{"id":22520,"date":"2023-09-18T12:21:19","date_gmt":"2023-09-18T12:21:19","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bosch-eu-and-blockchain-companies-to-build-decentralized-iot-iaa-mobility\/"},"modified":"2023-09-18T12:21:21","modified_gmt":"2023-09-18T12:21:21","slug":"bosch-eu-and-blockchain-companies-to-build-decentralized-iot-iaa-mobility","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bosch-eu-and-blockchain-companies-to-build-decentralized-iot-iaa-mobility\/","title":{"rendered":"Bosch, EU and blockchain companies to build decentralized IoT: IAA Mobility"},"content":{"rendered":"<div data-v-281e09ba=\"\">\n<p>The engineering and technology company Bosch is at the head of a forthcoming, blockchain-based digital mobility project with backing from the German government, which was demoed live at IAA Mobility 2023 in Munich, Germany.\u00a0<\/p>\n<p>At the event, Bosch, alongside its collaborators MOBIX and the Peaq blockchain, among others, revealed a peer-to-peer parking and charging scheme utilizing moveIDs on the Peaq ecosystem. <\/p>\n<p>MoveIDs act as self-sovereign identities (SSIs), built on the blockchain permitting autonomous transactions between vehicles and connected infrastructure. The demonstration at IAA Mobility highlighted autonomous transactions between connected devices &#8211; in this case, a smart car, charging station, and signal for parking.\u00a0<\/p>\n<figure><figcaption style=\"text-align: center;\">A Jaguar electric vehicle(EV) showcasing decentralized tech w\/ integrated payment abilities. Source: Cointelegraph<\/figcaption><\/figure>\n<p>Cointelegraph was on the ground in Munich and spoke with Peter Busch, the project lead for moveID and product owner for Distributed Ledger Technologies (Mobility) at Bosch, along with Leonard Dorl\u00f6chter, co-founder of Peaq, to understand better how blockchain is helping push forward the future of mobility.  <\/p>\n<p>When asked why mobility was the right sector to begin implementing SSI on a large scale, Dorl\u00f6chter pointed out that \u201cwith mobility especially, there&#8217;s a lot of fragmentation.\u201d <\/p>\n<p>When it comes to mobility, the goal for users is to move from one point to the other point. This is done via public transport, micro-mobility scooters, car sharing or personal cars, which need parking spots and charging.<\/p>\n<p>\u201cThere are many players involved and always requiring sign-ups with new accounts, new cards, etc.. If this is happening on the blockchain, an open ecosystem, then everyone can have a seamless experience and also find the best services, best parking and charging spots.\u201d <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/09\/88e609de-39de-4ab7-b9a2-234a493fc823.jpg\"\/><figcaption style=\"text-align: center;\"><em>A Jaguar electric vehicle (EV)\u00a0 equipped with a moveID communicating with a traffic light to signal charging availability via blockchain transactions. Source: Cointelegraph<\/em><\/figcaption><\/figure>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>AI and blockchain will \u2018reshape sectors\u2019 and create new markets from scratch \u2014 Moody\u2019s<\/em><\/strong><\/p>\n<p>According to Busch, decentralized identities of items on open blockchain networks are the \u201cmost promising technology\u201d because:<\/p>\n<blockquote><p>\u201cDecentralized identity allows you to authenticate and identify devices without having the intermediate or another hyperscalers in the background.\u201d<\/p><\/blockquote>\n<p>\u201cThis is the ultimate data sovereignty because the user owns their own data and keeps it and controls it,\u201d he said. \u201cIn use cases of charging, you can see only the user and the charging pole in the car make that business &#8211; no other party around it.\u201d    <\/p>\n<p>Busch said one of the main goals and motivations of the project is to standardize the technological integration with other automotive players in Germany and across Europe.  <\/p>\n<p>He also commented that the mobility sector is a great example to big players in the industry and others how Web3 and decentralization can help with data and privacy compliance and European GDPR.\u00a0<\/p>\n<blockquote><p>\u201cThe EU government is planning to demand that every person in the EU in the future has a decentralized ID.\u201d<\/p><\/blockquote>\n<p>\u201cWhat we are developing is accessible for anyone who can download it. It will be available to all the citizens and all the businesses who would like to use it,\u201d he said.<\/p>\n<p>All of this is part of a larger European Union-funded initiative called Gaia-X, that intends to create a federated, secure data infrastructure for European digital sovereignty and lay the foundations for future smart cities.  <\/p>\n<p>Therefore, Busch stressed the importance of \u201cdesigning systems that people can use easily.&#8221;<\/p>\n<p>\u201cAny citizen in maybe like five to eight years will have this automatically and won\u2019t have to think about it because, as you have your personal ID as a card in your wallet today, it will be digitally or electronically somewhere.\u201d<\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Bosch partners with AI firm for $100M fund to empower Web3 development<\/em><\/strong><\/p>\n<p>According to the Peaq co-founder, a smart city of the future as envisioned by these projects will be a web of \u201cinterconnected things\u201d that need to have an identity and an open system.\u00a0<\/p>\n<blockquote><p>\u201cIf we look into the future and think about smart cities, they wouldn&#8217;t work and function if they were built on a Web2 platform as we know them today.\u201d<\/p><\/blockquote>\n<p>\u201cThings become alive by having an identity &#8211; it&#8217;s their passport,\u201d he said. In the case of the example seen at IAA Mobility, this is smart cars, charging stations and traffic lights.\u201cOnce they have that identity, users can find and identify with them. Then you can really create a smart city.\u201d <\/p>\n<blockquote><p>\u201cThe Internet of Things (IoT) turns into the Economy of Things (EoT) because all of those things have some economic value and that&#8217;s the future. The future of AI automation will be economic activity and machines will do what&#8217;s necessary to support society.\u201d<\/p><\/blockquote>\n<p>Creating an IoT, and therefore an EoT is similar to nation-building in the digital space. Dorl\u00f6chter concluded by saying that in order for any of this to happen these systems need to be \u201copen and decentralized systems.\u201d <\/p>\n<p>Most importantly they need to have an interoperability component that makes it so \u201ceveryone can participate in the earnings.\u201d<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Blockchain games aren\u2019t really decentralized\u2026 but that\u2019s about to change<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The engineering and technology company Bosch is at the head of a forthcoming, blockchain-based digital mobility project with backing from the German government, which was demoed live at IAA Mobility 2023 in Munich, Germany.\u00a0 At the event, Bosch, alongside its collaborators MOBIX and the Peaq blockchain, among others, revealed a peer-to-peer parking and charging scheme [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-22520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bosch, EU and blockchain companies to build decentralized IoT: IAA Mobility | NFT &amp; 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