IRVINE, Calif., Nov. 2, 2017 /PRNewswire/ -- NetObjex Inc, an Irvine, CA based IoT-BlockChain platform company, in partnership with the International Transportation Innovation Center (ITIC), recently unveiled a proof of concept solution for dynamic electric vehicle wireless charging using the IOTA decentralized network and cryptocurrency.

NetObjex participated in ITIC organized workshop events in Florida and California to demonstrate and discuss how the future of electric vehicle charging could be shaped through the use of decentralized networks.

Dynamic EV Charging Prototype NetObjex Presentation at ITIC

The Proof of Concept solution involved the modeling of two Digital Assets – a car and the electric grid utilizing the NetObjex platform leveraging its Digital Twin concept that creates a digital rendition of a physical entity. The platform provides for decentralized universally unique identification of objects thereby enabling device Discovery, Authentication, Communication and Transactions. The solution demonstrated how a car could drive on a lane dedicated for wireless EV charging while in motion, and provide for usage based billing. For this, the NetObjex platform integrated the IOTA decentralized network and used the transaction fee-less MIOTA cryptocurrency.

"The transportation ecosystem is going through massive disruption through the introduction of connected, automated and semi-automated vehicles, as well as electric vehicles," states Dr. Joachim Taiber, Chief Technology Officer for ITIC. "At ITIC, we are interested in bringing together ecosystem partners such as automotive OEMs, electric grid operators, software and other technology companies, and local, state and federal agencies in developing concepts that will address the transportation needs of tomorrow."

"This proof of concept highlights key issues such as inter-device communication across trust boundaries, and how that can be overcome through the use of decentralized networks. It also enabled us to explore last-mile communication options between devices, and how micropayments can be handled," said Raghu Bala, CEO of NetObjex.

The solution highlighted the complex interplay between multiple entities in the future of transportation and traffic management, and also provided key insights into how various dots need to be connected across this vast landscape to bring about solutions.

About NetObjex

NetObjex is an innovative IoT-Blockchain application enablement platform provider for managing digital assets with applications in Transportation, Manufacturing/Industry 4.0, Supply Chain and Logistics, and Smart City ecosystems.

About ITIC

The International Transportation Innovation Center (ITIC) is building a global network of open and closed automotive testbeds for the most advanced innovations in connected, automated and sustainable mobility. It offers automotive OEM's, suppliers, infrastructure service providers, research organizations and startups a multitude of services for developing and testing solutions for transportation megatrends such as vehicle automation, connectivity and electrification in an ecosystem that is safe, secure and confidential. More information is available at www.itic-sc.com.

Media Contact:

Raghu Bala

(855) 928-2283

[email protected]

SOURCE NetObjex