Don’t tell me Bitcoin World Tour is again at fault for promoting smart contracts to the general public creating awareness thus driving the price of Ether to the sky.

Well I am waiting too for the price to drop so I can get my hands on more of them. Will it? Hopefully, but not to the early 2016 price of sub 0.003 bitcoin I feel. Sigh…

Forget about Oil, Your Next Car will Run on Ethereum!

Germany-headquartered RWE has teamed up with Stephan Tual’s Slock.it to explore how charging electric vehicles could be transformed.

Blockchain is taking over the financial world these days, or so it seems from all the daily announcements, but the technology has the potential to impact on so much more of our economy. The latest example of this comes from the European energy giant RWE which looks to make the blockchain an integral part of its core businesses.

Germany-headquartered RWE has teamed up with Slock.it to explore how charging electric vehicles could be transformed by optimising both human to machine and machine to machine (M2M) transactions.

The first project revealed is an autonomous electric charging station, integrating a smart contract that allows users to rent the station, put up a deposit, charge their car, then get their deposit back. The charging station handles user authentication, payment processing and loyalty point assignments as part of one single transaction – simplifying the billing process.

Further showing its commitment to supporting blockchain development, RWE is also co-sponsoring an innovation award for the German Tech Entrepreneurship Center. Totaling €50,000 in prizes, the competition is looking for the best blockchain solutions to solve every day problems. In addition, they offer the opportunity to relocate an entire winning team to Berlin (with free office space).

Forward from : Finance Magnates, Forget about Oil, Your Next Car will Run on Ethereum!