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IBM, ZF, UBS to develop open automotive transaction platform

Sep 14, 2017

Sep 13, 2017 (MarketLine via COMTEX News Network) -- IBM, along with ZF and UBS, is planning to develop an open automotive transaction platform for mobility services.

Based on blockchain technology, the partnership intends to develop Car eWallet, which will allow manufacturers, suppliers and service providers to process digital transactions and simplify the use of vehicle services.Car eWallet is a digital assistant, which enables secure and convenient payments while travelling and carries out other tasks such as opening the trunk or doors.With the support of IBM Blockchain technology, the Car eWallet can synchronize the information of each participant in the network in a dependable and unchangeable data record.The digital assistant will also allow users to access the information, which they are permitted to see and use.IBM Blockchain technology, which runs by Hyperledger Fabric 1.0 frame work, will help the new digital assistant to collect fees for parking and toll. It is also being developed for future use cases such as car-sharing and energy provisioning to the power system or delivery services.The open automotive transaction platform is expected to change e-commerce between manufacturers, suppliers, service providers and customers, said IBM.ZF Friedrichshafen CEO Dr Stefan Sommer said: "The Car eWallet technology will reduce risks and costs while dramatically improving convenience for owners and users."IBM global automotive, aerospace and defense general manager Dirk Wollschlaeger said: "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."IBM is engaged in the development of blockchain solutions for various applications, while ZF is involved in the development of driveline and chassis technology, as well as active and passive safety technology.UBS provides financial advice and solutions to wealthy, institutional and corporate clients across the globe, in addition to private clients in Switzerland.Image: The Car eWallet technology will allow the vehicle to automatically pay for transactions at the electric vehicle charging station. Photo: courtesy of ZF.
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SOURCE: Comtex

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