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New Car Wallet allows automatic IOTA payments

A German IT company unveiled a new car portfolio that will allow cars to automatically buy fuel or charge services using MIOTA.

Accessec offered its new car portfolio to the public last week. It has been integrated into the car, the wallet automatically interacts with the POS. It can configure services, such as authorize the battery point to start charging, and pay the amount due directly to the merchant.

According to Sven Feuchtmüller, an Accessec research consultant, drivers only need to ensure that both components are close enough to start interaction. He said:

“In the example of a car station and charging, one can simply drive towards the station and connect the charger. The authorization and payments will be automatically executed by your vehicle in the background “

Your car portfolio is based on the Tangle’s main network, and MIOTA currencies are used to convert the value to merchants. Dominique Sheiner, co-founder of IOTA, said the foundation is very excited about the news and benefits it can bring to the IOTA ecosystem.

Asked whether any companies or car manufacturers had shown interest in technology, Accessec declined to comment.

What did IOTA hide from projects?
IOTA focused on bridging the gaps between distributed technologies (DLT) and the booming Internet business (IoT). With many devices that send data automatically to manufacturers and other devices, Tangle is designed to facilitate communications and payments from machine to machine (M2M) quickly and highly.

Data collected by Tangle Explorer shows that the network currently processes less than five transactions per second (TPS). This is almost the same as network productivity.

In January 2018, IOTA signed a partnership with the Taipei government, the capital of Taiwan, to explore how to integrate Tangle into the new smart city initiatives. Taipei authorities announced a new identification system, using the Tangle protocol, last June.

The automotive portfolio is not the first IOTA adventure in the automotive sector. Where it works closely with Volkswagen to integrate Tangle into the new Connect feature of the automaker, allowing drivers to check the mileage driven by their vehicles.

At that time, the feature was expected to launch sometime in the first quarter of this year, Crypto Briefing reported in June.

This is not the first time that Accessec has worked with IOTA. The company conducted an audit of the Trinity portfolio in the months prior to the launch of the portfolio portfolio in August last year.

Although IOTA’s new car portfolio will be used for the first time for cars, Accessec believes that the software has extensive applications. It can be used in any case where some representatives buy some services from some point of sale (or from any other representative).

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