HONDA AND GM ARE EXPLORING THE POSSIBILITY OF STORING ELECTRIC VEHICLE DATA ON THE BLOCKCHAIN

Major car manufacturers, Honda and General Motors (GM), are exploring the possibility of using Blockchain technology to store electric vehicle data.

As part of the project, Honda and GM will explore the possibility of using technology to stabilize power supply in intelligent power systems. In particular, the companies intend to develop a method that will allow owners of electric vehicles to receive a fee for storing energy in batteries and sharing it with project participants.

The parties will work within the international technology consortium Mobility Open Blockchain Initiative (MOBI), which is focused on the use of Blockchain for control and management of data related to the automotive industry. More than 30 companies participate in the project, including Bosch, Hyperledger, IBM and IOTA.

Earlier, GM filed a patent application for a Blockchain solution for Autonomous vehicle data management. The American automobile giant has also signed a cooperation agreement with Spring Labs for developments in the field of data security.