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Switch the Gears Up – It’s Blockchain Time

Paying for parking, maintenance, highway tolls, and many more without taking out a single payment card or cash - sounds a lot like Blockchain.

A number of carmakers pilot a Blockchain identification platform for electric vehicles. This facilitates the overall car trip experience, meaning that you pay all transport related fees, tolls, and taxes for your electric car faster and more effective, without the hassle of cash and payment cards. Simply start charginh your car battery and you are all set. The carmakers include BMW, General Motors, Honda and Renault launch card-free ID payment solutions based on the Blockchain technology. This new platform will allow users to check up data for their vehicles and any repairment history or past issues. This will be the solution to the electric vehicles drivers who will put out their payments when they have their cars plugged in for topping up the batteries.

Honda and GM also hope to create a Blockchain-based token reward system. They aim to make the system in a way that “could result in electric-vehicle owners being compensated in digital currency for feeding power into [public grids] during an outage.”

In May 2018, the car manufacturers found the Mobility Open Blockchain Initiative (MOBI) along with their partners. This project had the idea to contribute to the digital ecosystem and make transportation easier, accessible, and most importantly – safer.

As it can be seen, auto companies show huge interest in Blockchain and Crypto. Daimler, the owner of Mercedez Benz, is said to currently explore the opportunity to introduce a digital wallet fitted for vehicles. Siemens is also interested in the Blockchain car solutions. There is another really great project that will allow cars report road conditions and their owners to be awarded with Crypto. The project is issued by Jaguar Land Rover with the Crypto IOTA.

On the other hand, Hyundai launched its own Crypto through its Blockchain business arm Hdac. The latter announced that they will be spending 10 million dollars on Blockchan business matters before 2019 ends.

And to top it all off, as a Cointelegraph report stated, an Indian car manufacturer Tata Motors wants to implement Blockchain with the vision of it to create parking markets with prediction algorithm and monitoring of fuel quality.

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