EDAG Group Reveals IOTA-Powered Parking App

EDAG group, a German engineering company focused on the automotive sector, has developed trive.park, an app that lets users book parking spaces provided by its operator partners.

The innovative aspect of the app is how it manages payments: while users pay through commonly-accepted methods, the app uses IOTA’s Tangle to process user payments internally, automating communication with the parking provider for each booking. The introduction of IOTA’s system, focused on payments between IoT devices, solves the problems stemming from prohibitively high microtransaction costs with traditional payment service providers.

The trive.park app allows its users to book their parking space in advance and pay through the app, communicating with the barrier system via their smartphone’s Bluetooth technology. The system provides value to its users by removing the hassles associated with searching for places and using paper tickets to pay for their stay, while at the same time providing multi-story car park operators a way to digitize their business.

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