Blockchain Can Solve Electric Vehicle Charging System
August 16, 2019 8:44 pm
University of Waterloo, Canada has recently published an article about research conducted on blockchain technology. The research team has used blockchain to improve trust in electric vehicle (EV) charging systems. The research can expand the charging infrastructure for electric vehicles.
An EV charging service provider would look for property owners to collaborate with and install charging points. Later, owners of electric cars can use these charger points for a fee which will be shared between the supplier and the car owner.
Blockchain as an advantage
The research team established three steps to partner blockchain into the system to reduce the dependency on trust.
The first is to identify the involved parties and to note if there are any trust issues. The second step is to design a minimal blockchain solution to reduce trust-related issues. The last step is a gradual transformation from a blockchain to a truly decentralized business model.
Christian Gorenflo, Researcher and Ph.D. student said:
“Mitigating trust issues in EV charging could result in people who have charging stations and even those who just have an outdoor outlet being much more willing to team up with an EV charging service provider resulting in much better coverage of charging stations.”