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Bosch, EU and blockchain companies to build decentralized IoT: IAA Mobility

Bosch, EU and blockchain companies to build decentralized IoT: IAA Mobility

The engineering and technology company Bosch is leading a blockchain-based digital mobility project supported by the German government. The project was demonstrated live at IAA Mobility 2023 in Munich, Germany.

During the event, Bosch, along with Mobix and Peaq Network, showcased a peer-to-peer parking and charging scheme that utilizes moveIDs on the Peaq ecosystem.

MoveIDs function as self-sovereign identities (SSIs) built on the blockchain, enabling autonomous transactions between vehicles and connected infrastructure. The demonstration at IAA Mobility showcased autonomous transactions between a smart car, charging station, and parking signal.

A Jaguar electric vehicle(EV) showcasing decentralized tech w/ integrated payment abilities. Source: Cointelegraph

Cointelegraph interviewed Peter Busch, the project lead for moveID and product owner for Distributed Ledger Technologies Mobility at Bosch, and Leonard Dorlöchter, co-founder of Peaq Network, to gain insights into how blockchain is shaping the future of mobility.

Dorlöchter explained that mobility is the ideal sector to implement SSI on a large scale due to its inherent fragmentation. The goal of mobility is to move from one point to another, utilizing various modes of transportation like public transport, micro-mobility scooters, and car-sharing. These modes require parking spots and charging facilities.

Busch highlighted that decentralized identities of items on open blockchain networks are the most promising technology. Decentralized identity allows authentication and identification of devices without intermediaries, ensuring ultimate data sovereignty for users.

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The project aims to standardize technological integration with automotive players in Germany and Europe. It also serves as an example to the industry on how Web3 and decentralization can address data protection regulations. The EU plans to require decentralized IDs for all citizens in the future.

All of this is part of Gaia-X, a European Union-funded initiative that aims to establish a secure data infrastructure for European digital sovereignty and enable future smart cities.

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According to Dorlöchter, in a smart city of the future, interconnected things require identities and open systems. Creating an IoT and EoT (Economy of Things) relies on open and decentralized systems that enable everyone to participate in the earnings.

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