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BMW, Renault, General Motors, Honda, Ford to Pilot Blockchain Project

Tim Alper
Last updated: | 1 min read

Some of the world’s leading carmakers will begin a pilot for a blockchain-powered vehicle identification platform. The project might let the drivers of electric vehicles pay parking fees, maintenance fees, rest stop service fees and highway tolls charges faster and more effectively, without making use of cash, smartcards or credit/debit cards.

Source: iStock/Milkos

The pilot, which will begin in November in the United States, will see BMW, Renault, General Motors (GM), Honda and Ford utilize sensor- and card-free digital ID solutions via a blockchain platform. The platform will allow parties to check on data including vehicle ownership and service history.

Drivers will be able to use of a range of services without stopping to pay for anything – and would instead be charged for all accumulated expenditures when they plug their vehicles in to top up batteries.

Per Nikkei, Honda and GM are also hoping to collaborate on blockchain-powered token rewards systems that “could result in electric-vehicle owners being compensated in digital currency for feeding power into [public grids] during an outage.”

As reported, the above mentioned carmakers alongside with partners from the blockchain and other industries launched the Mobility Open Blockchain Initiative (MOBI) in May 2018. The initiative aims to explore blockchain for use in a new digital mobility ecosystem that could make transportation safer, more affordable, and more widely accessible, they said back then.

Automakers are becoming increasingly interested in all things blockchain and crypto-related. As previously reported, Mercedes Benz owner Daimler is currently exploring the idea of fitting vehicles with a digital wallet for cryptocurrencies.

Siemens, meanwhile, is looking into blockchain-powered car-sharing solutions.

Jaguar Land Rover has a partnership in place with the operator of IoT-themed cryptocurrency IOTA. The project could eventually see drivers rewarded in crypto for allowing their cars to automatically report road condition information.

And automaker Hyundai has launched a cryptocurrency of its own through a European subsidiary of its Hdac blockchain business arm. Earlier this month, Hdac announced it would be spending USD 10 million on blockchain-related business ventures before the end of 2019, with a mainnet in the pipelines and new motor-related Proof of Concept (PoC) developments planned.