Blockchain plays an essential role for smart parking

The blockchain is an undeniably ingenious invention. It originally was devised for digital currency such as Bitcoin, and now the tech community has found other potential uses for the technology. For example, some people have used it to create smart parking solutions, and the mobile app—Parksen is a well-known blockchain solution.

Parking and traffic congestion are constant sources of frustration for drivers in most cities around the world, therefore, they are hungry for innovative solutions that will fix their day-to-day problems. Now smart parking seems to be a dream come true—with smart IoT devices, AI and blockchain technology, one can build a Green, Smart and Cconnected parking platform like Parksen.

According to the founder of Parksen, Eddie Postma, the platform will make money based on a kickback fee every time a parking session is started from the platform. It will be free-to-use for cities and commercial parking providers and this will help them save a lot of costs for development, hardware and maintenance costs.

As a result, the solution is not just beneficial toward the drivers; it is good for public officials too. This is why in the Netherlands there is already 1’s smart parking solution. Parksen is looking to expand to 14 EU member states, the English speaking countries like the USA, Canada, Australia, and New Zealand, but also Parksen wants to expand globally to other non-English speaking countries.

All of this will be possible because of the blockchain technology. Blockchain technology can be integrated into multiple areas; the primary use of blockchains today is as a distributed ledger for crypto-currencies, most notably bitcoin. It can also be used to create a permanent, public, transparent ledger system for compiling data on sales, tracking digital use and payments.

Last but not least, the sharing economy and IoT are also benefitting from blockchains because they involve many collaborating peers. By enabling peer-to-peer payments, the blockchain opens the door to direct interaction between parties, and just like the PARQ TOKEN that Eddie Postma is advocating. The blockchain technology also helps the company to develop smart parking and sustainable solution around the world.

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