Ford has just been awarded a new patent that may allow the giant auto company to enable cryptocurrency transactions for auto communication.
The patent is meant to allow vehicle-to-vehicle cooperation. It was published on Tuesday 27th of March 2018. The patent focuses on different ways to reduce traffic congestion including using communication between vehicles to coordinate speed. This will, to a degree, contract the psychology of drivers who only care about their time and preferences while driving.
The document states that there will be a Cooperatively Managed Pass and Merge (CMMP) system that will allow the monitoring, and, evaluation of driving behavior.
The application states:
“The proposed system will allow certain cooperative vehicles to temporarily drive at higher speeds in lanes that aren’t too occupied. They will merge and pass when needed without interference. The other participating vehicles will voluntarily occupy the slower lanes allowing the consumer vehicles to merge and pass when needed.
This will be powered by a cryptocurrency called CMMP tokens. It will facilitate the transmission of messages between various vehicles.
The patent continues:
“The CMMP operates with token-based transactions where merchant vehicles and consumer vehicles trade units of crypto. These tokens are used to validate as well as authorize transactions between the merchant vehicles and the consumer vehicles.”
The tokens will also be used as an on-the-road credit within the proposed system.
The time allotted to the consumer vehicle’s request will depend on the tokens the customer chooses. It will be spent at a particular time.
Although Ford hasn’t given out too much information about how much the system will depend on blockchain, a job posting by the company last year suggests that the company was on the hunt for a blockchain specialist. As time passes, more information about the technology will be revealed.