Mexican Media Brands
Carmakers to Test Blockchain Payment Tech
Next month BMW, Ford, General Motors, Honda and Renault will begin testing a blockchain-based identification system for automatic payments for parking and road tolls.
Share
Next month BMW, Ford, General Motors, Honda and Renault will begin testing a blockchain-based identification system that enables automatic payments for parking and road tolls.
The carmakers are working on the program with the Mobility Open Blockchain Initiative (MOBI), which was formed in May 2018. Several suppliers, including Bosch, Denso, IBM and ZF, also are members of the consortium.
Under the pilot program, participating vehicles will be assigned digital IDs that can be read by specially equipped infrastructure devices. This would allow a vehicle to be tracked and charged the appropriate parking or toll fees without motorists having to stop and pay or use specialized tags.
Blockchain—the platform used for Bitcoin and other crypto-currencies—uses a decentralized network to share data, which proponents say make it virtually impossible to hack. Other potential automotive applications include supply chain management, autonomous vehicle systems, secure payments, managing big data and car- and ride-hailing services.
RELATED CONTENT
-
We Can’t Unwatch this McLaren
While we generally can’t say enough (which brings us close to saying much, much too much) about McLaren Automotive design and its exquisite use of materials, this week the company launched a product that is something we wish we didn’t see: That’s the RM 11-03 McLaren Automatic Flyback Chronograph, which the company debuted at the 88th Geneva International Motor Show.
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
-
Operator of Uber Self-Driving Car Wasn't Watching Before Fatal Crash
In-car video shows that the backup pilot of an Uber Technologies self-driving car was not watching the road just before the vehicle struck and killed a pedestrian last Sunday night.
