NEW YORK, Aug. 30, 2017 /PRNewswire

EY today announced the launch of Tesseract, an integrated mobility platform underpinned by blockchain technology. The platform facilitates fractional vehicle ownership, shared use and seamless multimodal transport and it will help lay the groundwork for how autonomous vehicle fleets can be owned in the future and provide access to a variety of on-demand mobility options.

EY's Tesseract solves core mobility issues such as how to share vehicle ownership with widespread shared-use and how a multitude of mobility options can be integrated. As participants on a single platform, multiple stakeholders such as OEMs, mobility and transport companies, and cities and infrastructure providers, among others, will have the opportunity to create new value and revenue streams. Along with shared ownership, consumer demands for expanded mobility services are met, giving them access to the right type of vehicle for their ideal journey, on demand.

With Tesseract, single vehicles, fleets and other transport services are available on the platform. Vehicles and trips are digitally logged on the blockchain, and transactions are automatically settled between owners, operators and third-party service providers through a single-source, usage-based payment system. Ownership of the assets is flexible and can be on a full or fractional share basis. 

With new business models and income streams that will be created, funding of expensive assets such as batteries and charging infrastructure will become much easier. Investors, crowd-funders and everyday users will be able to earn money from their investment based on others' usage of vehicles and individuals who could not previously afford a car will now be able to own a share of a vehicle.

Source: EY

Illustration Photo: Uber is testing their self-driving cars here in Pittsburgh, USA (credits: Rex / Flickr Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0))

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