Apple CarKey — and the private underwriting for the property market

Apple CarKey will have implications much larger than the ability to store one car key inside one (i)phone

Daniel Gusev
Feb 24 · 2 min read

Apple will allow generating property keys — starting with car keys — via its tokenization platform just as it does with payment tokens provisioned to Apple users. It will impact private insurance, pushing players to study sharing of keys digitally and developing a liability model to cover the use-case, but digital sharing can most likely be found more secure than duplicating keys or tinkering with physical objects. Car keys are already turned into tokens people cary with themselves that encrypted radio of the car would pick-up when access is requested. The very same leading carmakers can facilitate with a phone that would reliably support:

  • Identity profiling and secure storage of prime factors tied to an identity
  • Ability to generate one / regular tokens to allow interaction with those agents requesting, in proper manner, data based on the prime identity

For now, Apple satisfies these criteria, additionally paying off the investment in the identity platform around iCloud.

We are since the appearance of a internet-connected camera-phone, are carrying our assets with us: formerly expressed via photos and locations giving away where they are, now certain phone manufacturers underwrite and protect them by generating keys that can be considered more secure than the analog ones.

Should one project where the CarKey could get us:

  • Extension of a car key opens up additional ways to privately initiate an underwriting procedure for second-hand car sales;
  • Organise short / long term lease of moveable and real-estate property: allowing provisioning of keys by the likes of car-sharing platforms, booking websites.

Apple identity play has so many more things in store. A private underwriter — all the more important for the company to keep the security of the platform intact.

Gauss Ventures

Seeing big numbers in the world of fintech

Daniel Gusev

Written by

10+ years, 2 labs, 1 bank, 2 startups, 1 exit. Digital banker, wishful tinkerer, amateur father. Fintech VC @gauss_vc and co-founder of @finfitapp.

Gauss Ventures

Seeing big numbers in the world of fintech

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