AutoPartsAsia | FEBRUARY 2018 | 57the same time. In this sort of set-up
there is no room for doubt. You put
the data in a trusted place which is
the Blockchain.”
Smart contracts are an interesting
feature of several blockchain
technologies wherein certain
code is executed when a specific
condition is met, for instance,
record every instance when a
truck driver exceeds the speed
limit by 20kmph. “Blockchain is
a combination of data, logic and
networks,” quipped Bala.
IoT And Blockchain
In Automotive
When asked, how IoT and
Blockchain can reshape the
landscape of automotive, Bala
provided several examples.
“In automotive it can be used for
smart parking. We work with a
parking sensor company called
PNI which has sensors on the
road, under the asphalt. The car’s
metal and the sensor couple so it
knows there is something heavy
sitting on the road and that the
parking slot is taken, so you know
how many slots are left. Using
IoT we can calculate the parking
charge based on the time taken.
We extended this by incorporating
the IOTA decentralized network
and incorporated usage-based
billing via cryptocurrency payments.
The parking meter is just oneexample of how crypto-currency
and decentralised networks are
changing the world of automotive,”
Bala said.
Bala highlighted the functioning
of the fast-food chains in the US
where drive-through is a very big
business. “About 75 percent of all
fast-food revenues in the USA is
from drive-thru. If you move that up
by just one percent it means billions
of dollars of additional revenues.
As cars become autonomous, the
idea is to make cars an extension of
the driver by equipping them with
a digital wallet. With this, the car
can use crypto-currency to make
payment at the drive thru and all the
passenger has to do is to pickup
the food and move on. This saves
time and removes billing errors. In
automotive, it is all about trying to
make the cars smarter,” he said.“We developed a prototype for
Dynamic Wireless Electric Vehicle
(EV) charging partnering with
the automotive consortium ITIC
(International Transportation
Innovation Centre). We
demonstrated it in the city of
Seaside, Florida to a major
automotive OEM and they liked
what they saw. We are in talks
to take it forward. It is wireless
dynamic EV charging where you
drive your car in a particular lane
that has coils underneath it. The car
will have induction equipment to
pick up the charge for the battery
while in motion. Billing will be
usage-based i.e. for the time spent
in the lane, from entry to exit. InRaghu BalaPNI Sensor