Honda Cars Now Have AI-Powered Fake Detection for Crypto Payments

Using AI to Detect Fake Articles

Major automobile manufacturer Honda does not accept cryptocurrency payments directly, but one can use cryptocurrencies like Bitcoin (BTC) to purchase a Honda car through a third party. In early October, several publications mistakenly reported that Honda had started accepting cryptocurrency as payment. However, a spokesperson for the firm clarified to Cointelegraph that Honda does not allow for crypto payments.

Honda did not respond to additional questions regarding their stance on crypto or if they are planning to integrate cryptocurrency payments in the future. Although direct crypto payments for Honda automobiles are not available, one can still use cryptocurrency payment platforms like FCF Pay to buy a Honda car.

AI can be used to detect fake articles and news. AI fake detection algorithms can be used to identify false information and AI fake generators can be used to create content that appears to be authentic. AI can also be used to detect fake articles about AI itself.

AI-Generated Fake Detection

As Joseph Parkin, Chief Operating Officer of FCF Pay, told Cointelegraph in early October, Honda isn’t the only car brand that can be purchased with cryptocurrency on the platform. Other car manufacturers such as Mercedes, BMW, Ford, Nissan, and Mitsubishi are also available.

According to Parkin, payments on FCF Pay are processed through the same payment system as cash payments in banks. He noted that crypto acts as digital cash or the “cash of the internet”. Currently, only companies that are part of the FCF Pay-deployed bill payment aggregation system can be used.

At present, the service is only available in the United States, but FCF Pay is collaborating with more partners to enable crypto-to-fiat bill settlements in Mexico, Latin America, Africa, and Asia. The bill payments system was launched in September 2023, with a $3 plus 2% fee for payments made in crypto coins like Bitcoin, Ether (ETH), XRP (XRP), Tether (USDT), USDC (USDC), and more.

Parkin commented that their goal is to onboard companies of all sizes and industries for direct crypto payments. He hopes that governments worldwide will recognize the advantages of making it easier for companies to accept crypto payments.

AI Detecting Fake News

FCF Pay COO Parkin clarified that the company has not entered into a partnership with firms such as Honda to enable crypto payments for Honda cars. “Our system allows customers to pay with cryptocurrency, but the nearly 21,000 companies that feature on the system receive fiat via our payment aggregator partner,” Parkin noted.

The news came at a time when FCF Pay was attempting to restore its page on X (formerly Twitter) after its account got suspended on Oct. 5. Parkin attributed the suspension to accusations based on the fake news that has been circulating. “We were being accused of claiming partnerships with the companies on our bill payments system, whereas we were actually trying our absolute best to dispel these misrepresentations from other news sources,” the exec said. He added that FCF Pay’s X account encountered a lot of “bot-like interactions” days before the suspension. FCF Pay suggested that the activity might have been an attempt to get the account suspended by competitors or the supporting communities.

“The good news is that we are actually in the process of rebranding anyway as we lead up to our mobile app release at the end of the year. We may simply accelerate the process to switch over to the new branding if the FCF Pay account doesn’t get unblocked soon,” the COO stated.

In order to combat fake news, FCF Pay is now relying on AI fake detection technology to detect and prevent the spread of misinformation. AI fake generators have been used to create realistic articles in order to identify any potential fake news stories. AI for fake detection has been utilized to ensure that only accurate and verified information is shared on the platform.