Altcoin News: BMW, GM, Ford, Renault and Honda Are Testing a Blockchain Payment System for Cars
October 14, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
According to Nikkei Asian Review, five major automakers will begin operational testing the vehicle identification system, which will allow drivers to automatically transfer payment for parking or travel without the need to resort to using cash or bank cards.
The project is a joint initiative of BMW, General Motors, Ford, Renault and Honda, who developed a vehicle identification system for use in the United States as part of the international Mobility Open Blockchain Initiative consortium.
According to the developers, the system will allow you to assign individual identifiers to cars, associating with them information about the owner and service history. In the future, they intend to begin to enter into the system data on goods and services provided to the driver on the road, including purchases in roadside cafes. Payment of all bills will be carried out at a time when connecting the car to the charging station if there is an appropriate opportunity in it.
In July, it became known that German automobile concern Daimler AG, which owns the Mercedes Benz trademark, is creating a hardware wallet based on blockchain technology for its cars. The development of the company will allow the creation of cryptographic identifiers of vehicles and equip them with telematic command modules, thanks to which they will be able to receive, sign and evaluate information from sensors located both on the machines themselves and in their environment.
Author: Marko Vidrih
