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US tech firm launches ‘smart parking’ solution by using IoT and Blockchain

US technology firm Net-Objex, an expert in Internet of Things and Blockchain has showcased a 'smart parking' payment solution described as a world first by using the IOTA decentralized network and cryptocurrency.

It demonstrated the revolutionary solution at the IOT Developer's Workshop which was held in Santa Clara, California and was organized by Advantech, which has gained significant notoriety for its IoT LoRa solutions.

The new solution developed by Net-Objex will enable motorists to pay autonomously for parking through the integration of crypto wallets. Cities all across the US are actively pursuing technology that can resolve its urban mobility issues, and smart parking sensors and car parks have been introduced across North America.

This latest smart parking solution will alleviate congestion issues further by being integrated with PNI's PlacePod smart parking sensors for accurate, real-time vehicle detection and location of vacant parking spaces in cities.

It has been disclosed that communications will ensue between fixed PlacePod sensors and the cloud leveraged Advantach's LoRa Solutions. In addition to this, car to parking meter communications will also enable the Bluetooth low energy technology with digital short-range communication (DSRC) versions planned in the future.

Those in attendance at the workshop couldn't conceal how impressed they were at the solution which completed sophisticated architecture through the use of the IOTA decentralized network by the NetObjex platform as a distributed ledger for enabling device discovery, authentication, communication and transactions.

The solution developed by the US tech firm only serves to indicate further evidence of digital transformation within the transportation sector, and the interplay between various advanced technologies in bringing about effective change to address urban mobility concerns brought about by urbanization.

Director of Sales and Embedded Systems at Advantech, Shawn Jack said the primary objective of the IoT developer's forum is to encourage and inspire others within the community to develop cutting-edge IoT solutions. Jack said, “Our goal in organizing the IoT Developer's Forum is to engage the developer community in leading edge solutions that exercise all of the capabilities of our M2.COM architecture, and multi-protocol approach in enabling IoT solutions.

"The smart parking solution is a practical demonstration of the NetObjex platform in bringing together state-of-the-art capabilities in the form of IoT sensor technology, LoRa communications, decentralized networks and cryptocurrency. Our partnership with Advantech, PNI, and IOTA augurs exciting possibilities ahead," said Raghu Bala, CEO of NetObjex, whose technology has applications in transportation, manufacturing/Industry 4.0, supply chain and logistics, and smart city ecosystems.