ParkApp – CAR ICO Automatic Vehicle Holding Parking Spot App?

Regulated parking has become an issue that currently plagues many nations around the world. Due to the increase in automobile ownership since the early 20th century, there now exists a serious parking issue that has to be resolved as quickly as possible.

To put things into perspective, in the year 2009, the City of Boston registered a sale of one of its premium parking slots for a whopping sum of $300,000. Similarly, the price of parking in Manhattan today stands at an average of $60 per hour. This clearly indicates that there needs to be some sort of market regulation when it comes to parking.

At this point, it is also wise to educate readers about some automobile figures that are not only startling, but also worthy of some concern. For example, according to conservative estimates, the number of cars that exist globally have been found to be near the 1 billion mark. In addition to this, the number of drivers that exist in the world's largest cities, have been estimated to be around 700 million.

About ParkApp

You guessed it, ParkApp is a smartphone based application that has been designed to help solve the problem of parking congestion in the major cities throughout the world. It makes use of the latest ‘positioning technology’, as well as smart payment features to help users book parking spots in an easy and convenient manner. Some of the other key features of ParkApp include:

BlockChain Based

Owing to the fact that this app is on the blockchain, it is able to record transactions in a completely transparent, and decentralized way. As a result of this, users can avoid unjust/unfair fines.


To help deliver a solution that could take care of all our parking needs, this platform makes use of technology that not only allows us to book parking spaces, but also make payments from wherever we may be.

While the interface is currently being modeled for use in the United States, the company expects to soon expand their operations, and adapt the platform to countries all over the globe.

Automated Payments

The ‘ParkApp Pay’ module has been designed to make automatic payments on the user's behalf. This means that we don't have to constantly worry about various parking zones, rates, payment methods, extension and completion of the parking session. Through the use of ParkApp’s intuitive AI, payments are made on time and without the incurrence of any heavy processing fees.

Helps Saves Money

When used by companies that make use of “staff cars”, this tool is the perfect way of keeping tabs on gasoline and parking expenses that are usually claimed via reimbursement by many employees.

Platform Integration

This app is designed to serve as a payment means for

  • Commercial parking
  • Food orders on drive-thru chains
  • Toll roads

The app integrates with banks, parking and processing equipment, and thus is able to help us pay for a variety of services in a quick, effortless manner.

Other Important Aspects To Consider

Finds Vacant Spots

Through the use of an advanced “parking module algorithm”, this application has the potential to help users locate vacant/ vacating parking spots in real time. It also has the ability to predict the intention of driver to leave, if the other driver is also using ParkApp. As a result of this, parking congestion can be resolved quite quickly and effortlessly.

Highly Secure

In order to maintain a high level of security and privacy, any operation that is conducted within the app is made to undergo multiple (2 of 3) confirmations from authorized members of the team. There are personal keys that are maintained by owners that eliminate the possibility of theft, fraud even if a single key is somehow lost.

ParkApp Token Sale Details

This app is based on the Ethereum Blockchain, and will make use of smart contracts to ensure that everything is running in order. In terms of tokens, there will be a total supply of of 1 Billion ERC20-compliant Cartoken ( abbreviated as CAR). From a distribution standpoint, we can see that:

  • 24% of tokens will be reserved for the ParkApp company
  • 8% of tokens will be distributed between ParkApp partners
  • The rest will be put up for commercial purchase.

Out of the total number, 10,000,000 tokens will be allocated for the Presale, while 68% of the tokens will be distributed during the main sale. The token rate has been set as follows:

20 CAR = 0,00298507 ETH (about 1 USD).

After the completion of the token sale, the collected funds will be used as follows:

  • 45% of all funds will be allocated for marketing and US expansion
  • 35% of the funds will be used for research, development and payment of salaries
  • 5% of funds will be spent on OpEx, including server rent, maintenance.
  • 15% of funds will be the company’s reserve fund

The presale is currently underway and will be ending on the 31st of December. Interested users can visit the company’s website to make an investment.

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