Parq

Global warming is a threatening issue which is making our planet warmer by every passing day. The burning of fossil fuel through vehicles and industrial uses is one of the main causes contributing to the problem. Parq is a blockchain based platform which uses smart contracts and IOT technologies to bring forward a solution related to parking and transportation industry. It is essentially solving traffic congestion and pollution problems through its green, smart and connected city platform.

Now that we have learned the purpose of this ecosystem, we can move forward to the associated advantages for its users. The stakeholders of Parq program will be the drivers, owners of public and private parking lots and every other user providing real-time data about

available parking spaces, traffic conditions, and alternate routes. All of these users will be rewarded for providing data in the form of Parq tokens. It is the native and utility token of the platform which can also be traded. It is a multi-rewarding venture which benefits even the ones who don’t have a direct stake in parking and transportation like users providing the data to the platform for money.

Benefits for the drivers

Drivers will be able to reserve their parking lot even before leaving their place by advance payment through their website or mobile application. It is based on Ethereum blockchain which uses smart contracts to ensure that you don’t get charged more than what you agreed upon. The ecosystem also facilitates the drivers in finding the fastest and shortest route to their parking lot. This way Parq contributes to the environment in a positive manner by reducing the fossil fuel consumption.

Green, Smart, and Connected City platform

The program addresses the decades-old and outdated city infrastructures which is causing transportation and parking problems. As we have learned that the drivers will be getting information about the available parking lots remotely, it will all depend on the real-time data. Users, garage owners, and drivers can contribute by providing information to the platform in return of money (Parq token). This reward is announced so that the stream of real-time data never stops coming and the stakeholders continuously get the actual information.

Benefits for the parking spot owners

Whether you own private parking lots, a garage, or you happen to be a corporation or municipality representative, you can conveniently sell your parking lots, advertise the available lots, add or remove available parking lots by using this application. The application has a friendly dashboard which is easy to use for managing your data and information. Everyone has access to the data which they can use to analyze when the parking lots are free and hence advertise those time-slots for maximum utilization of their space.

Parking App providers

This platform is adaptable to be used by other parking apps. They can integrate their apps into this ecosystem and use all of its features. The good thing is that they can customize their dashboard as per respective taste and convenience. It also offers a bounty program to reward the early adopters and developers.