Blockchain Infrastructure Trial to Support ‘green’ parking price in Munich

By Katelyn James | November 14, 2020

Blockchain solutions firm Datarella has reportedly teamed up with AI-focused company Fetch.ai, to jointly work on the release of Munich-based “Smart City” infrastructure trial, on November 12th. 

Specifically, The trial will reportedly take place in the heart of the Connex Buildings business center, and will adopt a wide range of blockchain-powered AI platforms, to support optimization for parking space management at the building.

The solution was reportedly built with a goal to further promote the drop in car usage, ultimately bringing down CO2 emissions.

Autonomous economic agents will reportedly carry out negotiation for the “price” of parking spaces between the operators and users. An award will be sent to every user who selected parking spaces with less popularity, or does not need park spaces in general. 

The reward will reportedly be available as Fetch.ai’s FET token for users who finalized car park registration, for each minute their vehicles are outside of the parking area. The amount of awarded token each minute will reportedly be dependable on the empty spots in the parking space. 

Despite being a trial on a small scope, should the concept be successful in displaying its ability to gear individuals towards actions with enhanced sustainability, the implications could have a good outcome. 

For instance, if car usage can decline by 10% thanks to the solution, it would reportedly result in a significant drop in CO2 emissions yearly, if applied for citywide. 

“Essentially, our core thesis is that multi-agent systems running on a decentralized network, enable coordination of complex tasks between multiple stakeholders in a way that has not previously been possible.”

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