Friday, April 16, 2021

Ripple Joins MOBI, the Initiative of BMW, IBM, Ford, General Motors, Renault, Bosch and Others

Ripple, the cross-border payment giant, has joined the Mobility Open Blockchain Initiative (MOBI). This initiative was established about two years ago, aiming to leverage blockchain functionalities in a new digital mobility environment.

According to the report, MOBI has a strong relationship with companies that manufacture the majority of vehicles in use across the world.

The initiative of this formation comprises of BMW, Renault, Bosch, General Motors, and Ford, including very large companies like IBM, Accenture, and some blockchain companies such as Hyperledger, IOTA Foundation, and ConsenSys.

MOBI has added Ripple to its directory, which indicates the confirmation of its membership in the initiative.

Ripple Joins MOBI, the Initiative of BMW, IBM, Ford, General Motors, Renault, Bosch and Others

On its official website, MOBI describes Ripple as follows:

“Ripple is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open-source protocol and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes. Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.”

However, the role Ripple could play in the initiative is still unknown, but MOBI could leverage the use case of Ripple and XRP in terms of payment. According to MOBI’s Whitepaper, it plans to launch a number of projects by the end of the year.

Ripple’s Head of XRP Markets Leaves Job

According to Cointelegraph, Ripple seems to have lost its second executive of 2020, after Miguel Vias, the Head of XRP Markets updated his LinkedIn status to indicate the end of his tenure in the blockchain tech.

Vias joined Ripple in 2016, after a five-year role as the CME Group’s Global Head of Precious Metals Options. During his tenure at Ripple, Vias was in charge of devising a strategic partnership for xRapid. He also oversaw XRP sales surpassing $1 billion in value.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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