Advanced Blockchain: Portfolio company peaq with significant progress and decentralized mobility demos at IAA Mobility with Gaia-X

Advanced Blockchain: Portfolio company peaq with significant progress and decentralized mobility demos at IAA Mobility with Gaia-X

• Peer-to-peer parking and charging scheme
• Autonomous transactions between connected devices

September 20, 2023 – Advanced Blockchain´s portfolio company peaq together with Gaia-x moveID unveiled last week at the IAA in Munich a decentralized IoT function for parking and charging vehicles. Both companies demonstrated how the future of the Internet of Things and the Economy of Things will be based on decentralization and on-chain automation. At the event a peer-to-peer parking and charging scheme utilizing IDs on the Peaq ecosystem was demonstrated. Advanced Blockchain is the major shareholder of peaq.

The core functions are autonomous transactions between vehicles and connected infrastructure. The demonstration at IAA Mobility highlighted autonomous transactions between connected devices: a smart car, charging station and signal for parking. The main advantage was also shown: There are many players involved and always requiring sign-ups with new accounts and new cards, amongst others. 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.

Leonard Dorlöcher, Co-Founder of peaq network, comments: “If we look into the future and think about smart cities, they wouldn’t work and function if they were built on a Web2 platform as we know them today. The Internet of Things turns into the Economy of Things because all of those things have some economic value and that’s the future. The future of AI automation will be economic activity, and machines will do what’s necessary to support society.”

A European Union-funded initiative called Gaia-X, with an overall size of more than €20 million, supports peaq, Bosch and others in this initiative. Gaia-X intends to create a federated, secure data infrastructure for European digital sovereignty and lay the foundations for future smart cities.


Important events for Advanced Blockchain in the 2023 financial year:
September 2023 - Publication of the half-year financial statements as of June 30, 2023
November 27-29, 2023 - Deutsches Eigenkapitalforum 2023, Frankfurt

Contact:
ir@advancedblockchain.com

About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.

For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.