BMW, GM, etc., the world's top five automakers, collaborate to test block identity-based automotive identity systems

According to Cointelegraph on October 14, the top five automakers – BMW, GM, Ford, Renault and Honda – will test a blockchain-based car identification and payment system in the US next month.

Bmw-918408_960_720 Image source: pixabay

Car digital identity and autopay features

The Nikkei Asian Review reported on October 14 that the collaboration was designed to test a vehicle identification system developed by the Mobility Open Blockchain Initiative. The system uses blockchain technology to correlate digital identity information related to owner identity, service history and wallet with the car, allowing the car to automatically pay for the cost without the need for dedicated hardware.

According to reports, the alliance plans to apply the system to networked electric vehicles, so that when these cars are charged, they can automatically record and pay for tolls, maintenance and parking fees.

Mercedes-Benz also loves the blockchain

In September of this year, Mercedes-Benz's parent company Daimler AG and mechanical engineering company Durr AG developed Marco Polo at blockchain software company R3. A pilot transaction was conducted on the trade finance blockchain network.

In August of this year, the automaker also worked with Frankfurt Bank and Commerzbank to test block-based machine-to-machine payment functions for trucks.

According to a Cointelegraph report in September, Indian carmaker Tata Motors hopes to integrate blockchain solutions into its internal processes as part of a newly launched start-up project. The company's blockchain-based solution envisions will involve parking market, demand forecasting algorithms and real-time monitoring of fuel quality.