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Americans could soon make cryptocurrency transactions from their vehicles and arrive more quickly to their destinations. A subsidiary of Ford Motors, based in Dearborn, Michigan, has been granted a patent by the US Patent and Trademark Office for cryptocurrency-fueled technology to power its cars. This is what is known as the Cooperative Managed Merge and Pass (CMMP). It was filed in 2016 and has just been awarded to Ford Global Technologies.
CMMP is a token-based system that operates within its own ecosystem but also on the open road. It is a vehicle-to-car or car-to-car communication platform on which, at the request of participating drivers and thanks to GPS technology, cars can talk to each other about traffic. The system would also monitor and collect data on drivers, which, at a time when Facebook is plugged in for data sharing, could raise concerns.
“The CMMP system works with token-based individual transactions, where merchant vehicles and consumer vehicles agree to negotiate cryptocurrency units”, according to the patent.
It gives the mass-market vehicle “privileged access to lanes” during periods of heavy congestion, allowing it to sneak in and out of traffic for a price. The patent further explains: “commercial vehicles voluntarily occupy slower traffic lanes to facilitate the consumer vehicle to merge in their lanes and move on as needed.”
Merchant vehicles are paid in CCMP tokens to give the right of way to the consumer vehicle. The price depends on the time advantage demanded by the consumer vehicle.
The patent application explains –
“For example, a driver of a consumer vehicle late for an appointment may request to spend participating motor vehicles for a period of 10 minutes on a particular road or road for 60 tokens CMMP, at a rate of 10 seconds of preferential access by token. “
It does not say if other cryptocurrencies, such as Bitcoin or XRP, will also be supported.
Ford Tech Push
This sounds like a project that could be part of the ICO of a start-up, but Ford, which is committed to investing $ 11 billion in electric vehicles for the first time. in 2022, does not mention any fundraising plan. It is also investing heavily in mobile and is injecting more than $ 1 billion into artificial intelligence over the next half decade.
A token-powered system is a logical step in its push toward what CEO Jim Hackett has described as “smart vehicles in a smart world.” Hackett has been at the helm of the automaker for less than a year and has been brought to reinforce Ford’s technical profile.
Meanwhile, automakers have already shown an interest in blockchain technology, with Ford last year looking to hire an engineer with blockchain experience in mobile technology and Toyota in partnership with startups blockchain.
Image from Shutterstock to photo
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