October 25, 2020

Major automakers test payment blockchain system

Major automakers test payment blockchain system

In November, five major automakers will begin testing a new blockchain identification system. Transportation in the United States.

Automotive giants - BMW, Ford, General Motors,Honda and Renault - intend to start field trials of the new blockchain-based identification system, which will have various applications, and will automatically track and pay tolls and parking fees, fines and even service at the service station.

Specially designed to fit the newgeneration of electric vehicles, an ID system based on a distributed registry will assign digital identifiers to each driver. Payments and data will be processed automatically during car charging.

The new system was developed as part of the Mobility Open Blockchain Initiative (MOBI), a consortium to study the use of blockchain technology in the transport sector, announced last year.

Car companies are increasingly usingblockchain potential. Jaguar Land Rover is collaborating with the IOTA Foundation to create its own blockchain, while Daimler, the parent company of Mercedes-Benz, is developing a car wallet from Riddle & Code.

Hyundai Motor Group South Korean Division,Hdac Technology, announced plans to create a $ 10 million blockchain investment fund, and even issued its own crypto token, Hyundai (HDAC).