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Artificial intelligence specialist Fetch.ai and blockchain solution provider Datarella announced the launch of a trial of the ‘Smart City’ infrastructure in Munich on November 12th.
The trial will focus on the Connex Buildings business center in the city and will use a blockchain-based multi-agent AI platform to optimize the management of parking spaces in the building. This is designed to encourage reduced car use and, therefore, reduced CO2 emissions.
Autonomous economic agents will negotiate the “price” of parking spaces between operators and users. Users will be rewarded for choosing less frequented car parks or not using the car park at all.
Rewards will come in the form of a Fetch.ai FET token airdrop to registered parking users for every minute their vehicle is not in the parking lot. The number of tokens allocated per minute will depend on the amount of space available in the car park.
While this is only a small-scale trial, if the concept can be shown to effectively “push” people towards more sustainable actions, the implications could be large.
For example, if the scheme can reduce car use by 10%, then it could see a reduction in CO2 emissions of 34,000 tons per year if expanded across the city.
Fetch.ai CEO Humayun Sheikh told Cointelegraph that this is just the first of several field trials that will be performed across a number of industry verticals, particularly in the hospitality and mobility sectors:
“In essence, our main thesis is that multi-agent systems running on a decentralized network allow for the coordination of complex activities between multiple stakeholders in a way that was previously not possible.”
As Cointelegraph reported, Fetch.ai recently launched a decentralized derivatives exchange, allowing users to gain exposure to both cryptocurrencies and commodities like gold, silver and oil.
