Yahoo Autos ZF’s Car eWallet Uses Blockchain to Pay for Charging, Tolls, and More
Looking for change or your credit card, topping up mobile apps, physically paying for car-related transactions each time-ZF is hoping one of its latest ideas, the Car eWallet, will help simplify all of these occurrences while making them more secure. The auto-supplier giant has set up its Car eWallet startup as a separate new company, based in Berlin, to put it into production. We rode along in a Volkswagen e-Golf fitted with a prototype of the new product, but a company spokesperson stressed the system could be applied to any new car.
Using sensors and blockchain technology, the Car eWallet is said to make tasks including paying for parking at meters, toll fees, and EV charging simple, centralized, and more secure. When we pulled up to a prototype meter on a closed track, the system asked if we agreed to the amount required, after which we could add time as needed and confirm the transaction on the car’s touchscreen. The process is essentially the same for tolls and electric charging stations.
Further down the line, ZF sees applications for autonomous vehicles in which they would be able to find an available parking spot and pay automatically or send the user a mobile notification to confirm the transaction. The use of blockchain is intended to make payments more secure, as instead of relying on a third party-say, your credit-card company or bank-to verify the transaction took place, it allows payment to be made directly between two parties and to be recorded in a public, encrypted, and immutable ledger of sorts that is stored on computers all over the world. That means that if any part of the ledger in one location is corrupted or altered, the true data is not lost.
The idea was born during a ZF employee pitch day on which employees can suggest business ideas and-if approved, as was eWallet-lead a team to develop the project. ZF says there has been great interest in the idea, including from Chargepoint, the EV-charging company.
This Car Cockpit of the Future Features Joystick Control and No Pedals
Chevy Pilot Program Lets Drivers Pay for Gas in the Car, Not at the Pump
Should ZF roll out this tech either on its own or with an OEM partner, it would likely start in select markets, as partner agreements and technology allow. Other automakers such as Hyundai and General Motors are also in the early stages of launching programs or exploring in-car payments. The idea is one of several ZF is sharing as it looks to expand its business for what it believes will be the automotive industry of the future.
('You Might Also Like',)
