NetObjex Unveils Dynamic Electric Vehicle Charging Via IOTA

Original post:
https://investfeededge.com/iot-blockchain-platform-company-netobjex-unveils-dynamic-electric-vehicle-charging-via-iota/

NetObjex, an IoT blockchain platform company, recently held demonstrations showcasing what they believe is the future of electric vehicle charging using the IOTA tangle and MIOTA (MIOTA/USD) as a method of payment. The solution involved the electric vehicle in question changing to a lane that was dedicated for electronic charging, and how micropayments would be transacted through IOTA.

“This proof of concept highlights key issues such as inter-device communication across trust boundaries, and how that can be overcome through the use of decentralized networks,” said Raghu Bal, CEO of NetObjex. It also enabled us to explore last-mile communication options between devices, and how micropayments can be handled.”

NetObjex also announced this coupled with partnership agreements with both IOTA, and the International Transportation Innovation Center (ITIC).  The ITIC is responsible for testbeds for innovations in sustainable vehicle technology, and blockchains are a hot topic now due to the increase in their adoption across all verticals.

It doesn’t come as a surprise that the workshops demonstrating the proof of concept were held in Florida and California. The states hold the number one and number five spots respectively for electronic vehicle sales in the United States.

This proof of concept provides a solution to not only identify the object being charged (the car) in a unique way, but also establishes the entire stack of operations to process payments in a trustless manner. The importance of MIOTA is the fact that there is no transaction fee in the microtransactions that are being processed. Though it’s only a concept at the moment, it’s another demonstration of a potential real-world use-case for IOTA‘s tangle.