World’s Leading Carmakers Will Start A Pilot For Blockchain Projects

The world’s leading carmakers will start a pilot program for blockchain-based projects which will serve for the future blockchain vehicle identification platform. As we are about to read in the blockchain news below, the new project could lead the drivers of electric vehicles to pay parking fees and maintenance fees including highway tolls much faster and more efficient without making use of cash or credit/debit cards.

The pilot which will start in November in the United States will see Renault, General Motors, Honda, Ford and BMW utilizing sensor and card-free digital ID solutions via a blockchain platform. This platform will allow the parties to check on the data including the owners of the vehicles and the service history. The drivers will be able to use the huge range of services without stopping to pay for anything and will be charged for all expenditures when they plug their vehicles to fill the batteries. According to Nikkei, GM and Honda are also to join the World’s leading carmakers group that will work on the blockchain project by also working on a token reward system that will result in electric vehicle owners to be compensated in digital currency for feeding power into the public grids during an outage.

As reported, the previously mentioned carmakers alongside blockchain partners from the industry launched the Mobility Open Blockchain initiative back in 2018. This initiative aims to explore the blockchain for use in a new digital mobility ecosystem that can make up for safer transportation and open access as they stated back then. The automakers are becoming heavily interested in all of the things the blockchain industry has to offer.
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Currently, Mercedes Benz and Daimler are exploring the idea of fitting vehicles with a digital wallet for cryptocurrencies. Simens on the other side is looking to implement blockchain-powered car-sharing solutions. Jaguar Land Rover partnered with the IoT-based crypto IOTA aiming to reward the drivers in crypto for allowing their cars to automatically report road condition information.

The carmaker Hyundai also launched a cryptocurrency of its own via the European Subsidiary of Hdac blockchain business arm. Hdac announced that they will spend up to 10 million USD on blockchain-related business ventures and we can’t wait to see what they plan in the next cryptocurrency news.