The document proposes an intelligent parking solution using IoT, machine learning and blockchain to address challenges in urban parking services. IoT sensors would detect parking availability and validate bookings. Machine learning would analyze data to compute optimal parking rates and policies. Blockchain would provide a shared ledger for all parking transactions, payments, and asset management across multiple operators. This is envisioned to optimize parking utilization, reduce disputes, and support smart city initiatives through decentralized technologies.
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Iot slam presentation v0.8_f 12062018
1. 12/6/20181
WE TURN BLOCKCHAIN INTO BUSINESS RESULTS.
Intelligent Parking based on
IoT/Blockchain to support Smart City
Evolution
Mohan Venkataraman, Chief Technology Officer at Chainyard
Phanindra Murthy, Co-founder of Parkulus Solutions
Nikhil Polavarapu, Blockchain Consultant
Credits: Aashish Shreshtha, Isaac Kunkel, Abhishek Mishra
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Key Challenges in Urban Parking Services
❖ Parking space availability is not keeping pace with increase in
the number of vehicle ownership in urban spaces.
❖ Policies are not well understood leading to parking violations
and disputes with the City or County
❖ Parking lots usage are not optimized leading to peaks and
valleys in occupancy and revenue generation
❖ Finding a parking spot is frustrating for drivers leading to
energy burn, lost time and increased vehicular accidents
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2018 CHAINYARD@
6. 12/6/20186
What does the data show?
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2018 CHAINYARD@
Average loss of time
in finding affordable
parking spot per
driver in US is 17
hours with combined
costs amounting to
$72.2 billion annually
35% of commuters
travel during rush
hours looking for free
parking spots that are
hard to find
Drivers in New York
City spent an average
of 107 hours (against
a nationwide average
of 17) per driver per
year looking for
parking, and this costs
them $2,243 per
driver per year
Median fees for
violating regulations
ranged from $25
(meter violations) up
to $200 (handicapped
parking violations)
across 107 US cities
2016 Survey done in
US reported 32% of
events where
arguments and fights
ensued with fellow
drivers due to
frustration causing
traffic issues
Sources: PRNews & USA Today Sources: Sierra & Parkres Source: INRIX
Source: Circontrol Source: Sagepub
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❖ Multi parking Garage or Transparent Lot
Management – Multi Tenancy
❖ Identity Management of Devices and other
Participants
❖ Reduction of disputes through trusted and
auditable transactions in the immutable ledger
❖ Tokenize the Parking Slots to enable dynamic
pricing and potential time-sharing model
❖ Opportunity for individuals to rent private
parking space
❖ Smart contracts to assist with dynamic pricing
to enable capacity utilization and maximizing
revenue
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The Blockchain Advantage
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2018 CHAINYARD@