Blockchain – “The self paying car”

The ZF Friedrichhaven AG has developed a new payment system for electric vehicles in cooperation with UBS.

The Blockchain Car eWallet payment system is designed to simplify “on-the-go loading” and offer many other benefits. Such as paying a toll in passing. Using a special app, the Car eWallet is authorized to make payments up to a certain limit independently.

Separate registration is no longer required for the use of the individual charging station in the system. Once connected to the charging station, the vehicle batteries are charged and the fees are automatically paid via the Car eWallet. This approach should also enable inductive charging – for example, during a red light phase at traffic lights or at a zebra strip. Thanks to its micropayment function, The Car eWallet is able to offset even the smallest payment amounts.

Like a real wallet, the digital wallet can also receive payments. It is also planned to unlock access to the vehicle for third parties. This would allow cars to be made available with Car eWallet car-sharing portals and to accept fees from tenants on a temporary basis. A defined authentication code on a package could be scanned and the trunk opens automatically. This enables deliveries directly to the vehicle while protecting against unauthorized persons.

All activities for the development and marketing of Car eWallet

are spun off from the ZF Group and transferred to the start-up company Car eWallet GmbH. Zf will provide this with seed capital in the first financing phase, and the start-up will promote follow-up financing to external investors. The newly founded start-up benefits from the experience gained from the temporary cooperation between ZF and its previous project partners, the technology company IBM and the global bank UBS.