KAR Joins Blockchain Initiative

By Staff Writer July 26, 2018

KAR Auction Services Inc. has joined MOBI, the Mobility Open Blockchain Initiative. MOBI is a member-driven consortium of global automotive industry leaders exploring blockchain technology for use in the digital mobility ecosystem. KAR is the first auto remarketer to join MOBI and collaborate with international automotive OEMs, new mobility technology companies, government agencies, and leading consulting and financial services firms, to put forward interoperable solutions. 

Working in a consortium allows MOBI and its partners to reduce fraud risks and lower mobility transaction costs.

Through MOBI’s open-source approach to blockchain software tools and standards, KAR hopes to collaborate on the development of standardized blockchain-enabled vehicle data and mobility services applications.

Last modified on Thursday, 26 July 2018 12:42

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