Blockchain
PowerPod joins peaq to demolish critical barrier to electric vehicle adoption
peaq, the blockchain for real-world applications, announces the expansion of its ecosystem, as PowerPod joins to decentralize electric vehicle (EV) charging. PowerPod is building a decentralized physical infrastructure network (DePIN) of community-owned EV charging stations. As part of the integration, the project will use peaq as the layer-1 backbone for its DePIN, using it to store charging session data, handle transactions, and reward the users with tokens for powering a more sustainable future of mobility.
Seen as an eco-friendlier version, EVs are growing more popular by the day. Deterring this growth is the lack of available infrastructure, especially chargers, with about one-third prospective EV buyers citing such concerns as the reason they didn’t go ahead with the purchase. The hundreds of thousands of private chargers set up by EV owners could be a massive boon to the industry, closing a vital gap while empowering individuals to earn from their energy assets.
PowerPod is building a platform that will enable people to do just that —- open up their EV chargers for fellow drivers to use and earn rewards for providing the charging service. Besides its app, which will enable these interactions, PowerPod is also working on a range of hardware devices, including a smart charger adapter, a charger, and a travel adapter that will enable EV owners to charge their vehicles from regular sockets. These devices will make up a DePIN handling charging session data and enabling drivers to pay for the energy.
As part of its integration with peaq, PowerPod will outfit these devices with their multi-chain self-sovereign peaq IDs, enabling them to connect with the blockchain. It will also leverage peaq for data storage and eventually launch its token on the peaq mainnet, set to go live in the coming months. It will also use peaq to set up its rewards mechanism, granting users tokens for interacting with the DePIN.
“The DePIN model is perfect for unleashing the full capacity of the electric vehicle industry,” says Ting, Co-founder at PowerPod. “Through leveraging Web3, PowerPod empowers people globally to contribute to a more sustainable future while also capitalizing on existing charging infrastructure. The DePIN-focused functionalities and economic framework offered by peaq will expedite our development and deployment significantly. We’re enthusiastic about our participation in this dynamic ecosystem.”
“The smart mobility industry has been displaying a lot of excitement about Web3,” says Till Wendler, co-founder of peaq. “It’s thrilling to see PowerPod use the DePIN model to close a vital gap for the electric vehicle market while also giving individuals more ownership in its hardware backbone. We are certain that PowerPod will bring new value and opportunities for the entire ecosystem.”
The post PowerPod joins peaq to demolish critical barrier to electric vehicle adoption appeared first on HIPTHER Alerts.
Blockchain
Orthogonal Global Group supports tokenization of telecommunications minutes markets though purchase of MNT tokens, and announces the closing of a $5 Million fund by portfolio company, Contango Digital Assets, for AI x blockchain
Blockchain
CompoSecure Reports Record First Quarter 2024 Financial Results and Declares Special Cash Dividend
Blockchain
RevoluGROUP Canada Inc. Announces $1 Million Private Placement, Ex-CEO Marshall Outreach to Bernard Lonis Company Chairman
-
Blockchain5 days ago
Meritrust Credit Union Joins Metal Blockchain’s Banking Innovation Program
-
Blockchain Press Releases6 days ago
CoinRoutes partners with Coinbase International Exchange to improve institutional access to perpetual futures
-
Blockchain7 days ago
Cryptocurrency market sees decline as Bitcoin and Ethereum slip
-
Blockchain Press Releases7 days ago
KuCoin Campus Survey Reveals: 88% of Participants Eager to Build Careers in Blockchain
-
Blockchain Press Releases5 days ago
Deltec Bank Receives System and Organization Controls (SOC 2) Type 1 Certification
-
Blockchain4 days ago
ZettaBlock announces the addition of blockchain data
-
Blockchain5 days ago
Global eCommerce Payments Markets to 2030 | A $612 Billion Opportunity | Blockchain Technology and Cryptocurrencies Reshaping eCommerce by Providing Secure, Cross-Border Payment Solutions
-
Blockchain Press Releases6 days ago
Discover Move Move Coin: Is This the Next Sports Blockchain for Your Workout?