A trail project led by Fetch.ai and a blockchain company called Datarella has launched in Munich to A.I a parking facility of a company called Connex.
The purpose behind the technology is to control pricing on the buildings parking spaces and rewarding employees whom don’t use the parking with public transport passes.
“It could say okay if you park closer, you’re going to be charged more; if you park farther away, you’ll be charged less,” says Humayun Sheikh, CEO of Fetch.ai. “We reward you for doing certain actions and we discourage you from doing certain actions.”
This sort of system has shown that putting a price on parking based on demand has shown a reduction in vehicle miles travelled and greenhouse emissions.
From a commercial point of view: Fetch.ai’s approach aims to streamline the process of finding a parking spot using an app that drivers can set to automatically book parking spaces when available, based on predetermined price and location settings.
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