Five major automakers — BMW, General Motors (NYSE:GM), Ford, Renault (PA:RENA) and Honda — will start testing a blockchain car identification and payment system next month in the United States.
Nikkei Asian Review reported on Oct. 14 that the partnership aims to test the vehicle ID system developed under the Mobility Open Blockchain Initiative. As part of the project, cars are assigned digital IDs linked to ownership, service history and a wallet allowing the vehicle to automatically pay fees without specialized hardware.