EY Launches Platform that Coordinates Mobility Services

Global advisory firm EY is introducing a software platform called Tesseract that can coordinate multiple types of mobility services and automatically settle transactions among participating owners, operators and third-party providers.

The platform uses blockchain technology, an emerging technique that drastically reduces the infrastructure required to verify and manage multipoint transactions. Bitcoin is the largest implementation of a blockchain architecture to date.

In geometry, a tesseract is a four-dimensional analog to a cube. Randy Miller, EY’s global automotive and transportation leader, says EY’s Tesseract platform offers a mechanism with which to create truly integrated mobility services. For example, the platform can log shared vehicles and trips made by them, then automatically pay owners and operators through a single usage-based system.

Miller says Tesseract aims to remove barriers to entry for mobility stakeholders and simplify the mechanism needed to provide mobility services that are user friendly.. The platform, he adds, will enable providers to “innovate, commercialize and scale new mobility businesses and revenue models.”

EY began pilot testing Tesseract a few months ago with undisclosed client partners in select markets.