Car eWallet will “Roll” in the Automotive Industry

Leading auto manufacturer ZF, the bank UBS and Swiss investment technology giant IBM will develop a platform for open transactions based automotive blockchain for mobility services.

Called  “Car eWallet The platform is a digital assistant that allows the car safe and convenient payments even “moving”.   It has the potential to transform the way manufacturers, suppliers and service providers process digital transactions and simplify the use of vehicle services.   In addition to safe and convenient payments, CareWallet can also perform other tasks, such as opening the trunk or doors.

Car eWallet platform It was initially presented  by ZF earlier this year. It was developed in cooperation with UBS.

Blockchain based on IBM technology, Car eWallet makes secure transactions almost in real time without a central authority or a trusted third party. Blockchain technology helps synchronize the information of each participant in the network in a reliable and immutable data record, while ensuring that users only have access to the information they are allowed to see and use.

“The trend toward car-sharing and future autonomous vehicles requires, now more than ever, a transaction ecosystem that everyone can use. The Car eWallet technology will reduce risks and costs while dramatically improving convenience for owners and users.” explains Dr. Stefan Sommer, CEO of ZF Friedrichshafen AG.

“The world of mobility is evolving rapidly with self – directed vehicles, electric cars and new mobility services have evolved rapidly visionary concepts to reality. Time of great change requires Transformational solutions. Together with UBS and ZF, we are designing a new mobility to redefine how, when and where traditional transactions occur.” Said Dirk Wollschlaeger, General  Manager of IBM Global Automotive, Aerospace  and Defense.  

IBM Blockchain technology is provided through the IBM Cloud and is driven by Hyperledger Fabric 1.0.   With this service platform in the public cloud, the partners intend to build a secure lock network that can charge parking fees, tolls, as well as future use cases such as car sharing, power supply to the power system or services of delivery.

Sources: ZF ,   Enterprisetimes  

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *