April 20, 2024

ZF, UBS and IBM jointly launch the first car payment transaction platform

ZF (ZF), UBS (UBS) and IBM will jointly release the payment transaction platform is based on the first block chain automotive technology, the platform is used to provide mobile payment services. Automotive e-wallet will enable manufacturers, suppliers and service providers to make major changes in the way digital transactions are handled, while greatly simplifying the use of vehicle services.
ZF will support electric vehicle charging payment in the future ZF will support electric vehicle charging payment in the future

Automobile manufacturers, technology companies, suppliers, and transportation service providers are all driving the development of driverless cars. However, to support autopilot, vehicles need a digital agency that can perform tasks independently and can authorize payment without the owner or user activating it.

The car e-wallet is an innovative, digital vehicle assistant that makes payments safer and more convenient and can be operated while the car is in motion. In addition, it can perform other tasks such as opening the trunk door or the door. Automotive Wallet is based on IBM's blockchain technology. It can synchronize the information of each participant in the network and can reliably and reliably record the data on the network while ensuring that users only obtain their permission to view and use the data. Information. In this way, secure transactions can be performed almost instantaneously without having to go through a central audit or rely on a reliable third party. The first car service trading platform in the transportation sector has been launched, which will bring about significant changes in e-commerce among car manufacturers, suppliers, service providers and customers.

Vehicles equipped with blockchain technology can realize automatic payment functions, such as automatic payment of charging fees for electric vehicle charging stations, etc.

Car sharing is more convenient and reliable

“The trend of car sharing and future self-driving will require a transaction ecosystem that is more accessible to everyone than ever before,” said Stefan Sommer, CEO of ZF AG, Stefan Sommer, “Via car wallet and IBM. Blockchain technology, which will be deeply rooted in vehicles in the future, will reduce payment risks and costs while significantly improving the convenience of payment for vehicle owners and users."

Blockchain technology will redefine transactions

The platform is based on IBM's blockchain technology. The technology is provided through IBM Cloud, powered by Hyperledger Fabric 1.0, a blockchain framework and one of the hyperledger projects hosted by the Linux Foundation. Through the use of this public cloud service platform, all partners have jointly created a secure blockchain-based network. It can be used to collect parking fees and tolls, and in the future it will also serve shared cars, power system energy return or item delivery services.

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