Smart Mobility under the Polkadot Ecosystem: How peaq Drives the Realization of on-chain TSL

Recently, there has been remarkable news from the Polkadot ecosystem: TSL and Jaguar will showcase a demonstration of charging and parking fee payments using Polkadot parallel chain peaq technology at the IAA MOBILITY 2023 auto show. This news has sparked widespread discussions in the industry about the prospects of blockchain technology in the smart mobility sector.

peaq, as a parachain of Polkadot, is dedicated to building a Web3 ecosystem that connects the digital world with the real world. Its goal is to enable users to co-own income-generating assets based on real-world services and goods. This attempt to combine blockchain technology with the Internet of Things provides new possibilities for exploring the applications of real-world assets (RWA).

The unique architecture of the Polkadot network provides a solid foundation for the development of peaq. As a protocol that supports multi-chain interoperability, Polkadot achieves high scalability and interoperability through three types of blockchains: relay chains, parachains, and bridges. This structure allows parachains like peaq to maintain independence while sharing the security and interoperability advantages of the entire network.

In practical applications, peaq has begun to showcase its potential. Taking the Vienna car-sharing service company ELOOP as an example, the company owns 100 tokenized TSL vehicles. Peaq provides a unique decentralized identity (peaq ID) for each car, making it part of a decentralized physical infrastructure (DePin). These vehicles are "fragmented" and co-owned by multiple shareholders, with the profits generated from rentals distributed proportionally between ELOOP and the holders.

What is even more exciting is the payment demonstration that will be showcased at the IAA MOBILITY 2023 auto show. In this EU-supported Gaia-X 4 Future Mobility project, peaq will serve as the underlying blockchain infrastructure, enabling electric vehicles to interact with charging stations or parking spaces using autonomous machine identities and pay fees from their own decentralized wallets.

This demonstration also incorporates the technology of Fetch.ai, introducing the concept of Autonomous Economic Agents (AEA). Fetch.ai aims to build a decentralized intelligent economy that achieves more efficient, secure, and smarter transaction methods by allowing network nodes to manage themselves.

In this innovative ecosystem, the four core components of AEA agents, communication, skills, and protocols work together to enable network nodes to have intelligent decision-making capabilities. The application of this technology will provide users with the best charging and parking experience based on Self-Sovereign Identity (SSI).

These innovative attempts in the Polkadot ecosystem not only showcase the practical application potential of blockchain technology in the real world, but also provide new ideas and possibilities for the future development of the smart mobility field. As technology continues to mature and application scenarios expand, we have reason to expect to see more "on-chain TSL"-style innovations become a reality in the near future.