IOTA To Automatize Parking Payments - IOTA News. Friday, November 9th

IOTA sees another use case in the car industry with carVertical

It aims to automatize parking payments

A new use case for IOTA is on development for a future implementation in a car-oriented mobile app. carVertical, a decentralized car history registry company, has recently announced the integration of IOTA into its yet-to-be launched mobile app carVertical.CITY. The announcement was made by the aforementioned startup in its official blog

“We’ve created a cute combination of OBD (on-board diagnostics) features, GPS tracking and IOTA Tangle possibilities. Everything is packed and served in a single user-friendly carVertical.CITY app which accepts payments in cV tokens,” says the publication, quoting the CTO of carVertical Audrius Kučinskas.

What the product do

The app seeks to automatize parking payments by using a combination of a special device – an on-board diagnostics (OBD) device – a mobile application to serve as the front-end of the whole system, and the IOTA Tangle to carry out all necessary transactions.

According to the post, the product will solve the recurrent issue of overpaying when parking a car. The OBD device will be keeping track of the car’s current status and position. This will be achieved thanks to carVertical’s partnership with GPWOX (the one in charge of providing the GPS feature) and IOTA’s Tangle.

That way, when someone is currently parked, the device will begin taking note of the car’s current status such as “battery level or engine status”, then this information is sent to the parking controller, which will take a decision based on the state of the vehicle parking. All of this is being recorded on the IOTA network.

Read Also: IOTA And HIGH MOBILITY To Connect Car Manufacturers And App Developers - IOTA News

And because said distributed ledger technology (DLT) is being used, the parking status is always being checked regardless of the type of hardware used for collecting this information.

IOTA for the car industry

When talking about why IOTA was chose, carVertical stated that the infrastructure of this DLT is fully compatible with devices like theirs, adding that users don’t have to struggle when creating an account for joining their marketplace: only a username is required.

“carVertical.CITY app communicates directly with IOTA, checks the transaction and provides users with the latest information. As well as that, users may force the change of state in IOTA from the app. This way IOTA Tangle works as a single source of truth for the vehicles parking state”.

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