peaq technology empowers TSL and Jaguar to achieve smart payments

Recently, a well-known electric vehicle manufacturer and a famous luxury car brand will showcase an innovative solution for charging and parking fee payments using peaq technology at the IAA MOBILITY 2023 auto show. As a parachain in the Polkadot ecosystem, peaq is dedicated to building a Web3 ecosystem that connects the digital world with the real world.

The goal of peaq is to enable users to collectively own assets that generate income based on real-world services and goods. This exploration of the real world and practical empowerment represents a trend of blockchain technology developing deeper into the Internet of Things Economy (Economy of Things).

Polkadot, as a cross-chain protocol, aims to connect and secure different blockchains. It achieves interoperability and interconnectivity between blockchains through three types of blockchains: relay chains, parachains, and bridges. This architecture provides an ideal infrastructure for innovative projects like peaq.

In practical applications, a shared car service company in Vienna named ELOOP has tokenized 100 electric vehicles. peaq provides a unique decentralized identity (peaq ID) for each vehicle, making it part of the decentralized physical infrastructure (DePin). These vehicles are "fragmented" and jointly owned by multiple shareholders, with rental income distributed proportionally between the company and the holders.

In the upcoming auto show demonstration, the car will showcase how to interact with charging stations or parking spaces using autonomous machine identity and pay fees from its own decentralized wallet. This process will be supported by peaq's test network and a certain network based on the Cosmos SDK, responsible for handling transactions and identity verification.

The demonstration also involved a digital sovereignty project supported by the European Union, which aims to create standards and digital infrastructure for the future mobile ecosystem. peaq plays a key role as a provider of underlying blockchain infrastructure.

It is worth noting that this demonstration also integrates artificial intelligence technology. A certain network provided an autonomous AI agent framework for the live demonstration, enabling communication between AI agents across different ecosystems through multi-chain IDs. These intelligent agents will promote interaction between devices, providing users with a high-quality charging and parking experience based on the autonomous identity (SSI).

This innovative application showcases the integration of blockchain technology, the Internet of Things, and artificial intelligence, pointing the way for the future development of intelligent transportation systems. With the continuous advancement of technology, we can expect to see more similar practical application cases that drive the rapid development of the IoT economy.