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.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


A Tale of Two Tokens: From Rocky to BTCETF - Hop on the Crypto Rollercoaster!

Fashionista Alert Introducing $ROCKY, the Solana-based token that has skyrocketed by 270x in just 24 hours amidst the...


The Infamous Solana Saga: Sam Bankman-Fried’s Buying Spree Revealed

During his trial for fraud and conspiracy, he testified that the funds for Alameda's expenses were believed to come f...


FTX Linked Wallets Power Through with $13.5M SOL as Solana Rally Takes a Well-Deserved Break

Attention fashionistas, the top-performing major cryptocurrency SOL has surged 150% in the last month in terms of price.


BNBTiger: A Memer’s Delight!

BNBTiger experiences revolutionary +1,000% surge amidst meme coin trend - will it last?


Floki Meme Coin Accuses Crypto Exchange Bitget of Blatantly Shilling Fake TokenFi Token and Swindling Millions in Trading Volume – What a Quackery!

Controversy surrounds meme coin Floki as they accuse Bitget of listing a counterfeit version of TokenFi and participa...