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Bosch, EU and blockchain companies to build decentralized IoT: IAA Mobility

Bosch, EU and blockchain companies to build decentralized IoT: IAA Mobility

The engineering and technology company Bosch is at the head of a forthcoming, blockchain-based digital mobility project with backing from the German government, which was demoed live at IAA Mobility 2023 in Munich, Germany. 

At the event, Bosch, alongside its collaborators MOBIX and the Peaq blockchain, revealed a peer-to-peer parking and charging scheme utilizing moveIDs on the Peaq ecosystem.

MoveIDs act as self-sovereign identities (SSIs), built on the blockchain permitting autonomous transactions between vehicles and connected infrastructure. The demonstration at IAA Mobility highlighted autonomous transactions between connected devices – in this case, a smart car, charging station, and signal for parking. 

A Jaguar electric vehicle(EV) showcasing decentralized tech w/ integrated payment abilities. Source: Cointelegraph

Cointelegraph was on the ground in Munich and spoke with Peter Busch, the project lead for moveID and product owner for Distributed Ledger Technologies (Mobility) at Bosch, along with Leonard Dorlöchter, co-founder of Peaq, to understand better how blockchain is helping push forward the future of mobility.

When asked why mobility was the right sector to begin implementing SSI on a large scale, Dorlöchter pointed out that “with mobility especially, there’s a lot of fragmentation.”

When it comes to mobility, the goal for users is to move from one point to the other point. This is done via public transport, micro-mobility scooters, car sharing or personal cars, which need parking spots and charging.

“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.”

A Jaguar electric vehicle (EV)  equipped with a moveID communicating with a traffic light to signal charging availability via blockchain transactions. Source: Cointelegraph

Related: AI and blockchain will ‘reshape sectors’ and create new markets from scratch — Moody’s

According to Busch, decentralized identities of items on open blockchain networks are the “most promising technology” because:

“Decentralized identity allows you to authenticate and identify devices without having the intermediate or another hyperscan in the background.”

“This is the ultimate data sovereignty because the user owns their own data and keeps it and has control over it,” he…

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