Ripple Joins BMW, Ford in Mobility Blockchain Initiative

Ripple Joins BMW, Ford in Mobility Blockchain Initiative

Ripple, cross-border payment services provider, has recently joined the Mobility Open Blockchain Initiative (MOBI) that was developed in 2018 to study blockchain use cases in a new digital mobility ecosystem.

Upon launch, the initiative was collaborating closely with firms representing more than 70 percent of global automotive manufacturing in terms of market share.

The MOBI’s founding members include BMW, Ford and General Motors, as well as major tech players such as Accenture and IBM. They also include Blockchain firms such as ConsenSys, Hyperledger and IOTA Foundation.

The deal has not been officially unveiled, but the initiative has added Ripple to its list with the following description:

“Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes. Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.”

Details on collaboration unknown

It is not yet known the role of individual partners at MOBI. However, Ripple and other blockchain projects such as IOTA, VeChain or Ethereum may be included to integrate individual projects or proof of concepts through corporate partners.

When becoming a member, Ripple can make use of the following benefits:

“(…) tech companies, startups, and the blockchain developer community get access to scale, customers and network effects; government agencies, transit authorities, and academics get insight into policy development and spending priorities. Regardless, all members get a seat at the table and an inside view of the revolutionary changes, opportunities, and impacts afforded by blockchains and distributed ledger.”

Ripple launches new versions of XRP Ledger

Xpring, the commercial arm of Ripple, has released the new versions (1.5.0 and 1.6.0 -b1) for its XRP Ledger.

In a blog post, Xpring stated that the new versions have new features that aim to improve the services offered to clients. 

The 1.5.0 version supports the gRPC API and API versioning. In addition, it includes an improved delivery method, handshaking protocol and other bug fixes.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.