trive.park: Revolutionary parking app with IOTA support

The full article was originally published by EDAG. Read the full article here.

Fulda, 20th August, 2019 Innovation pioneers have developed a revolutionary parking app that uses IOTA’s Tangle, an innovative distributed ledger technology which delivers secure, open-source and fee-free machine to machine micropayments functionality, as a new and innovative platform for trive.park’s parking payment app solution.

Before starting their travels, drivers can use the trive.park app to book and pay for a parking slot in a car park, and communicate directly with the barrier system via Bluetooth on their smartphones. Behind the new development of the software developer, part of the EDAG Group, is a data and payment platform through which operators can digitise their multi-storey car parks. In this way, the software opens up the way for new, digital business models, which can be made available to drivers and other mobility partners via apps and appropriate interfaces.

“A central element of our smart parking system is the communication between the trive.park app and the car park barrier system,” explains Alexander Süssemilch, product owner. The barrier system is opened and closed via Bluetooth, straight from the app. The app solution means that drivers can avoid the hassle of parking tickets or other access media. Another new feature is that, thanks to trive.park, the customer can book special, individual parking offers and discounts in the car park of their choice with just a few clicks. This booking is directly input in the car park’s software, guaranteeing that a space will be kept free for the selected period.

IOTA’S Tangle distributed ledger technology is open-source and fee-free, solving the problem of traditional, prohibitively high transaction costs from traditional payment service providers. Payments are processed in the background via the IOTA cryptocurrency, which is currently considered to be one of the most promising technologies in the field of micro-payments. IOTA is geared to automated communication and payments between IoT devices. Together with other partners qualifies this new decentralized service for the automotive industry.

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