CarBlock will develop a transport data platform powered by blockchain and they will utilize the Ontology chain network model with their intelligent vehicle hardware. The use of big data aims to help create a “brand new smart transport ecosystem.”
Where this partnership will lead remains to be seen, but it could signal the first step in the development of a massive network of smart cars which continuously collects data from their context and surroundings.
Jia Li, Founder of CarBlock, said that CarBlock would ‘use our abundant industry resources as the fastest growing blockchain application in the automobile industry’ and going forward would “promote the Ontology ecosystem.”
The planned integration of blockchain technology into cars has been led by CarBlock who are keen to tap into the one trillion US dollar rated market.
The unified platform will be able to use Ontology trust technology to verify car owners to ensure a functional and secure ecosystem which is transacted using CAR tokens and could allow users to purchase a variety of data, such as local gas prices and road conditions.
Announcing this partnership serves Ontology’s ‘real economy strategy,’ which ultimately aims to create a global ecosystem for a secure and trusted economic system.
Meanwhile, Jun Li of Ontology also commented: “We are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of our real economy strategy.”
“Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem.”
The announcement signals steps from Ontology toward achieving many significant goals in the provision of diverse solutions for real-world applications of blockchain technology.
First impressions suggest that the two companies could be a good match – CarBlock could look to hand the selling of data back to its producer, often the consumer, with untold potential in a world where data is to be collected and traded on a scale unimagined today. Combining IoT solutions from CarBlock with Ontology’s blockchain network model could be highly useful to this end.
Callum reports on developments in the cryptocurrency world and offers a take on the future of the blockchain. Can often be found with a cup of tea reading an altcoin whitepaper.