And it has just been issued a patent for it. Ford Motor Company has been granted a patent for a technology that makes use of cryptocurrency in alleviation of traffic congestion.
The vehicle manufacturer plans on integrating the technology in cars so that they can communicate with each other while driving. The idea being vehicles cooperating between themselves to marshal traffic on the road.
Patent number 9,928,746 has been published by the United States Patent and Trademark Office, which grants Ford Global Technologies the patent designed to alleviate traffic congestion.
This is the subsidiary in charge of owning, managing and commercializing patents and copyrights for its parent company, Ford Motor.
The process is question is called a Cooperatively Managed Merge and Pass system, or CMMP for short, and it incorporates cryptocurrency, allowing cars to communicate with one another. The whole thing is quite technical but seems to be most useful when someone is running late.
Basically, participating vehicles are defined as either consumer vehicles or merchant vehicles.
Consumer vehicles are the ones that drive at higher speeds in less occupied traffic lanes and are free to merge and pass when needed. The merchant vehicles voluntarily occupy slower traffic lanes and allow consumer vehicles to merge into their lanes and pass when requested.
Central to all this is the CMMP token, which authorizes the transactions of merging and passing. Merchant vehicles receive these tokens from consumer vehicles.
Of course, reducing traffic congestion is something that would benefit all.
However, for this system to work as intended, not only most cars on the road would have to be participating, but also the right balance of consumer and merchant vehicles would be necessary, along with people having to actually be willing to be the latter type.
But hey, you never know in the near future, most new cars might come equipped with gadgets and gizmos that not only handle crypto payments but also additional services like this that make going for one place to another a more streamlined experience.
In the meantime, buyers always have the option of paying for their next supercar in Bitcoins.