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.
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.
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))