Blockchain technology is all the rage these days, as applications for the secure distributed ledger system proliferate. Recent reports include applications in agriculture, finance, and now, electronic vehicles according to a recent report.
Most systems for charging electric vehicles are located in individual users’ homes.
This means that after the user has left for work, the charger is sitting idle until evening.
One company is seeking to build a peer-to-peer system designed to allow electric vehicle drivers to share and receive payment for their charging stations during off hours.
Since electronic charging stations are few and far between on California highways, the distributed system would allow electronic motorists access to charging locations throughout the state.
Blockchain-powered solution
The way for such a system to function is via Blockchain technology since the peer-to-peer nature of the system is designed to allow individual users to set their own price, track users and receive payment with certainty.
The technology is already being used successfully in Germany, where drivers have been able to utilize private electric charging stations. If the system works, many states will certainly follow California’s lead.
