- carVertical has released a new app called carVertical.CITY which makes use of IOTA’s Tangle
- The app helps to manage and monitor parking costs for drivers
- IOTA helps to record and manage transaction information
carVertical has announced the launch of carVertical.CITY, a new automatic car parking platform that makes use of IOTA’s Tangle technology.
The announcement came in the form of a tweet which states that it is a combination of OBD, GPS, and IOTA.
According to the official announcement on the carVertical website, this app is to help drivers manage their parking costs.
Traditional parking apps have a number of setbacks such as users forgetting to turn them off when managing payments and needing a different app when in a new location.
This new offering aims to fix these problems by offering IoT benefits to their users and easing the process of managing parking and payments.
“We’ve created a cute combination of OBD (on-board diagnostics) features, GPS tracking, and IOTA Tangle possibilities. Everything is packed and served in a single user-friendly carVertical.CITY app which accepts payments in cV tokens,” summarises carVertical CTO Audrius Kučinskas.
How it works
The app would automatically notify the driver and begin calculating costs when the driver parks in a paid parking zone.
What’s more, the app stops the compilation of costs when the driver leaves the area, making sure that they do not end up overpaying due to forgetfulness.
The only thing the driver needs to do is install the carVertical OBD and download the app which makes use of IOTA’s trademark Tangle technology and GPSWOX.
The OBD keeps track of the vehicle and the Tangle records its transactions. Once the car is parked in a paid zone, calculation of cost begins.
The carVertical app also acts as a monitor for the car, meaning the owner can be sure of its location at any given time. They are notified of any change in its parking status and can turn off parking remotely.
“The primary payment method in carVertical.CITY app is CV token. But we’ve also added support for MIOTA cryptocurrency as IOTA is a backbone of our IoT infrastructure,” points out A. Kučinskas.
Where IOTA comes in
IOTA will be used on the app to monitor and record the transactions.
As a result, the driver will have a permanent log of all their parking transactions and collect information including the GPS location, start and end time, duration and parking price.