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 and UBS. The partners are planning to field-test
the Car eWallet in 2017.