Ford plans to improve traffic with their new token system

Ford filed a patent for a new token-based car-to-car communication system to reduce traffic congestio
28 March 2018   451

Traffic congestion is one of the most widespread problems in large cities. And now Ford plans to improve the situation with their new system.

The application to US Patent and Trademark Office was submitted yesterday, March 27, 2018. In this patent application Ford plans to focus on the drivers' attitude towards each other.

“Traffic congestion occurs when one or more lanes of a multilane road are blocked, for example, because of a construction or an accident. The blocked lanes reduce the flow rate of vehicles through the section of the road with the blocked lanes. The reduced flow is compounded due to the psychology of human drivers who focus on their individual travel time preferences.”, is stated in the patent.

Ford plans to utilize a new CMMP token - “Cooperatively Managed Merge and Pass” to make travel faster and easier for everybody with their Cooperative Adaptive Cruise Control system. People who allow other drivers to merge into their lane will be rewarded with the said tokens. Or, for example, one can exchange tokens when “occupying slower lanes of traffic”. And if you're in real hurry or are late for the meeting, you can request other drivers on your way to let you pass for the price paid in CMMP.

So, if you think about other people on the road, you get tokens for it, and then you can exchange them for a faster way to get somewhere when you are in a dire need.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   53

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.