Honda, GM explore blockchain tech, EV grid stabilization

EV owners could get paid when their vehicle's battery powers the grid.

Honda and General Motors have reportedly joined a research project that aims to explore how electric vehicles can be used to help stabilize the power grid.

The automakers are working on technology that would allow EVs to communicate with smart grids, potentially allowing EV owners to get paid if their vehicle's battery sends power into the grid during peak-load times, according to Nikkei Asian Review.

The work is being done under the umbrella of the Mobility Open Blockchain Initiative, a consortium of numerous automakers and other companies that are attempting to repurpose the cryptocurrency technology for the automotive and 'mobility' industries.

The Honda-GM research project is expected to kick off later this month.