Telecom giant AT&T applies for a patent for digital currency payments, is it going to integrate Bitcoin and other technologies into cars?

Digital currency payments in motor vehicles may not be far behind if a new patent application from telecommunications giant AT&T comes to fruition.

Yesterday, the U.S. Patent and Trademark Office (USPTO) published the patent application, "Vehicle system with system report generation function and method of use thereof." However, the seemingly bland document with the title is a concept of integrating cryptocurrency payments into vehicles, and the patent applicant is AT&T Mobility, a subsidiary of AT&T.

According to the description in this patent document:

“A processor is configured to perform various operations, including generating a vehicle report based on the vehicle data; generating a digital currency record according to a cryptocurrency protocol, the record being unique to the vehicle report, wherein the record is capable of indicating a digital currency value associated with the vehicle report. The digital currency record is stored in the memory and associated with a purchase of a good or service by a customer, wherein the value of the digital currency is credited to the purchase price of the good or service.”

It’s worth noting that this patent application is different from other iterations of blockchain-based cryptocurrencies and other electronic currencies — some of which, like Beenz and e-gold, have not stood the test of time.

The patent application also mentions some specific cryptocurrencies, including Bitcoin and Monero.

The document goes on to describe what these payments might actually mean using a number of concepts, including that the making of micropayments is inherently dependent on what happens during driving.

The document explains:

"For example, one hour of highway travel might cost only one dollar, but that value could increase based on detected road conditions, such as pothole markings, damaged road signs or malfunctioning traffic signals."

This is the second patent AT&T has applied for related to blockchain technology. Last October, UASPTO published a patent AT&T applied for for a home user server that utilized blockchain technology.