Thursday, July 26, 2018

Faraday Future Jumps On Blockchain Bandwagon

Los Angeles-based electric car developer Faraday Future--which was just rescued via a last minute funding lifeline in June--has yet to ship its vehicles, but has gone ahead and jumped on the Blockchain to "set global automaker standards for blockchain". According to Faraday Future, it has joined the MOBI Blockchain Consortium, where its FF Head of Product for Vehicle Software Platform, Shyam Sundar, will become part of key workgroups for MOBI. Faraday Future says that the group includes representation from such firms as Ford, BMW, Denso, Groupe Renault, and others. The MOBI group said that Blockchain is "being treated as next big thing after the internet" and that using blockchain and distributed ledger technology (DLT) could "make transportation safer, more affordable, and more widely available."