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.