No less than the future of transportation is to revolutionize a mobility platform based on blockchain. This should allow true peer-to-peer interactions between owners.

Linking the familiar with the blockchain technology sharing concept in the automotive industry, the global consulting firm EY with the now proposed mobility platform Tesseract.

Soon, both individual vehicles and fleets and other transport services will be available on this. Rides would be logged digitally on the blockchain , which would then automatically handle transactions between owners, operators, and third-party service providers through a single-source, pay-per-use payment system.

Basically, says EY, Tesseract should solve core mobility problems by laying the foundations for the future ownership of autonomous vehicle fleets and providing on-demand mobility options. As a participant in such a platform, for example, vehicle manufacturers, mobility and transport companies, as well as cities and infrastructure providers could create new revenue streams, EY is already making its product palatable.

And consumers would be satisfied with the desire for expanded mobility services, getting “the right vehicle for the ideal trip, and on-demand”.

Means of transport as a service

“We want Tesseract to eliminate barriers to entry for all stakeholders, provide transportation as a service, and create a fully integrated ecosystem in which the consumer has priority in the future mobility market,” said Randy Miller, head of Global Automotive & Transportation of EY.

Using Tesseract, operators could market and scale up new mobility companies and profit concepts. Vehicle use will increase, the company predicts, waste will be reduced and, ultimately, “greener, more sustainable transportation.”

The planned establishment of new business models and sources of revenue will make the financing of, for example, batteries and charging infrastructure much easier. Investors, crowdfunders, and average users could make money from their investment based on vehicle usage, and those who could not afford their own car could now own a share of a vehicle.

Blockchain is changing the auto industry

The time has come for the restructuring of the automotive industry by Blockchain, it says from EY. The use of technology in the field of automotive services allows “true peer-to-peer interactions between owners”, with “minimal infrastructure requirements”.

Data could be permanently stored and securely managed, and the automatic processing of permits and transactions would be greatly facilitated.

Tesseract could be used for the first time over the next few months with a previously unknown partner company, said John Simlett, partner at EY, recently in an interview with Reuters .