Advertisement:

Oxygen Initiative, a provider of an electric vehicle charging infrastructure, has partnered with a German energy company, innogy SE, to introduce blockchain based electronic wallets for drivers of electric vehicles. The initiative could allow EV drivers to help utilities manage the power grid seamlessly.

Get exclusive analysis of bitcoin and learn from our trading tutorials. Join Hacked.com for just $39 now.

An electronic wallet, Share&Charge, enables people to share charging stations with drivers who pay for usage. Other use cases for mobility services will be tested.

E-Mobility Benefits

Stephen G. Davis, founder and CEO, said e-mobility technologies could foster the adoption of clean-tech autonomous vehicles (AVs) and electric vehicles (EVs), which could reduce congestion and pollution and provide shorter commutes and lower operating costs.

“We’re excited to do our part by introducing blockchain technology for the mobility space to the United States, starting with access and payment solutions for electric charging stations,” he said.

Blockchain technology offers seamless payments for charging stations. Such a payment system supports e-mobility solutions, known as autonomous, connected, electric and shared (ACES) and fleets of autonomous vehicles, electric and shared (FAVES) technologies.


Advertisement:

Self-Sustainable Cars

Cars can pay for themselves and handle simple transactions automatically. An autonomous vehicle could conceivably go into taxi mode while the owner at work and return when he is ready to go home. The car could collect fares from riders and pay to charge itself for the commute home.

Blockchain-based technology can allow EV drivers to employ easy-to-use payment options, such as the real-time settlement of highway tolls, peer-to-peer roaming and sharing charging stations.

Beyond convenience, the technology could allow EV drivers to help utilities manage the power grid, enabling these vehicles to pay for their own fuel. Electric utilities could compensate drivers for delaying charging sessions, thereby alleviating the load power grids during peak demand.

Instead of paying with cash or credit cards, a vehicle could sell back excess energy during peak pricing events, thereby paying for vehicle operation, Davis said.

Also read: Blockchain presents a new model for transactive energy

Make Charging Stations Interoperable

Oxygen Initiative will also help solve the interoperability problem caused by different types of charging stations and payment systems to accelerate adoption of FAVES.

Thomas Birr, senior vice president, innovation and business transformation at innogy SE, said personal mobility will be autonomous, connected, electric and shared. Blockchain technology will facilitate efficient transactions among all stakeholders in the mobility sector.

Advertisement:

Advertisement: