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IBM, ZF and UBS unveil “Car eWallet”

Wednesday, September 13th, 2017

ZF, UBS and IBM have announced that they will soon be jointly developing an open automotive transaction platform for mobility services based on blockchain technology.

In a statement issued yesterday (12 September), IBM said: “Car eWallet has the potential to radically change the way manufacturers, suppliers and service providers process digital transactions and considerably simplify the use of vehicle services.

“Auto manufacturers, technology companies, suppliers and mobility service providers are all driving the development of driverless cars. To support autonomous driving, however, these vehicles require a digital agent that can independently carry out tasks and authorize payments without the owner or user having to be active themselves.”

The Car eWallet is based on the IBM Blockchain technology, which makes it possible to synchronize the information of each participant in the network in a reliable and unchangeable data record. At the same time, it ensures that users only have access to the information that they are permitted to see and use.

IBM said that the partner companies intend to build a secure blockchain network that “can collect fees for parking, toll, as well as future use cases such as car-sharing, energy provisioning to the power system or…”  (and these are our italics ) “delivery services“.

Source: IBM

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IBM, ZF and UBS unveil "Car eWallet"

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