Bosch To Unleash An Innovative Blockchain-based Digital Mobility Solution Soon

Blockchain-based Digital Mobility Solution

The demonstration at IAA Mobility revealed autonomous transactions between connected devices such as signals for parking, a smart car, and charging station

At the IAA Mobility 2023 event held in Munich, Germany, the global technology and engineering firm Bosch revealed that they will unleash a blockchain-based digital mobility venture with the assistance of the German government. During the event, the project was showcased by Bosch along with its partners Peaq Network and Mobix.

The companies have showcased a peer-to-peer parking and charging scheme that uses moveIDs based on the Peaq Network. Now, speaking of moveIDs, it functions as a self-sovereign identities (SSIs), made on the blockchain, allowing autonomous transactions between connected infrastructures and vehicles, as per an exclusive report by Savannah Fortis of Cointelegraph.

The media website also added that the demonstration at IAA mobility revealed autonomous transactions between connected devices such as signals for parking, a smart car, and charging station. When asked about why mobility is the initial sector to deploy SSI on large-scale, Leonard Dorlöchter, co-founder of Peaq Network told Cointelegraph that with mobility, there is always a lot of fragmentation. Here, the actual purpose is to move from one place to another, which is done through micro-mobility scooters, personal cars or car sharing, public transport, which needs charging infrastructures and parking spaces.

There are many players involved and always requiring sign-ups with new accounts, new cards, etc. If this is happening on the blockchain, an open ecosystem, then everyone can have a seamless experience and also find the best services, best parking and charging spots. his is the ultimate data sovereignty because the user owns their own data and keeps it and controls it,” he said. “In use cases of charging, you can see only the user and the charging pole in the car make that business — no other party around it," added Dorlöchter.

Peter Busch, project lead for moveID and product owner for Distributed Ledger Technologies Mobility told the media that the actual purpose and aim of this venture is to standardize the technology integration with other automobile companies in Germany and all throughout Europe. “What we are developing is accessible for anyone who can download it. It will be available to all the citizens and all the businesses who would like to use it,” added Busch.

The project is a part of a larger European Union-funded initiative called Gaia-X that intends to create a federated, secure data infrastructure for European digital sovereignty and lay the foundations for future smart cities. “Any citizen in maybe like five to eight years will have this automatically and won’t have to think about it because, as you have your personal ID as a card in your wallet today, it will be digitally or electronically somewhere," Busch further added.