Car eWallet Uses Blockchain Tech

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Car eWallet Uses Blockchain Tech

The idea behind Car eWallet seems so logical, it’s a wonder such a platform isn’t already in use. The tech company recently separated from major automotive supplier ZF and aims to do something fairly radical: create the largest Blockchain-powered open mobility marketplace, and make your car-related payments more seamless, centralized, and automatic.

Partnering with IBM and UBS, eWallet has already begun a pilot program with BayWa in Germany for the first phase and step in its program, which allows a car to automatically pay for gas at the pump. It saves the step of having to pay by swiping or inserting your credit card, or by physically going into a store to pay for gas. But the company’s plans go well beyond this.

While Chevrolet has recently started its own similar pilot project with Shell, eWallet aims to use IBM’s Blockchain technology to add a myriad of car related transactions into one central portal. In theory, your car would be able to pay for tolls, parking meter fees, charging costs for electric cars, insurance and gas, automatically.

Car eWallet’s reps tell us that you could receive a transaction report online, or monthly invoice, much like with a credit card now. The idea is to simplify and centralize these transactions, with your car doing the hard work. eWallet is also system-agnostic, and you would be able to use an app on any phone, or even interact with prompts on your car’s screen. At this point the program is in the development and testing phase, but there’s a great deal of flexibility that can be tailored to meet the needs of consumers, an OEM, or fleet. With Blockchain tech slowly gaining more acceptance and use, the idea of simplifying several transactions seems like a pragmatic move.

Images courtesy of Car eWallet

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