Ethereum News

Bosch is testing car charging station on Ethereum’s blockchain

Paying with crypto for car charging

Bosch is a German company that has laid out a vision for the charging of electric cars in the economy through building on the blockchain technology.

According to the CEO of the company, Volkmar Denner:

“In the future, things will not only be communicatively networked based but will also cultivate business relationships with one another.”

The company is aiming to personalize payment experience and to automate the car charging processes by offering different prices to different customers based on a variety of factors.

According to them:

“The idea is to streamline and tailor the entire process to customers needs so they can select, reserve and pay for recharging services as they see fit.”

All transactions, reservations and payments will be fully automated on the Blockchain and this service will be able to factor in other customer preferences into the equation.

As an example, a customer who likes to watch movies and have a disability can opt for a charging station with record shops and products for the disabled.

The Ethereum blockchain is vast and proving powerful following interest from projects run by Siemens being researched on the campus of Bosch in Renningen and Munich.

How the system is built up

When a car reaches the entrance to the chosen parking garage, it will identify itself at the entry barrier. This will then be raised without the driver having to remove a ticket from the dispenser.

The driver of the car will be able to leave the parking garage without any further ado since the vehicle will have already communicated with the exit barrier and settled the parking fee transaction.

The project aims to run on ETH rather than just any token or fiat for the charging station even though the company has not mentioned if this will be a private or public blockchain.

However, Bosch is not the first to come up with such a concept. There are already some companies that have launched electric car charging stations on a public blockchain.

With this project, Bosch is bringing a unique built to the parking charging stations and it will be focused on automated charging (machine to machine communication through sensors and wifi connections) through smart contracts implementation.

This will be exciting and one step further towards the development of real-world use cases of the blockchain and the Internet-of-Things (IoT).

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coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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