Cryptocurrency: Busting Through Red Lights

Cryptocurrency: Busting Through Red Lights April 06 2018

Hover cars may not be a thing yet but the future of cars is here. Have you ever been stuck in traffic when you are REALLY, REALLY late to an important meeting or had a screaming baby in the back or ice cream melting away, the people at ford have. Ford recently received a patent giving customers “preferential lane access” paid with cryptocurrency. The system that Ford will be using is called a Cooperatively Managed Merge and Pass and it’s a car- to-car communication system using blockchain. Enabled through the cars GPS, cars will be able to communicate among themselves about traffic patterns and navigate heavy traffic better by allowing customers to bypass the traffic for a price. Consumers can pay in cryptocurrency to be in faster, less occupied lanes while others can be paid in cryptocurrency, to occupy the slower more traffic heavy lanes. This big push in technology is part of Ford’s promise to invest 11billion in electric vehicles by 2022. This isn’t Fords first step into the land of blockchain, last year; in 2017 Ford hired engineers to develop some in house expertise on the subject. Ford CEO Jack Hackett has been quoted saying "We are looking for a strategic thinker and researcher to lead and pioneer work in the branch of Blockchain technology applied to mobility use cases that would help deliver superior user experiences for our customers,”. Ford wants to make “smart vehicles for a smart world”, this a huge leap.

Here are a few articles about Ford's patent using cryptocurrency: