Self-driving cars could soon navigate the world via micropayments

With autonomous vehicles already debuting on our roads and in our airspace, you’ve probably grown accustomed to the idea of a new future for mobility. But what you may not have wrapped your head around yet is that these vehicles could create a whole new marketplace that makes transportation safer, greener, and more efficient.

Mobility Open Blockchain Initiative (MOBI), a nonprofit consortium that counts the majority of the world’s large automakers as members, including BMW, GM, and Ford, as well as The World Economic Forum, Bosch, Denso, IBM, and Accenture, kicked off a three year “Grand Challenge” fueled by over $1 million in prizes. Winners were just announced for the first phase, focused on the building blocks of next-generation mobility networks and drawing competition from 23 teams across 15 countries.