Top-tier automobile manufacturers want the creation of blockchain-based standards that would be used to measure carbon outputs from electric vehicle batteries. Batteries account for about half the CO2 generated in the production of electric vehicle. The car manufacturer desires to encourage more effective management of batteries that would positively impact the environment.

According to a report by Nikkei Asia, the Mobility Open Blockchain Initiative (MOBI), which counts Ford Motor, Honda Motor and Japanese trading house Itochu among its members, will lead the development of the standard. Japanese auto parts maker Denso, Amazon Web Services and IBM will also participate.

MOBI would likely make use of a two-dimensional barcode and sensors that would monitor data in the blockchain process. The data that is gathered at each stage will be looked into by MOBI including transportation, procurement, and production.

About 20 million vehicles are produced under the umbrella of MOBI group of four vehicle manufacturers. This number accounts for about 20 % of the total car market production. Another automobile manufacturer Ford is looking to adopt the development to standardize the car industry.

The new development follows the announcement from the executive arm of the European Commission that will set regulations for the use of batteries in 2024. Battery productions that require carbon dioxide will be monitored at production, distribution, use, and disposal processes.

Launched in 2018, MOBI was created by consortium of reputable companies ranging from automakers like BMW to tech giants like IBM. The group is poised to explore blockchain for use in a new digital mobility ecosystem that could make transportation safer, more affordable, and more widely accessible.

Last year in October, MOBI's member-led Electric Vehicle Grid Integration (EVGI) Working Group created and launched the automotive industry's first global standard incorporating blockchain technology into a decentralized vehicle charging system.

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