IOTA-Centric carVertical Makes Parking Automatic, Introduces CarVertical.CITY App


CarVertical Makes Parking Automatic – Introducing carVertical.CITY App

carVertical has poised itself as the pace setter in exploiting the opportunities in connected vehicles. It has already built an extensive registry of vehicles containing accurate and up-to-date information. It is also working with third-parties in the industry including insurers. Recently, the company has taken one more step ahead by introducing a new app that will automate parking.

carVertical.CITY Automatic Parking App

Interestingly, carVertical struck a partnership with GPSWOX even before launching its ICO. GPSWOX is an accomplished provider of GPS tracking services. carVertical intends to use the company’s services to work with its carVertical.CITY app.

The carVertical.CITY app will work by primarily measuring the period a car is parked in a paid parking zone. This sounds simple enough, but it will take the utilization of several data types. The clock will start when the car ventures into the paid parking zone and the engines turns off. It will finish when the driver gets back and drives away out of the parking zone. This will take the tracking and monitoring of engine status, GPS coordinates, and batter levels, among other factors.

The app utilizes three features and technologies to do all this: an onboard diagnostics (OBD) feature, IOTA Tangle capabilities, and Geo-Positioning System (GPS).

It is also important to note that this app also allows users to map their cars in real time, thus enabling them to track and monitor their cars in case of thefts. What’s more, they can access parking history and get notifications in case of any status changes for engine status, battery levels, and much more.

Payment And Scalability

Users of the carVertical.CITY app will pay for parking services using the cV token. Interestingly, this will be the first concrete use of the token since it was launched. However, carVertical also plans to integrate the MIOTA cryptocurrency for payments as it is considered the foundation of its Internet of Things (IoT) infrastructure.

carVertical also has a bright future ahead of it. The company makes universal OBD-II interfaces that connect to trackers in virtually any car – this interface is estimated to be compatible with over a billion cars all over the world. The company also plans to make better interfaces that will integrate with virtually any car models whether manual or electric. These bright prospects are expected to significantly boost the company’s operations and increase its revenues.

Additionally, carVertical is not stopping at automated parking meters. The company also plans to venture into the electric vehicle parking market. Electric vehicles are still a novice concept for most people but their popularity is growing worldwide. carVertical expects that a boom in sale and use of electric vehicles will be accompanied by chaos for charging units and hopes to cash in on the future surge in demand of EV charging services.

Conclusion

Parking is about to become easier and cheaper for those willing to use carVertical’s new carVertical.CITY automated parking app. This app will also come with other extra utilities including car performance diagnostics and tracking, among others. Overall, carVertical views this as one more important step towards conquering a growing market.

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