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EDAG Group Reveals IOTA-Powered Parking App

EDAG group, a German engineering company focused on the automotive sector, has developed trive.park, an app that lets users book parking spaces provided by its operator partners.

The innovative aspect of the app is how it manages payments: while users pay through commonly-accepted methods, the app uses IOTA’s Tangle to process user payments internally, automating communication with the parking provider for each booking. The introduction of IOTA’s system, focused on payments between IoT devices, solves the problems stemming from prohibitively high microtransaction costs with traditional payment service providers.

The trive.park app allows its users to book their parking space in advance and pay through the app, communicating with the barrier system via their smartphone’s Bluetooth technology. The system provides value to its users by removing the hassles associated with searching for places and using paper tickets to pay for their stay, while at the same time providing multi-story car park operators a way to digitize their business. 

The innovative system allows to provide a custom experience for each user, who now has the possibility of booking specific spaces, as well as taking advantage of exclusive offers and discounts.

The company is an even stronger supporter of Tangle technology, believing it can open the floodgates to future innovative trends in the automotive industry, such as eMobility, self-driving cars, urban mobility and other services.

“We regard the use of innovative new technologies such as IOTA’s Tangle for applications in the mobility industry as an important step in establishing automated driving and other mobility services,” explains Heiko Herchet Head of the division. “The technology will gradually relieve the driver of tedious tasks such as payment, registration and data protection, thus enhancing the driving experience.”

IOTA itself has a long history in the automotive industry, previously partnering with companies such as Jaguar and Volkswagen to bring Tangle technology in their cars. However, as previously reported by Crypto Briefing, not all partnerships turned out to be successful.

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