IOTA (MIOTA), Cardano (ADA), and Tron (available on Binance) (TRX) continue to climb in a field of green in the crypto sphere today. What’s happening?

IOTA (MIOTA)

IOTA (MIOTA) is currently selling for $2.18, which puts the coin up 16.64% in the past 24 hours.

Source: CoinMarketCapThe IOTA Foundation has announced its participation in the creation of a new mobility industry consortium aimed at developing Distributed Ledger Technology (DLT) standards, pilot projects, and open source software tools. This new consortium is called the MOBI Alliance (MOBI stands for Mobility Open Blockchain Initiative).

The IOTA Foundation is really happy and proud to be part of the MOBI Alliancehttps://t.co/32snXr0nKP#IOTA
— IOTA (@iotatoken) May 2, 2018

The MOBI Alliance, in addition to IOTA, is made up of leaders in the mobility and DLT industry, including Bosch, Groupe Renault, BMW, Ford, General Motors, and ZF.

Why DLT? DLT helps to improve driving safety and affordability, supports autonomous and electric vehicle development and infrastructure, emphasizes ride and car-share programs, and connects mobility participants in a peer-to-peer ecosystem.

IOTA’s role in the MOBI Alliance will revolve around finding ways to use blockchain and DLT to create a digital mobility ecosystem. This digital mobility ecosystem would help make transportation safer, more affordable, and more widely available. IOTA and the other members of the consortium will be working towards a digital environment in which businesses and consumers can securely record driving data, manage ride and car-share transactions, and store vehicle identity and usage information.

You can read more about the MOBI Alliance here.