Secure Payments "On The Go" With Blockchain Technology From ZF, UBS and IBM
- IBM is the newest partner in the Car eWallet cooperation
- IBM Blockchain supports independent, secure, transparent and efficient vehicle transactions
- Car eWallet simplifies the use of services revolving around the vehicle
Sep 12, 2017
FRANKFURT, Germany, Sept. 12, 2017 /PRNewswire/ -- ZF, UBS and IBM (NYSE: IBM) will soon be jointly developing an open automotive transaction platform for mobility services based on blockchain technology. 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.
Car eWallet is an innovative, digital assistant in the car that allows secure and convenient payments even on the go. Moreover, it can also perform other tasks, like opening the trunk or doors. 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.
This makes secure transactions almost in real time possible without needing a central instance or a reliable third party. The open automotive transaction platform for mobility-related services has the potential to radically change e-commerce between manufacturers, suppliers, service providers and customers.
More convenience and reliability for car sharing
Blockchain technology redefines transactions
"The world of mobility is quickly evolving with self-driving vehicles, electric cars and new mobility services having quickly evolved from visionary concepts into reality. Time of great change requires transformational solutions," said Dirk Wollschlaeger, General Manager IBM Global Automotive, Aerospace and Defense. "Together with UBS and ZF, we are engineering a new mobility platform to redefine how, when and where traditional transactions occur."
Veronica Lange, Head of Innovation at UBS adds: "In today's digitally connected world, no single institution works in isolation. As a leading financial services institution we pursue the development of a new platform that will transform how transactions and payments between vehicles and other machines can be done efficiently and safely."
Corina Tews, Technology and Product Communications,
ZF allows vehicles to see, think and act. With its technologies, the company is striving for Vision Zero – a world of mobility without accidents and emissions. With its broad portfolio, ZF is advancing mobility and services in the automobile, truck and industrial technology sectors.
For further press information and photos, please visit www.zf.com
|Powered by MediaRoom|