FRANKFURT, Germany, Sept.
12, 2017 /PRNewswire/ -- ZF, UBS and IBM (NYSE: IBM) will
soon be jointly developing an open automotive transaction platform
for mobility services based on blockchain technology. Car eWallet
has the potential to radically change the way manufacturers,
suppliers and service providers process digital transactions and
considerably simplify the use of vehicle services.
Auto manufacturers, technology companies, suppliers and mobility
service providers are all driving the development of driverless
cars. To support autonomous driving, however, these vehicles
require a digital agent that can independently carry out tasks and
authorize payments without the owner or user having to be active
themselves.
Car eWallet is an innovative, digital assistant in the car that
allows secure and convenient payments even on the go. Moreover, it
can also perform other tasks, like opening the trunk or doors. The
Car eWallet is based on the IBM Blockchain technology, which makes
it possible to synchronize the information of each participant in
the network in a reliable and unchangeable data record. At the same
time, it ensures that users only have access to the information
that they are permitted to see and use.
This makes secure transactions almost in real time possible
without needing a central instance or a reliable third party. The
open automotive transaction platform for mobility-related services
has the potential to radically change e-commerce between
manufacturers, suppliers, service providers and customers.
More convenience and reliability for car
sharing
"The trend toward car-sharing and future
autonomous vehicles requires, now more than ever, a transaction
ecosystem that everyone can use," explains Dr. Stefan Sommer, CEO of ZF Friedrichshafen AG.
"The Car eWallet technology will reduce risks and costs while
dramatically improving convenience for owners and users."
Blockchain technology redefines transactions
The platform is built on IBM Blockchain technology, which is
provided through the IBM Cloud and driven by Hyperledger Fabric
1.0, a blockchain framework and one of the Hyperledger projects
hosted by the Linux Foundation. With this public cloud service
platform the partners intend to build a secure blockchain network
that can collect fees for parking, toll, as well as future use
cases such as car-sharing, energy provisioning to the power system
or delivery services.
"The world of mobility is quickly evolving with self-driving
vehicles, electric cars and new mobility services having quickly
evolved from visionary concepts into reality. Time of great change
requires transformational solutions," said Dirk Wollschlaeger, General Manager IBM Global
Automotive, Aerospace and Defense. "Together with UBS and ZF, we
are engineering a new mobility platform to redefine how, when and
where traditional transactions occur."
Veronica Lange, Head of
Innovation at UBS adds: "In today's digitally connected world, no
single institution works in isolation. As a leading financial
services institution we pursue the development of a new platform
that will transform how transactions and payments between vehicles
and other machines can be done efficiently and safely."
Press contact:
ZF
Thomas Wenzel, head of
External Communications,
Tel.: +49 (0)7541-77 2543, e-mail: thomas.wenzel@zf.com
Corina Tews, Technology
and Product Communications,
Tel.: +49 (0)7541 77-8238, e-mail: corina.tews@zf.com
IBM
Jeannine Kilbride, External
Relations
Tel: +1 860 997 6277, email: jkilbri@us.ibm.com
UBS
Eva Caroline Mairinger, Group
External Communications,
Tel: +41 44 234 49 27, e-mail eva-caroline.mairinger@ubs.com
About ZF
ZF is a global leader in driveline and
chassis technology as well as active and passive safety technology.
The company has a global workforce of around 137,000 with
approximately 230 locations in some 40 countries. In 2016, ZF
achieved sales of €35.2 billion. ZF annually invests about six
percent of its sales in research & development – ensuring
continued success through the design and engineering of innovative
technologies. ZF is one of the largest automotive suppliers
worldwide.
ZF allows vehicles to see, think and act. With its technologies,
the company is striving for Vision Zero – a world of mobility
without accidents and emissions. With its broad portfolio, ZF is
advancing mobility and services in the automobile, truck and
industrial technology sectors.
For further press information and photos, please visit
www.zf.com
About IBM
IBM is the leader in open-source
blockchain solutions built for the enterprise. As an early member
of Hyperledger, an open source collaborative effort created to
advance cross-industry blockchain technologies, IBM is dedicated to
supporting the development of openly-governed blockchains. IBM has
worked with more than 400 clients across financial services, supply
chains, IoT, risk management, digital rights management and
healthcare to implement blockchain applications. For more
information about IBM Blockchain, visit
https://www.ibm.com/blockchain/.
About UBS
UBS provides financial advice and
solutions to wealthy, institutional and corporate clients
worldwide, as well as private clients in Switzerland. The operational structure of the
Group is comprised of our Corporate Center and five business
divisions: Wealth Management, Wealth Management Americas, Personal
& Corporate Banking, Asset Management and the Investment Bank.
UBS's strategy builds on the strengths of all of its businesses and
focuses its efforts on areas in which it excels, while seeking to
capitalize on the compelling growth prospects in the businesses and
regions in which it operates, in order to generate attractive and
sustainable returns for its shareholders. All of its businesses are
capital-efficient and benefit from a strong competitive position in
their targeted markets.
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SOURCE IBM