Accessec Releases Integrated IOTA Tangle Based Car Wallet and Point of Sales Demonstrator

Feb 28 2019 Darmstadt, Germany

This week, the Darmstadt Germany-based security and identity management company accessec GmbH released its long awaited Car Wallet and PoS (Point of Sales) demonstrator.

“We have been waiting with much anticipation to finally showcase our own development and are proud of what our development team has achieved in 2018 using IOTA technology” says Sebastian Rohr, founder and CEO of the company.

Having a valid and properly working Car Wallet and PoS Terminal solution at the same time enables both the automotive suppliers, OEMs and charging infrastructure companies to equip any automotive ECU or charging station PoS with compatible technology. Despite a small number of previously launched wallets to conduct payments with the IOTA Tangle or blockchain– based solutions, accessec took the solution further by adding a simple, but trustworthy mutual authentication and validation process which provides clear advantages for all stakeholders.

The security components in particular have been thoroughly investigated as the whole development followed a strict Secure Software Development Lifecycle (SDLC) process that comprised a full threat modelling and risk analysis to mitigate any possible threats to the solution stack. As this formal modelling can be re-used for production-ready deployments, many operational security issues of existing and deployed wallets or PoS terminal software modules can be ticked off the list.

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