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In this paper, we present a novel security solution known as global public key algorithm based on bilinear pairing cryptography concept, for location service in vehicular ad-hoc networks (VANETs). Indeed, many geographic routing protocols used in VANET need location service for obtaining destination position. The location service makes way for major security concern in VANETs. We design an efficient security solution to digitally sign and encrypt all the location service packets including network layer packets without affecting the basic operation of location service. The public key is called global as every vehicle possesses the same public key. Hence, there is no overhead of digital certificates and certificate path verification. Also, we achieve reduced signature size without compromising on authenticity of the message.