Electric car pays for charging itself via blockchain: Page 2 of 2

February 17, 2021 //By Christoph Hammerschmidt
Electric car pays for charging itself - via blockchain
Start-up enterprise PolyCrypt (Darmstadt, Germany) applies blockchain to real-time processes in the Internet of Things (IoT). In its current project "Perun", it hopes to implement a solution for the payment of e-car charging processes. It is crucial that the transaction takes place without delay and at low cost. Now the project is moving into industrial implementation.

The Perun solution is scalable and could enable 10,000 transactions per second between two partners. In its implementation, it is cost-effective because the transactions carried out can be processed without the blockchain and thus without the legal verification. However, if there is a disagreement between two parties in the payment process, the software automatically resorts to using the blockchain. The previous blockchain solutions always also take on the function of a court during the transaction between two parties in order to prevent abusive payment transactions. However, this is just as expensive in legal implementation as in real life. With the help of the Perun solution, considerable costs can be saved.

The technology also offers many possibilities to mediate directly between companies, automate manual processes and at the same time increase IT security and data protection. In the future, networked things should also be able to exchange information with each other independently in secure ecosystems and be able to conclude contracts.

In carrying out the project, PolyCrypt was supported by the German federal government through the StartUpSecure funding programme. In funding phase I, the financial support made it possible to build up a team, develop the basic technology and cooperate with renowned partners such as Bosch and Telekom AG. With the help of the funding phase II, which is now beginning, the product will be further developed and transferred to the economy by means of pioneer projects with established companies to test the market potential.

More information (video): https://www.perun.network/#perun-video

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