The Blockchain an autonomous self-driving cars
The combination of an autonomous vehicle and the ease of use that cryptocurrencies provide to it are staggering. When we think about cars like Tesla that has self-driving features it is also possible to pay the car to drive and pick up particular things or individuals without a driver. This is very feasible by simply programming the cryptocurrency into the car system.
Self-driving cars were also once a sci-fi thing, which today is no longer the case. The Blockchain opens up a lot of opportunities for the communication with other devices, programs with programs and machines. There is currently a huge hype for the making of fully electronic and self-driving autonomous vehicles. These cars will need a way to communicate with each other, and cryptocurrency seems to be the technology that is most fit to achieve this integration. This will transform the automotive industry as we know it.
The impact of Driverless Vehicles
The limitations are bad for the autonomous and driver-less vehicles these days, as these start-ups are using the power of the Blockchain to create a better more effective financial system. Paying the car directly for its services with cryptocurrencies may still take a few years, but developments are happening everywhere everyday fast. Can cybercriminals hack databases of a driverless car, or is this something that can easily be solved with currencies.
The way Self-driving cars function is by using machine learning and algorithms in order to ensure safety and security of the car with the passengers it carriers. The cars go through millions of algorithms per hour in order to make user driving data applicable. The autonomous vehicle would also want to pay for its own recharge, parking, and maintenance of the car.
The Blockchain allows for seamlessly fast transactions, with transparency and a decentralized ledger, where the data is created and stored on the Blockchain, which can never be changed. The Blockchain technology will help driverless cars to be able to verify data much more accurately before collecting it. This would also create a much smaller room for errors to occur.
Why is the Blockchain so relevant to autonomous vehicles
Thanks to the decentralized nature of the Blockchain and its distributed ledger, all incoming information that is coming in from various sources are safely stored in a database. This system allows for the probability of hackers becoming extremely low and negligible.
The Blockchain facilities monetary transactions by allowing users to activate smart contracts on a Blockchain platform to make payments automatically. By using the smart contract on the Blockchain it is possible to make a payment directly to a charging station or charging dock. This is what companies like eCharge are doing by offering a built-in token to pay for all charging needs, the token is called ECHG and can be bought using Bitcoin or Ether.
The autonomous vehicle industry has been changing the way data is being transferred, the Blockchain can also record data such as traffic conditions and climate conditions. These kinds of data become valuable to the Blockchain network, by helping autonomous vehicle systems to become more reliable and fast.