Global exchange: The automotive company, Ford, is considering Blockchain technology to ensure that vehicles operate efficiently in low-emission zones. Ford tests blockchain technology for higher fuel efficiency and cleaner air.
The auto-giant has announced that it is extending its European plug-in hybrid electric vehicle (PHEV) test to Cologne.
Gunnar Herrmann, chairman of the management board, Ford-Werke GmbH said:
“Security, trust and transparency of emissions data are of paramount importance to all stakeholders in this project, and are key for our vision of cleaner air in the city.”
This is part of a collaborative program called SmartCity Cologne to promote climate protection and energy transition.
Ford will also explore how revolutionary geofencing and blockchain technology can help track the number of “clean miles” traveled by vehicles efficiently and increase them.
Low-emission zones are being implemented in Cologne, to address air quality issues by preventing the most polluting vehicles from passing into them.
Nonetheless, these areas can pose difficulties for the cities to enforce and manage them, as well as for drivers to understand where and when restrictions are in place. That’s where Ford’s innovation pilot for geofencing and blockchain can aid.
Nonetheless, the use of blockchain technology in real-world scenarios, mainly in sectors other than financial services, is noteworthy.
The company also claimed that the technology of dynamic geofencing also ensures that vehicles can adapt to changes in emission zones in real-time.
In the future, blockchain is expected to continue to offer confidence and accountability, serving other industries and various government bodies as an effective tool- Globalxchange.
According to a recent report by Nikkei Asian Review, five major car manufacturers, including Ford and BMW, will start US field tests next month for a blockchain vehicle identification system that will allow drivers to pay highway tolls and parking tickets automatically.
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