POWERPOD AND PEAQ COLLABORATE TO OVERCOME MAJOR HURDLES IN ELECTRIC VEHICLE ADOPTION
Blockchain platform peaq announces an ecosystem expansion with the inclusion of PowerPod, a venture aiming to decentralize electric vehicle (EV) charging infrastructure. PowerPod focuses on establishing a decentralized physical infrastructure network (DePIN) comprised of community-owned EV charging stations.
In this collaboration, peaq will serve as the layer-1 backbone for PowerPod’s DePIN. It will handle tasks such as storing charging session data, managing transactions, and rewarding users with tokens, contributing to a more sustainable future of mobility.
EVs, recognized as an environmentally friendly option, are gaining popularity. However, the scarcity of infrastructure, particularly charging stations, impedes this growth, with about one-third of potential EV buyers citing this issue as a deterrent. PowerPod aims to address this challenge by tapping into the hundreds of thousands of private chargers set up by EV owners, creating a network that benefits the industry while allowing individuals to earn from their energy assets.
peaq collaborates with leading consortia like Gaia-x moveID, a €20+ million project led by Bosch, to co-create the future of smart mobility, energy, and connectivity. By democratizing ownership and enabling users to earn from the devices and infrastructure they utilize, peaq contributes to abundance in the age of AI-driven automation.
PowerPod’s platform facilitates the opening up of EV chargers for mutual use, allowing owners to earn rewards for providing charging services. Alongside its app, PowerPod is developing hardware devices, including a smart charger adapter, a charger, and a travel adapter, facilitating EV charging from standard sockets. These devices constitute a DePIN, managing charging session data and enabling energy payment.
In the integration with peaq, PowerPod will equip its devices with multi-chain self-sovereign peaq IDs, connecting them with the blockchain. It will leverage peaq for data storage and intends to launch its token on the peaq mainnet, set to go live in the upcoming months. Furthermore, peaq will be utilized to establish the rewards mechanism, granting tokens to users for engaging with the DePIN.
Ting, Co-founder at PowerPod, expresses optimism about the collaboration, emphasizing the potential of the DePIN model to unlock the full capacity of the electric vehicle industry globally. Till Wendler, co-founder of peaq, acknowledges the significance of PowerPod’s use of the DePIN model in bridging a crucial gap for the EV market while providing greater ownership to individuals in its hardware backbone. The collaboration is expected to bring new value and opportunities to the ecosystem.
Joel Nwankwo From The News Source: Techeconomy
