Categories: BlockchainBusinessEditor's PicksInnovationNews

GM Wants Blockchain Patent For Data Management Of Autonomous Vehicles

General Motors (GM), the American car manufacturer has filed for a blockchain patent for the data management of autonomous vehicles. The U.S. Patents and Trademark Office (USPTO) published that application last week on November 29th.

Betting Big on the Blockchain Technology

The patent application notes that GM hops on the blockchain technology for “robust” and “secure” data distribution. Moreover, it talks about the seamless exchange of data between several automated vehicles and other entities like regional authorities, public facilities, and municipalities.

However, autonomous vehicles require “high degrees of integrity” for “temporal event data”. Thus the application stresses the blockchain technology is “desirable” for non-autonomous and semi-autonomous vehicles.

The patent filing notes,

“The blockchain technology ‘accomplishes [the] feat’ of ‘enabling a distributed consensus of trust where all transactions can be verified in the future by participants of the blockchain exchange without compromising privacy.'”

Using Blockchain Technology to Its Optimum Potential

The GM patent notes that blockchain can turn to be the most efficient information sharing catering to a range of practical needs. Blockchain can find an application in route navigation, refueling services, and availability of charging.

It can also play a crucial role to check the validity of licenses and permits of vehicles operating as “hacks, taxis, or other for-hire services.” Furthermore, it can maintain “balances for […] charges related to tolls, parking, car washes, and access to other fee-based services.”

The patent also advises on the security aspect of implementing blockchain use in autonomous vehicles. It says that it would be beneficial “to implement a blockchain exchange to push only approved, vetted, and secure, location-based information to the occupants of an autonomous vehicle.”

Using Blockchain to Interact With Traffic Management Systems

The patent explains the use of blockchain in autonomous vehicles to seamlessly interact with highway and traffic management systems. It mentions “an online or cloud blockchain ledger for entering and distributing information from the National Highway Transportation Safety Administration.”

Furthermore, blockchain can also store data related to “behavioral competencies” of the users of autonomous vehicles. The blockchain ledger can also store information related to “vehicle actions, driver behavior, and driver abilities to follow traffic rules.”

In addition to GM, several other automobile giants like Ford, BMW, Audi and Renault are testing the use of blockchain technology. These companies are experimenting for the next transitional shift in the automobile industry towards autonomous vehicles.

Risk Disclosure

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Join our Telegram Group To Stay Up To Date With Crypto News

 

B. Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills

Share
Published by
B. Akolkar
Tags: Autonomous VehiclesBlockchainGMLedgerpatentUSPTO

Recent Posts

  • Altсoins
  • Bitcoin
  • Exchange
  • News

Top Running Cryptocurrencies January 4th, 2019

One of the top performing cryptocurrencies of the day is REPO. REPO (REPO) is currently up 72.75% compared to USD…

5 years ago
  • Blockchain
  • Business
  • News

Gaming Giant Atari Plans to Bring Its Popular Games on Blockchain Platform

As the world is moving towards Blockchain, gaming giant Atari too wants to dip its toe into the emerging technology.…

5 years ago
  • Altсoins
  • Blockchain
  • Business
  • Exchange

Overstock’s tZERO Working on a Crypto Token to Trade Cobalt

Private equity firm GSR Capital has hired tZERO, an Overstock.com subsidiary, to develop digital token for trading cobalt. Overstock said…

5 years ago
  • Blockchain
  • News
  • Regulation

UAE Banks’ Advisory Council Consider Blockchain Adoption

On Monday, December 17th, Gulf News reported that the advisory council of the United Arab Emirates Banks Federation (UBF) can adopt blockchain use…

5 years ago
  • Ban
  • Business
  • Controversy
  • News
  • Regulation

French Financial Regulator Blacklists Four Crypto Websites

France's financial regulatory watchdog - Financial Market Regulator (AMF) is working aggressively to bring down unauthorized crypto companies. The AMF…

5 years ago
  • Altсoins
  • News

Digix Stablecoin (DGX) Comes With the Backing of Gold

There's a flood of new stablecoins hitting the cryptocurrency space in the last few months. A stablecoin is basically a…

5 years ago