Large car manufacturers will test blockchain payment system
BMW, General Motors, Fords, Renault and Honda will begin receiving car payments next month
Five car manufacturers BMW, General Motors, Fords, Renault and Honda plan to provide the market with self-financed vehicles as well as digital IDs, with the aim of stimulating a car identification system developed around the Mobility Open Blockchain initiative in the market, as reported by Nikkei Asian Review.
This digital identification will be linked to the ownership of the vehicle in order to facilitate payments as well as automatic cancellation of fees without the need for specialized hardware.
In the future, this system is expected to be adapted to connected electronic vehicles so that tolls, maintenance and rest stop purchases can be registered and paid automatically when the vehicle is plugged in to charge its battery.
Visionary parent companies
To the extent that the automotive industry is evolving the parent companies are also adding to the momentum of a future promoted by blockchain. Mercedes-Benz, Daimler AG and the mechanical engineering company Dürr AG have carried out a pilot operation in the Marco Polo commercial financing network of the blockchain software company R3.
Likewise, the Indian car manufacturer Tata Motors plans to incorporate blockchain solutions into its internal processes, as part of a newly launched program for startup companies. These solutions are related to blockchains planned by the company and also include a parking market, a demand prediction algorithm and real-time monitoring of fuel quality.
K.Villarroel
Source: cointelegraph
