This week Car Vertical announced the release of their latest innovation ‘carVertical.CITY’, an IoT centric application which incorporates IOTA’s Tangle network for recording transaction data and parking information.
According to the official release, the app will build on the autonomous driving experience that is currently being developed worldwide, to include automatic parking payments that utilize GPS tracking and IOTA’s DLT technology.
“If the vehicle stops in the paid parking zone, carVertical.CITY automatically records parking start time and price in the zone. When you drive away, an app autonomously makes a new IOTA transaction pointing that your parking is finished and defining the services cost.”
The new strategic partnership with Car Vertical adds to IOTA’s long line of working relationships with companies involved in the self-driving vehicle industry, including tech giants Volkswagen (DE:VOWG_p) and Bosch. However, in spite of the project’s ongoing work in this field, IOTA’s token value has continued to struggle to attract sign…