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Automobiles

Blockchain turns cars into payment vehicle for drivers

Honda, BMW and others help develop automobile ID system set for US trials next month

TOKYO -- Five major automakers including Honda Motor begin field tests next month in the U.S. for a blockchain-based vehicle identification system that would let drivers automatically pay parking fees or highway tolls without using cash or cards.

The partnership, which also includes Renault, BMW, General Motors and Ford Motor, developed the vehicle ID system under the Mobility Open Blockchain Initiative, an international consortium supporting such projects.

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