CarVertical, a company that seeks to integrate vehicles into the Internet Of Things to make driving more “smart” and efficient than ever, has announced Carvertical.CITY, a platform that will help execute this vision in the coming years. The platform utilizes IOTA technology, and the company tweeted the announcement that they had made progress with regards to “automated car parking” on November 7:

The company stresses that it plans on bringing IoT benefits to everyday life, and believes that it has created a “global unified solution for automatic car parking”.

 

Carvertical CTO Audrius Kusinskas explains, “We have created a cute combination of on-board diagnostics (ODB), 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.”

The app automatically starts counting time when the car is parked, and also automatically stops counting time when the user drives away, which solves the issue of overpayments. All that is required is for the driver to install a Carvertical ODB device and download the app to begin.

Carvertical is a company that successfully completed an ICO earlier this year. It marketed itself as a decentralized way for buyers to obtain authentic data regarding vehicles when making a purchase. The blockchain technology that CarVertical would utilize would help to minimize fraud, and would empower the individual to know whether the car was registered in a stolen car database, for example, or the history of its maintenance log.

The new Carvertical.CITY app also presents itself as a convenient solution, considering that many times, individuals have to download a new parking app for every new city that they visit.

N.Misius, a software engineer for Carvertical, proclaims, “Every parking provider is welcome to our service. It’s easy to join, because you don’t need to build your own infrastructure.”

The app is already available for use in municipal parking zones of the capital of Lithuania, Vilnius.