The Blockchain is Moving Forward

More and more companys are starting to work with the blockchain technology because of the massive benefits.

A german company named ZF wich is the 5th biggest automotive supplier of the world is working on a Car-e wallet.

On their homepage they gave us some details:

It allows different business transactions to be performed almost in real-time without a central instance or trusted third party.
Instead, a cryptographically secure record of all transactions on the basis of smart contracts is stored as a chain of data blocks on many computers and balanced out by a corresponding list generated by all participants.

Because the system distributes ledgers in a decentralized way to be authorized by consensus of the majority of user accounts, the system is considered very secure - once recorded, the data in a block cannot be altered retroactively.

The fees for charging electric car batteries are automatically paid without any manual payment transactions. The capability to do micropayment transactions on the go opens up possibilities such as inductive charging when the car is waiting at a red light or at a pedestrian crossing which makes charge !on the go! more attractive for power suppliers.

The digital eWallet can also accept payments just like a real wallet. There are also plans to authorize vehicle access for third parties. Instead of standing uselessly in a parking lot, the Car eWallet can make cars available for use to car-sharing portals and collect fees from the temporary users.

This technology can also support various other applications: For example, the Car eWallet user can enable the trunk of his or her parked car to open if a specific barcode ID is scanned, like on a package. It will allow packages to be delivered directly to a vehicle and placed in the trunk, while still protecting the vehicle from unauthorized access.

When i heard about this project it was like a sneak peak of the future. It was the same feeling that i had when i watched Back in the Future as a kid.

What do you think about it? Let me know in the comments down below and subscribe for more!

source: https://www.zf.com/corporate/de_de/magazine/magazin_artikel_viewpage_22227304.html