How does peaq utilize the Polkadot architecture to achieve "on-chain vehicles"?

At the upcoming IAA MOBILITY 2023 auto show, the Polkadot ecosystem will have an important showcase. A well-known electric vehicle company and a luxury car brand will demonstrate the scenario of vehicles autonomously paying for charging and parking fees using the technology based on the Polkadot parachain peaq.

peaq, as a parachain of Polkadot, inherits its security and cross-chain interoperability. The project is dedicated to building a Web3 ecosystem that connects the digital world with the real world, allowing users to collectively own and benefit from real-world assets and services.

Although the industry’s attention to real-world assets (RWA) is increasing, there are still limited cases that can effectively empower real-world scenarios. Today, we will explore how large automotive companies are innovating using peaq technology, as well as the concept of "on-chain vehicles." This represents a deeper exploration of the Internet of Things economy (Economy of Things).

Introduction to Polkadot Architecture

Polkadot is a cross-chain protocol designed to enable interoperability between different blockchains. It allows independent blockchains to securely exchange information and execute transactions without the need for a trusted third party, thereby providing interoperability among blockchains.

The Polkadot network mainly consists of three types of blockchains:

1. Relay chain: As the core of the entire network, it is responsible for coordinating various parachains and bridges.
2. Parachain: An independent blockchain that can connect to a relay chain, capable of processing transactions in parallel, enhancing the overall performance of the system.
3. Bridge: Responsible for connecting Polkadot with other external networks to achieve cross-chain asset and functionality transfer.

Implementation of "on-chain vehicles"

The shared car service company ELOOP in Vienna has 100 tokenized electric vehicles. peaq provides a unique peaq ID for each vehicle, making it part of the decentralized physical infrastructure (DePin).

These vehicles are "fragmented" and jointly owned by multiple shareholders. The vehicles are first tokenized, allowing investors to become holders. Then, these vehicles are rented out, and the profits generated are distributed monthly between ELOOP and the holders at a ratio of 1:1.

Currently, these 100 electric vehicles have completed over 7,000 trips, with each transaction recorded on the peaq testnet. The officials stated that this data will soon be migrated to peaq's parachain krest on Kusama.

Vehicle Autonomous Payment Demonstration

At the upcoming auto show, peaq will demonstrate how vehicles can interact with charging stations or parking spaces using Self-Sovereign Machine Identity ( and pay fees from their own decentralized wallets.

This demonstration is endorsed by the Gaia-X alliance supported by the European Union, which is committed to promoting European digital sovereignty. Among them, the moveID project aims to establish standards and build digital infrastructure for the future mobility ecosystem, such as enabling electric vehicles to autonomously pay for charging fees.

In this process, peaq's testnet and a certain network based on Cosmos SDK will serve as the transaction and identity layer, providing technical support for these interactions.

Autonomous Economic Agency Architecture

A well-known AI network is building a decentralized smart economy, aiming to provide businesses and consumers with more efficient, secure, and intelligent transaction methods. At its core is the realization of an autonomous economic agent architecture )AEA, Autonomous Economic Agent (.

The AEA architecture includes four key elements:

1. Agent ): Each node is an independent smart agent with its own wallet address, identity, and smart contract.
2. Communication ( Connection ): A blockchain-based peer-to-peer communication protocol for information transmission between agents.
3. Skill (: Pluggable module for extending the functionality of the agent, such as natural language processing, machine learning, etc.
4. Protocol ): Defines the rules and guidelines for communication between agents.

The core of the network is to enable nodes to be intelligent, continuously growing through skill modules and collective learning. Within its ecosystem, data owners and data demanders interact through their respective agents in the open economic framework (OEF). OEF serves as a search and discovery mechanism, allowing agents representing data sources to publish accessible data, while also allowing data demanders to search for relevant data.

In the upcoming demonstration, the network will present its autonomous AI agent framework. By facilitating communication between AI agents via multi-chain IDs within the peaq network of the Polkadot ecosystem and a certain ecosystem based on Cosmos, these agents will promote interaction between devices (including vehicles, charging stations, and infrastructure) to provide users with a high-quality charging and parking experience based on SSI.