A Honda and GM-led working group has unveiled a global standard for using distributed ledger technology to create decentralized electric vehicle charging networks.
The Mobility Open Blockchain Initiative (MOBI) has launched a global standard for integrating blockchain technology into a decentralized vehicle charging network.
The storage of excess energy generated by wind or solar is a big problem for the renewable energy industry as batteries are very expensive. But electric vehicles already have significant storage capacity so there’s been a lot of work around plugging them into decentralized energy grids to store renewable energy.
MOBIâ€™s Electric Vehicle Grid Integration (EVGI) Working Group’s first design specifications seek to lay the foundation for decentralized charging networks that better utilize excess green energy, detailing systems for â€œvehicle-to-grid-integration,â€ â€œtokenized carbon credits,â€ and â€œpeer-to-peer applications.â€
MOBI founder and COO, Tram Vo, asserted that the standard will offer benefits to firms representing â€œall sides of the electric vehicle and charging ecosystem,â€ stating:
â€œElectric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger.”
The EVGI standard is chain agnostic, seeking to ensure that â€œpertinent data attributes and functionalities of each use case are available for organizations to utilize in creating their own applications.â€
The EVGI Working Group launched in May, with top automotive companies Honda and General Motors (GM) co-chairing the organization. Distributed ledger technology firms Accenture, IBM, the IOTA Foundation, and R3 are also notable members of the group.
Senior project engineer at Honda R&D Europe, Christian KÃ¶bel, emphasized the â€œmassive transitionâ€ the energy sector is currently undergoing from â€œcentralized power generation in big power plants, towards more distributed and volatile power generation:â€
â€œDecentralization and the concept of direct P2P interaction is set to become a key factor in leveraging this new market and building meaningful tools for energy-conscious end customers.â€
Green energy is increasingly emerging as a major frontier for blockchain technology, with Ripple and Energy Web Foundation announcing the â€˜Energy Web Zeroâ€™Â protocol to decarbonize distributed ledger networks last week.Â