Page 1/5, January 5, 2017 ZF, UBS and innogy Innovation Hub Announce the Jointly Developed Blockchain Car ewallet Automatically takes care of mobility-related payment transactions Ideal for charging electric cars and micropayments Blockchain technology makes it secure and versatile Las Vegas. The new Car ewallet from ZF, UBS and the innogy Innovation Hub, built on blockchain technology to ensure security, is an innovative payment system that makes it easy to pay for electric car charging while on the go. Additonally, this innovative solution will handle many other mobility-related payments, such as highway tolls, parking fees or car-sharing. With electric cars, the main issues for drivers are short driving ranges and short charging cycles. Even when the driver does find a charging station, the various types of charging stations as well as different charge card and payment systems frequently prove to be challenging. To overcome such challenges, ZF collaborated with UBS and innogy Innovation Hub to develop the innovative Car ewallet, which can offer several convenient payment features and functions. The Car ewallet will allow users pay on-the-go for highway tolls, parking fees and electric charging, and can collect fees for carsharing, energy provisioning to the power system or delivery services. The innogy Innovation Hub, for example, makes it possible to integrate the charging infrastructure into the solution allowing the Car ewallet to automatically and securely handle the payment after charging the battery. Automatic payment convenience Like any normal wallet, the Car ewallet has to be filled on a regular base. Users can easily transfer money online from a PC or a dedicated mobile app and authorize the Car ewallet to independently make payments up to a certain limit. For example,
Page 2/5, January 5, 2017 on the morning drive to the office, the car will automatically pay a toll, thus saving the driver the trouble of waiting in line at a tollbooth. The driver is then notified while still in transit and the user receives updates online of every payment transaction made by the Car ewallet. Micropayment feature With the new solution developed jointly by ZF, UBS and the innogy Innovation Hub, every user will have rapid and simple access to the charging infrastructure registered on the blockchain. No separate registration or login processes are required to make use of electric charging stations. Once connected to a charging station, vehicle batteries can be charged and the charging fees will be automatically paid by the Car ewallet. Inductive charging which could occur while waiting at a red light or at a pedestrian crossing can only transmit small quantities of power to the vehicle. But every bit of power counts when increasing the electric car s drive range. With its micropayment feature, the Car ewallet will be able to transact the smallest of payments which makes charge on the go more attractive for power suppliers. Opening a variety of options Another planned feature of the Car ewallet is to accept payments and authorize third-party access to the vehicle. Instead of having a potential ride or car-sharing vehicle standing uselessly in a parking lot, the Car ewallet could make it available for use to third parties and receive the fees for the car-sharing from the temporary driver. Car ewallet will also allow access to the vehicle to third parties that are not drivers. For example, the Car ewallet user can enable the trunk of his or her parked car to open if a specific authentication code is scanned. It will allow delivering packages directly to a vehicle and placing them in the trunk, while still protecting the vehicle from unauthorized access.
Page 3/5, January 5, 2017 Car ewallet could also be integrated into intelligent power supply systems. In future, intelligent power supply systems could use the blockchain technology in the car to control the charging process depending on the renewable energy available in the system. In particular, the car could also provision energy back to the power supply system if authorized by the user to fulfill such demand. Secure blockchain technology The underlying technology used for the Car ewallet is blockchain technology which allows for carrying out business transactions in near real-time without needing a centralized entity or trusted third party. Blockchain refers to a virtual, cryptographically secure chain of data blocks which store records of all transactions, so that a list of all user account balances can be generated. Because this list is stored on many computers and can be checked on by all users, the system is considered very secure. The innovative Car ewallet was developed jointly by ZF, UBS and the innogy Innovation Hub. The partners are planning to field-test the Car ewallet in 2017. Captions: 1) The Blockchain Car ewallet makes it easy to pay for charging electric cars. The electronic wallet can even be used to pay for highway tolls, parking fees or car-sharing. 2) The blockchain technology is the basis for the Car ewallet developed jointly by ZF, UBS and the innogy Innovation Hub. For further press information and photos please visit: www.zf.com
Page 4/5, January 5, 2017 Press contact : Thomas Wenzel Director External Communications Phone: +49 7541 77-2543 E-mail: thomas.wenzel@zf.com Press contacts UBS AG: Eva Mairinger Phone: +41 44 234 85 00 E-mail: Eva-Caroline.Mairinger@ubs.com Huw Williams Phone: +44 207 568 99 80 E-mail: Huw.Williams@ubs.com Press contact innogy: Alexander Stechert-Mayerhöfer Group Media Relations Phone: +49 201 12-15262 E-mail: alexander.stechert-mayerhoefer@innogy.com ZF is a global leader in driveline and chassis technology as well as active and passive safety technology. The company acquired TRW Automotive on May 15, 2015, which was then integrated within the organization as the Active & Passive Safety Technology Division. The combined company reported sales of 29.2 billion in 2015 and now has a global workforce of around 135,000 with approximately 230 locations in some 40 countries. ZF annually invests approximately five percent of its sales in Research & Development ( 1.4 billion in 2015) ensuring continued success through the design and engineering of innovative technologies. ZF is one of the largest automotive suppliers worldwide.
Page 5/5, January 5, 2017 UBS AG 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 company consists of the corporate center and five corporate divisions, which include 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. Headquartered in Zurich, Switzerland, UBS is present in all major financial centers worldwide. It has offices in 54 countries, with about 34% of its employees working in the Americas, 35% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 13% in Asia Pacific. UBS Group AG employs approximately 60,000 people around the world. UBS Group AG shares are listed on the SIX Swiss Exchange and the New York (NYSE) Stock Exchange. innogy SE With activities in 16 European countries, sales of around 46 billion (2015) and more than 40,000 employees, innogy SE is the leading German energy company. With its three business areas of Renewables, Grid & Infrastructure and Retail, it is well equipped for the work ahead in a modern, decarbonized, decentralized and digital energy world. innogy s activities focus on offering their 23 million customers innovative and sustained products and services that will help them use energy more efficiently and improve their quality of life. The key markets are Germany, the United Kingdom, the Netherlands, Belgium and several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland. As a leading innovator in key future fields such as e-mobility, innogy is represented at international technology hotspots like Silicon Valley, Tel Aviv or Berlin. The company combines the comprehensive know-how of in-house energy technicians and electrical engineers with digital technology partners, teaming up with start-ups and large corporations. innogy plans to invest approximately 6.5 billion (2016-2018) to build the energy market of the future and promote the transition to renewable energy in Germany. innogy commenced operations on April 1, 2016. The company has emerged from the reorganization of the RWE Group. With its IPO in October 2016, innogy SE became the most valuable energy company in Germany. For more information, go to www.innogy.com For the future energy system, the innogy Innovation Hub is developing digital, platform-based business models. In doing so, it is focusing on the following concepts: Smart & Connected, Disruptive Digital, Urban Solutions, Machine Economy and Big Data. The innogy innovation hub operates internationally with young start-ups and has its own active innovation teams in the start-up scenes of Silicon Valley, Tel Aviv, London and Berlin. For more information, go to https://innovationhub.innogy.com