By next month, a blockchain method for vehicle identification which allows drivers make automatic payments without the need for cash or electronic cards, will begin testing in the United States. If successfully deployed, drivers wouldn’t have to actively worry about payment including parking or toll fees, anymore.
The vehicle identification method was jointly developed under the Mobility Open Blockchain Initiative, and includes Honda, Renault, General Motors, Ford Motors and BMW. The payment system will run by assigning unique digital identification to each car and these will be directly linked to payment information and service history of the owner as well. This way, cars will easily be “recognized” by the system and payments will be automatically made, hopefully relegating some of the current electronic tag methods being used for autonomous toll payments. All of the payments including maintenance, will automatically be recorded and deducted as soon as the car needs to be charged.
A few months ago, Honda and General Motors announced a research project will consider the possibility of using electric vehicles to help power supply in smart grids. According to the plan, there’s a good chance that the batteries in electric cars can tremendously help support supply of renewable energy for smart grids with alternative sources such as solar and wind. The plan is to also see the owners of these electric cars receive remuneration for their efforts, in digital currencies.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
