NetObjex Demonstrates Decentralized Smart-Parking Solution With Cryptocurrency Payment

The IoT-blockchain platform company recently demonstrated a payment solution using the IOTA decentralized network and cryptocurrency.
By IOT Journal
Jan 08, 2018

PRESS RELEASE:

NetObjex Inc, an Irvine, CA based IoT-BlockChain platform company, recently demonstrated a first-of-its-kind smart parking payment solution using the IOTA decentralized network and cryptocurrency.

NetObjex demonstrated the solution at the IOT Developer's Forum organized by Advantech, a leading manufacturer of Internet of Things LoRa solutions, in Santa Clara, California. Also participating in the event was PNI Sensor Corporation, of Santa Rosa, California – the world's foremost expert in precision location, motion tracking, and fusion of sensor systems into real-world applications.

The demonstration showcased the ability for automobiles to autonomously pay for parking through the integration of crypto wallets. The Smart Parking solution utilized PNI's PlacePod smart parking sensors for accurate, real-time vehicle detention and location of available parking spaces . Communications between PlacePod sensors and the cloud leveraged Advantech's LoRa Solutions – M2.COM standardized LoRa IoT Sensor Node WISE-1510 and LoRa IoT Gateway WISE-3610.

In addition, car to parking meter communications utilized the Bluetooth Low Energy technology with Digital Short Range Communication(DSRC) versions planned in the future. Completing this sophisticated architecture was the use of the IOTA decentralized network by the NetObjex platform as a distributed ledger for enabling device Discovery, Authentication, Communication and Transactions.

"Our goal in organizing the IoT Developer's Forum is to engage the developer community in leading edge solutions that exercise all of the capabilities of our M2.COM architecture, and multi-protocol approach in enabling IoT solutions", stated Shawn Jack, Director of Sales & Embedded Ecosystems.

"The smart parking solution is a practical demonstration of the NetObjex platform in bringing together state-of-the-art capabilities in the form of IoT sensor technology, LoRa communications, decentralized networks and cryptocurrency. Our partnership with Advantech, PNI, and IOTA augurs exciting possibilities ahead" said Raghu Bala, CEO of NetObjex.

"PNI was excited to partner with Advantech and NetObjex to highlight some of the advancements in smart parking technology, and how developers can leverage real-time parking data from our PlacePod smart parking solution to improve other services such as mobile payment," stated Robin Stoecker, Director of Marketing at PNI Sensor Corporation.

The solution provided further evidence of the digital transformation in the transportation sector, and the interplay between various advanced technologies in bringing about effective change.

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