Car eWallet

Make your car a wallet

Basic facts

With “Car eWallet”, ZF, UBS and the innogy Innovation Hub, built an innovative payment system based on blockchain technology to ensure security and the ease of payment for electric car charging while on the go. Additionally, this innovative solution can handle many other mobility-related payments, such as highway tolls, parking fees or car-sharing.

The main issues with electric cars are short driving ranges and short charging cycles. Even when the driver does find a charging station, the various types payment systems frequently prove to be challenging. To overcome such challenges, ZF collaborated with UBS and innogy Innovation Hub to develop the innovative “Car eWallet”, which can offer several convenient payment features and functions.

“Car eWallet” will allow users to pay on-the-go for highway tolls, parking fees and electric charging, and can collect fees for car-sharing, energy provisioning to the power system or delivery services. The innogy Innovation Hub, for example, makes it possible to integrate the charging infrastructure into the solution allowing an automated and secure payment after charging the battery.

The partners are planning on a field-test of “Car eWallet” in 2017.

Source:https://car-ewallet.zf.com/site/carewallet/en/car_ewallet.html

Why Blockchain?

The blockchain is the underlying technology used for “Car eWallet” which allows carrying out business transactions in near real-time without needing a centralized entity or trusted third party. The public blockchain refers to a virtual, cryptographically secure chain of data blocks which stores records of all transactions, so that a list of all user account balances can be generated. Because this list is stored in the peer-to-peer network and can be checked on by all users, the system is considered very secure.

Recently IBM joined to provide its blockchain infrastructure to further develop a secure system which can carry out the required tasks, as well as show authorized users information that is relevant to their vehicles and carry out transactions in real-time.

The wallet can be managed via the home computer or a special app. ZF first presented the solution to the public at CES 2017. ZF has not yet announced when and for which electric cars the “Car eWallet” will be launched. Also possible fees for the payment transactions are not published yet.

Source: https://t3n.de/news/car-ewallet-elektroautos-784419/

Note

This site just shall give you a first impression of the depicted application. Please contact us, if you are interested in a detailed analysis of a specific use case or branch.