Labs teams at Visa and DocuSign are testing a system that could make it easier to rent or lease a car in the future.
The two firms have unveiled a proof-of-concept connected car with onboard apps that allow the driver to digitally sign the required documents and electronically pay for it from the car’s dashboard computer.
The system uses Bitcoin blockchain, Visa payment and DocuSign digital transaction management and e-signature technology.
If successful, the labs believe the system could be applied to IoT environments other than connected cars.
“This particular proof of concept is just one of the several projects our two organisations are collaborating on,” DocuSign’s head of product Ron Hirson said in a blog post.
“Of course, the idea isn’t just limited to car leasing.
“When you consider the sheer magnitude of IoT, you could apply this concept practically anywhere – like renting or buying your new home and setting up all the services and utilities you might use.”