Decentralized Parking With Bitcoin Payments Is The Next Big Thing

More and more aspects of our daily lives are taking on a decentralized shape.  Whether it is the way we consume content, or how we use a cab, things are vastly different compared to five years ago.  And the decentralization revolution has only just begun.  Several companies are now working on the decentralized aspect of parking your car.

Parking Your Car In A Convenient Way

A lot of people on this planet spend multiple hours of every day inside their cars while driving to and from work, taxi-ing children to different locations, et cetera.  There is one thing all of these car-related tasks have in common: finding a proper place to park your vehicle.  A task that sounds so mundane and easy, yet, in reality, is very time-consuming, if not frustrating at times.

This is the main reason various companies – including the likes of Organic Parking and MonkeyParking – are coming up with creating decentralized solutions to that problem. Rather than looking for available parking spots yourself, users can “bid” on available parking places using a mobile application.

Doing so serves two important purposes: on the one hand, people can park wherever they want – albeit at a small fee – which reduces the time spent parking your car.  Then, when you are leaving the parking spot, you can ”auction” it to the next high bidder.   And what better way to eliminate any associated transaction fees than by using Bitcoin as a payment method?

“The Bitcoin is a fair exchange currency that fits into Organic Parking’s shared economy paradigm – peer-to-peer sharing, ease of use, no transfer fees – and fractional small amounts become ideal for Organic Parking.  It also addresses the needs of a different set of customers who are more futuristic, resourceful, innovative, and, therefore, organic.” – Organic Parking CEO Founder Kostas Terzidis told the media.

Opposition From Officials

As you would come to expect, the decentralization revolution does not sit well with city councils and government officials.  Especially not if these decentralized use cases are tied to Bitcoin, a digital currency posing a major threat to the current financial infrastructure we have all grown accustomed to.

One fact that cannot be denied is how Bitcoin lends itself perfectly to small payments inside the network of decentralized applications.  Bitcoin’s underlying blockchain technology is one of the frontrunners in terms of decentralization on a large scale, and the monetary aspect with the low transaction fees makes Bitcoin perfect for small transactions.

Additionally, there is absolutely nothing preventing cities or even governments from developing their decentralized applications.  In doing so, it would still be regulated by a central authority, yet would make lives so much easier for many people.  Whether or not they would adopt Bitcoin as a payment method seems unlikely at this point, but that would just be delaying the inevitable.

Source: IHB

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