Ford Motor Company (NYSE:F) Proposes Use Of Cryptocurrencies To Ease Traffic Congestion


Ford Motor Company (NYSE:F), a US-based manufacturer applied for a patent recently to the US Patent and Trademark Office (USPTO) to facilitate vehicle-to-vehicle communication based on the cryptocurrencies to enable ease of the traffic congestion in major towns and cities.

Traffic jam is usually caused by the human drivers who concentrate on the individual travel time tastes and preferences. The patent on traffic congestion will help in tackling the problem of individual preferences by offering a Cooperatively Managed Merge and Pass (CMMP) platform.

If approved, the patent will enable the vehicles to have communication models and a cruise system to help in communicating with a network of vehicles through the exchange of CMMP coins. The individuals will switch their priorities to the group flow rate thus reducing the traffic congestions.

At the same time, a Detroit-based car manufacturer has applied for a patent to USPTO for ‘cooperative vehicle’ platform that uses the cryptocurrencies. The patent is believed to ease the traffic jam by harmonizing the individual vehicles into a huge traffic roadblock. The vehicles will also form a unit upon encountering traffic congestion.

The cars will further coordinate and travel at the same speed at certain junctions. Furthermore, in case the driver is running late for a meeting, a request is sent to all the vehicles in the block to allow them to pass in exchange for a number of crypto coins.

Other firms that are embracing the new innovative blockchain technologies include the Daimler AG, a subsidiary of Mercedes-Benz based in German that has launched a Blockchain-based virtual currency that instantly rewards the responsible and environmentally-friendly drivers with tokens.

Toyota Motors Corporation has also adopted a similar digital innovation. Last year, the company announced that it’s planning to launch blockchain technology system to collect and analyze data on robot cars.

Standard movements of vehicles will also help in regulating the speeds of vehicles within a certain area thus reducing the individual travel time preferences that cause huge traffic. The cryptocurrency system will help in benefiting all the drivers on the road.


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