March 29, 2019- Celer Network, the most advanced layer-2 scaling platform is thrilled to announce the new partnership with Mobility Open Blockchain Initiative (MOBI), a nonprofit smart mobility consortium working with forward-thinking governments, NGOs, and well-known automakers like BMW, Ford, and General Motors. Celer Network will be actively involved in the consortium and drive blockchain scalability solutions forward in partnership with MOBI.
Celer Network had previously worked on a Proof of Concept project with one of the biggest automotive original equipment manufacturers on Electric Vehicle Peer-to-Peer Power Exchange powered by Celer’s instant off-chain transaction blockchain transaction capability. Integration with Celer Network’s layer-2 scaling solutions solves challenges on high transaction fee and limited volume per second on blockchain use cases of mobility services. Celer platform has already achieved 10,000X transaction latency reduction and 100X fee reduction for micro-payments on Ethereum comparing to directly transacting on Ethereum. This proof-of-concept project indicates the potential value proposition Celer Network’s technology in the mobility industry sector, which naturally led to a partnership between Celer Network and MOBI.
“Celer Network is honored to partner with MOBI to expand blockchain use cases in the mobility industry”, says Celer Network’s co-founder Dr. Mo Dong. “Celer Network’s real-time and low cost blockchain transaction capability will bring significant efficiency improvement and brand new use cases to the emerging telematics market.”
Working with over 100 of the world’s well-known automakers, companies, and NGOs, MOBI has built a solid ecosystem to promote standards on end-to-end solutions for future multi-modality e-mobility solutions, such as vehicle identity and electric vehicle grid integration. Celer Network will work closely with MOBI’s working groups and contribute to the blockchain scalability expertise to accelerate the development and adoption of blockchain-enabled vehicle use cases and standards for mobility services.
Media Contact: Windy Wang
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About Celer Network
Founded by four PhDs from MIT, Princeton, UC Berkeley and UIUC, Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics. For more information, visit: https://www.celer.network/
MOBI is a nonprofit smart mobility consortium working with forward thinking companies, governments, and NGOs to make mobility services more efficient, affordable, greener, safer, and less congested by promoting standards and accelerating the adoption of blockchain, distributed ledger, and related technologies in the mobility industry. MOBI hopes to build a worldwide network of cities, infrastructure providers, consumers, and producers of mobility services in order to hasten the adoption of this technology and realize its many potential benefits. For more information, visit: https://dlt.mobi/#about.