Honda and General Motors-led working group Mobility Open Blockchain Initiative (MOBI) has revealed a global standard for using distributed ledger technology (DLT) to create decentralized electric vehicle charging networks.
It has been reported that 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.
However, MOBI’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 “vehicle-to-grid-integration,” “tokenized carbon credits,” and “peer-to-peer applications.”
The Electric Vehicle Grid Integration standard is aimed at using electric cars as storage for renewable energy, with transactions recorded on the blockchain https://t.co/FkuCcL2Lb5 — Cointelegraph (@Cointelegraph) October 8, 2020
Tram Vo, the founder and COO of MOBI, said that the standard will offer benefits to firms representing “all sides of the electric vehicle and charging ecosystem.
Vo added:
“Electric 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.”
Likewise, the EVGI standard is chain agnostic, seeking to ensure that “pertinent data attributes and functionalities of each use-case are available for organizations to utilize in creating their own applications.”
According to the report, the EVGI Working Group launched in May, with top automotive companies Honda and GM co-chairing the organization.
Distributed ledger technology firms Accenture, IBM, the IOTA Foundation, and R3 are also notable members of the group.
Christian Köbel, the Senior Project Engineer at Honda R&D Europe, emphasized the “massive transition” the energy sector is currently undergoing from “centralized power generation in big power plants, towards more distributed and volatile power generation.”
Thus, he added:
“Decentralization 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.”
Source: Cointelegraph