – may securely record driving data, manage ride-share and car-share transactions, and store vehicle identity and usage information.

Blockchain technology sends information over a network of independent computers, known as a distributed ledger, intended to ensure that transactions are secure and data privacy, ownership rights, and integrity are protected. CarBlock and partners believe that blockchain technology may create transparency and trust among users, reduce risk of fraud, and reduce frictions and transaction costs in mobility, such as fees or surcharges applied by third parties.