What is required to move those forward, he said, is a decentralized business network.
“You really have to have common standards and common ways for cars to communicate, to identify themselves and make payments,” Ballinger told CoinDesk, adding:
“But if each auto company is trying to develop its own car wallets or its own way of paying tolls, or providing a ride sharing service, it just doesn’t work; it’s the Tower of Babel.”
Dan Harple, the CEO of Context Labs, who is working closely with Ballinger, said the new consortium’s first step will be to establish a “minimum viable ecosystem” for gaining network effect.
Source: BMW, Ford, GM: World’s Largest Automakers Form Blockchain Coalition – CoinDesk, Ian Allison, May 4, 2018