India, Jan. 21 -- A working group of the Mobility Open Blockchain Initiative (MOBI), led by BMW and Ford, released the second installment of the industry's vehicle identity (VID) on blockchain. The VID II working group advanced a blockchain-powered VID solution that could help second-hand vehicle buyers avoid cars with incorrect mileage, maintenance, or damage histories.

Others in the VID II working group are Accenture, AWS, AutoData Group, Bosch, Car IQ, DENSO, DMX, Hitachi America, Ltd., Honda, IBM, Kar Auction Services, Luxoft, Quantstamp, Ownum, and USAA.

"We expect this network for frictionless transfer of value in the New Economy of Movement to open up trillions of dollars of new opportunities to monetize vehicles, services, data,...