peaq, a blockchain platform tailored for real-world applications, has recently expanded its ecosystem with the addition of PowerPod, a venture focused on decentralizing electric vehicle (EV) charging infrastructure. PowerPod’s initiative involves the creation of a decentralized physical infrastructure network (DePIN) comprising community-owned EV charging stations.
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In this collaboration, peaq will serve as the layer-1 backbone for the DePIN, facilitating functions such as storing charging session data, managing transactions, and rewarding users with tokens for contributing to a more sustainable mobility future.
The rise of electric vehicles, seen as a more environmentally friendly option, is gaining momentum. However, a significant hurdle hindering their widespread adoption is the inadequate infrastructure, particularly the scarcity of charging stations. Approximately one-third of potential EV buyers have cited this issue as a deterrent.
Interestingly, the hundreds of thousands of privately owned chargers installed by EV owners represent a significant untapped resource that could bolster the industry, simultaneously empowering individuals to monetize their energy assets.
PowerPod’s innovative platform aims to address this gap by enabling individuals to share their EV chargers with other drivers and earn rewards for providing this service. Alongside its user-friendly app facilitating these interactions, PowerPod is developing a suite of hardware devices, including smart charger adapters, chargers, and travel adapters. These devices will constitute the infrastructure of the DePIN, handling charging session data and facilitating payment transactions.
In its integration with peaq, PowerPod will equip these devices with multi-chain self-sovereign peaq IDs, enabling seamless connectivity with the blockchain. Furthermore, peaq will provide data storage capabilities, and PowerPod plans to launch its token on the peaq mainnet in the near future. The collaboration also involves utilizing peaq to establish a rewards mechanism, incentivizing users with tokens for their participation in the DePIN ecosystem.
According to Ting, Co-founder at PowerPod, “The DePIN model is perfect for unleashing the full capacity of the electric vehicle industry.”
“Through leveraging Web3, PowerPod empowers people globally to contribute to a more sustainable future while also capitalizing on existing charging infrastructure.”
Ting, Co-founder at PowerPod
He adds, “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.”
Till Wendler, co-founder of peaq, echoes this sentiment, stating, “The smart mobility industry has been displaying a lot of excitement about Web3. 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.”
In summary, the collaboration between PowerPod and peaq represents a significant advancement in enhancing the accessibility and sustainability of electric vehicle charging infrastructure. By leveraging blockchain technology and decentralized economics, they aim to revolutionize the EV charging landscape, ushering in a more inclusive and eco-friendly era of transportation.
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About peaq
peaq is the blockchain for real-world applications. The peaq layer-1 blockchain enables anyone to build decentralized applications (dApps) and Decentralized Physical Infrastructure Networks (DePINs) for car-sharing, street-mapping, Web access, and more, creating real-world value as part of the Economy of Things. On peaq, robots, vehicles, and other connected devices turn into dynamic real-world assets (RWAs) serving communities through fractional ownership. Through peaq’s Wormhole integration, the machines on peaq are linked with 30+ Web3 ecosystem totalling billions’ worth of liquidity.
peaq works with industry-leading consortia such as Gaia-x moveID, a €20+ million project led by Bosch, to co-create the future of smart mobility, energy, connectivity, and other important real-world industries. By empowering everyone to own, govern, and earn from the devices and infrastructure they use, peaq is democratizing abundance in the age of AI-driven automation.
For more information, visit peaq, follow peaq on Twitter for updates, and join the conversation on Discord.
About PowerPod
PowerPod is a shared EV charging network powered by blockchain technology and economics. Leveraging token incentives to decentralize and empower individuals and entities to establish a charging network powered by the community, reshaping the landscape of traditional charging services. This initiative significantly enhances the accessibility of EV chargers while reducing the cost of charging.
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