How does the Polkadot ecosystem achieve "on-chain TSL"? peaq technology empowers future mobility.

The Polkadot ecosystem has achieved an important breakthrough, with TSL and Jaguar showcasing innovative applications for charging and parking fee payments using peaq technology at the IAA MOBILITY 2023 auto show. As a parachain of Polkadot, peaq is committed to building a Web3 ecosystem that connects the digital world with the real world, allowing users to collectively own assets that generate revenue based on real-world services and goods.

This innovative application represents an in-depth exploration of the Internet of Things economy ( Economy of Things ). Although real-world assets ( RWA ) have recently garnered attention, effective cases that truly empower real-world scenarios are still limited. This article will explore how large automotive companies leverage peaq technology for empowerment, as well as the specific implementation of "on-chain TSL."

Polkadot Architecture Overview

Polkadot is a cross-chain protocol designed to connect and secure different blockchains. It allows independent blockchains to securely exchange information and execute transactions without the need for a trusted third party, thus achieving interconnectivity and interoperability between blockchains. The Polkadot network consists of three types of blockchains:

1. Relay Chain: As the core of the Polkadot network, it integrates all parachains and bridges into a shared interoperable ecosystem.
2. Parachain: An independent blockchain that can connect to the Polkadot relay chain, enabling parallel processing of transactions and system scalability.
3. Bridge: Responsible for connecting Polkadot with other networks to enable cross-chain transfer of tokens and functionalities.

on-chain TSL's implementation

The Vienna car-sharing service company ELOOP owns 100 tokenized TSL vehicles. peaq provides each car with a unique peaq ID, making it part of the decentralized physical infrastructure (DePin). These vehicles are "fragmented" and co-owned by multiple shareholders. Investors can become token holders and participate in the profit distribution generated from fleet leasing, shared 1:1 with ELOOP, settled monthly.

Currently, these 100 TSL have completed over 7000 trips, with each transaction recorded on the peaq testnet. The officials stated that this data will soon be migrated to peaq's Kusama parachain krest.

Innovative Payment Demonstration

At the upcoming auto show, TSL and Jaguar will showcase the process of automatic payment for charging and parking fees using peaq technology. This demonstration is part of the Gaia-X 4 Future Mobility project moveID, aimed at creating standards and digital infrastructure for the future mobility ecosystem.

In the demonstration, the vehicle will register with charging stations or parking spaces using its autonomous machine identity and pay the related fees from its decentralized wallet. The peaq testnet and the Fetch network based on Cosmos SDK will serve as the transaction and identity layer to support these interactions.

Fetch.ai and Autonomous Economic Agents

Fetch.ai is a project dedicated to building a decentralized intelligent economy, aiming to provide businesses and consumers with more efficient, secure, and smart trading methods. Its core is the autonomous economic agent architecture (AEA), which includes the following four key components:

1. AEA Agent: Each node acts as an independent smart agent, possessing its own wallet address, identity identifier, and smart contract.
2. AEA Communication: A blockchain-based peer-to-peer communication protocol that enables information transfer between agents.
3. AEA Skills: pluggable modules that extend the functionality and capabilities of agents, such as natural language processing, machine learning, etc.
4. AEA Protocol: Defines the rules and guidelines for communication between agents.

On the Fetch.ai network, data owners and demanders interact through their respective agents within the open economic framework (OEF). OEF acts as a search and discovery mechanism, allowing data source agents to publish their accessible data, while data demanders can search for relevant data agents.

At the IAA MOBILITY 2023 auto show, Fetch.ai will showcase its autonomous AI agent framework. By enabling communication between AI agents through multi-chain IDs within the Polkadot ecosystem's peaq network and the Cosmos-based Fetch ecosystem, these agents will facilitate interactions between devices (including vehicles, charging stations, and infrastructure), providing users with an optimized charging and parking experience based on SSI.