Car eWallet using centralized IBM Blockchain for payments

Car eWallet, an open mobility ecosystem, is all set to use the blockchain technology for car-related transactions into the central doorway. It is an independent subsidiary of the renowned automotive supplier ZF Friedrichshafen AG. Car eWallet combines the automotive and mobility sectors and aims at creating the largest blockchain-powered mobility market, all and sundry.

This wallet will facilitate the cars to carry ahead the transactions for tolls, parking, fuel, and insurance automatically. Moreover, electric cars will also be able to pay the cost of their charging by themselves. The blockchain technology will provide these transactions with a more secure, fast, centralized, and automated pathway.

The automatic business favors time and traffic. Cars could detect parking spaces and align themselves. eWallet would assist in saving time as people would no longer need to swipe their cards or go physically to pay for the fuel. The vehicle will itself ensure the payment. In the case of electric cars, they will themselves conclude a communion with the charging stations and bring the charging transactions.

Car eWallet will be accompanied by an application for all smartphones and indeed, communicate through the car screen. The transaction report will be issued to the users online or in the face of monthly invoices likewise to the credit cards. The use of blockchain will profess to simplify the transactions.eWallet has already initiated a pilot program with BayWa in Germany, permitting a car to pay for gas automatically.

With this technology still under progress, we can just hope for it to bear a palm as it can be seen as a utilitarian attempt.

Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

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