February 13, 2024 — PowerPod and peaq join forces to boost EV adoption by unlocking private charging networks. PowerPod is building a decentralized physical infrastructure network (DePIN) of community-owned EV charging stations. As part of the integration, the project will use peaq as the layer-1 backbone for its DePIN, using it to store charging session data, handle transactions, and reward the users with tokens for powering a more sustainable future of mobility.
About DePIN: (~Gemini, Google)
A decentralized physical infrastructure network (DePIN) is a type of network that builds, maintains, and operates physical infrastructure in an open and distributed manner, often using blockchain technology. This means instead of relying on centralized entities like corporations or governments, DePINs incentivize individuals to contribute their own resources to create and share infrastructure like:
- EV charging stations: This is the case with PowerPod, where individuals can share their home chargers with others.
- Data storage: Individuals can contribute unused storage space on their computers.
- Communication networks: People can share their internet bandwidth to create a broader, more accessible network.
- Cloud computing: Users can offer unused computing power from their devices.
Seen as an eco-friendlier version, EVs are growing more popular by the day. Deterring this growth is the lack of available infrastructure, especially chargers, with about one-third prospective EV buyers citing such concerns as the reason they didn’t go ahead with the purchase. The hundreds of thousands of private chargers set up by EV owners could be a massive boon to the industry. This could close a vital gap while empowering individuals to earn from their energy assets.
PowerPod is building a platform that will enable people to open up their EV chargers for fellow drivers to use. They can earn rewards for providing the charging service. PowerPod is working on a range of hardware devices, including a smart charger adapter, a charger, and a travel adapter. These will enable EV owners to charge their vehicles from regular sockets, in addition to its app facilitating these interactions. Moreover, these devices will make up a DePIN handling charging session data and enabling drivers to pay for the energy.
As part of its integration with peaq, PowerPod will outfit these devices with their multi-chain self-sovereign peaq IDs, enabling them to connect with the blockchain. It will also leverage peaq for data storage and eventually launch its token on the peaq mainnet, set to go live in the coming months. It will also use peaq to set up its rewards mechanism, granting users tokens for interacting with the DePIN.
“The DePIN model is perfect for unleashing the full capacity of the electric vehicle industry,” says Ting, Co-founder at PowerPod. “Through leveraging Web3, PowerPod empowers people globally to contribute to a more sustainable future. It also capitalizes on existing charging infrastructure. The DePIN-focused functionalities and economic framework offered by peaq will expedite our development and deployment significantly. We’re enthusiastic about our participation in this dynamic ecosystem.”
“The smart mobility industry has been displaying a lot of excitement about Web3,” says Till Wendler, co-founder of peaq. “It’s thrilling to see PowerPod use the DePIN model to close a vital gap for the electric vehicle market. Additionally, it gives individuals more ownership in its hardware backbone. We are certain that PowerPod will bring new value and opportunities for the entire ecosystem.”
