How does peaq utilize the Polkadot architecture to create an "on-chain TSL"?

Recently, Polkadot announced that TSL and Jaguar will showcase a demonstration of charging and parking fee payments using the Polkadot parachain peaq technology at the IAA MOBILITY 2023 auto show. This news has sparked widespread attention in the industry regarding the application prospects of blockchain technology in the automotive sector.

peaq, as a parachain of Polkadot, is committed to building a Web3 ecosystem based on blockchain and Internet of Things technology. Its goal is to connect the digital world with the real world, allowing users to collectively own and benefit from services and goods based on the real world. This attempt to combine real assets with blockchain technology is one of the current hotspots in the exploration of the Web3 field.

The unique architecture of the Polkadot network provides strong technical support for peaq. As a cross-chain protocol, Polkadot aims to connect and secure different blockchains to achieve interoperability between them. Its core components include the relay chain, parachains, and bridges, which together form an interoperable ecosystem.

In this ecosystem, peaq is promoting the concept of "on-chain TSL". Taking the Vienna-based car-sharing service ELOOP as an example, the company has 100 tokenized Tesla electric vehicles. Peaq provides each car with a unique ID, making it part of a decentralized physical infrastructure (DePin). Once these vehicles are "fragmented", multiple investors can jointly hold them and receive a share of the rental income.

At the upcoming IAA MOBILITY 2023 auto show, TSL and Jaguar will demonstrate how to use peaq technology to achieve autonomous payment for charging and parking fees. This demonstration will combine the results of the Gaia-X and moveID projects to showcase the potential of future mobility ecosystems. In this process, vehicles will interact with charging stations or parking spaces using autonomous machine identities and complete payments through decentralized wallets.

It is worth noting that this demonstration will also involve the Fetch.ai network, which is committed to building a decentralized intelligent economy. Fetch.ai's Autonomous Economic Agents (AEA) architecture will provide an autonomous AI agent framework for the demonstration, enabling cross-ecosystem communication through multi-chain IDs.

This demonstration is not just a technical showcase, but also a practice of the concept of the Economy of Things. It shows how blockchain technology empowers the traditional automotive industry and paves the way for future smart transportation systems. By connecting vehicles, charging stations, and infrastructure, peaq and its partners are exploring a new type of user experience based on Self-Sovereign Identity (SSI).

As these technologies continue to develop and be applied, we can expect to see more real-world assets being introduced into the blockchain ecosystem, further promoting the application and popularization of Web3 technology in daily life.