Decentralized blockchain protocol Minima today announced that it is one of the eleven global start-ups chosen by MobilityXlab to create innovative mobility solutions with industry leaders in Vehicle and mobile communication.
MobilityXlab Chooses Minima to Create Innovative Mobility Solutions
For the uninitiated, MobilityXlab works closely with some of the global leaders in the mobility solutions space such as CEVT, Ericsson, Polestar, Veoneer, Volvo Cars, Volvo Group & Zenseact.
The representatives from the organizations are involved in every part of the process, from screening new applicants to leading the collaboration programs. Further, a prerequisite to being invited into the program is that the start-up must be selected by at least two of its industry partners. This process not only reinforces knowledge sharing but also increases the outcomes for Proof-Of-Concept (PoC) and validation projects.
Notably, from August onwards Minima will partner with the leaders in mobility solutions to develop Vehicle-2-Vehicle communication. During the program, Minima will demonstrate a decentralized network of globally connected devices/cars that benefit from the security of the blockchain distributed across all participating nodes.
In addition, the mechanism will enable cars to be autonomous economic units with guaranteed security of data. The P2P network of connecting nodes also facilitates char and communication features for users to exchange messages and information. Besides, the fact that cars are running nodes also paves the way for rewards, sharing, and loyalty programs.
Transforming the Automobiles Industry
For the uninitiated, MobilityXlab was launched in 2017. To date, 80 start-ups have been part of MobilityXlab with 12 commercial contracts or partnerships reached after its 6-month program.
Commenting, Katarina Brud, Director at MobilityXlab said:
“To keep up with the rapid pace of innovation and technology development, companies can’t rely on doing it on their own anymore. Our role is to foster access to a productive collaboration network for all parts involved.”
The car industry is witnessed a massive paradigm shift from people owning their vehicles to a renting economy. Accordingly, there is an urgent need for the car industry to generate value from cars such as ride-sharing, car rental, and charging.
Minima’s technology is an ideal fit to fulfill the rapidly growing need for immutable and censorship-resistant transfer of mission-critical data alongside rapid and cheap Vehicle-2-Vehicle communication.
Commenting on the development, Hugo Feiler, CEO at Minima said:
“We’re thrilled to be part of the MobilityXlab program and can’t wait to demonstrate the benefits of a truly decentralized network for mobility more broadly, and vehicle-to-vehicle communication in particular.
“When each car is a fully sovereign, functional node on the network, communication between them becomes more secure and resilient which we believe to be crucial for any future that involves autonomous vehicles.”