The Parking Industry is a multi-billion dollar Business, Still growing and with plenty potentials. It is presently estimated to be worth roughly $100 billion annually. However, the industry is obstructed with a lot of inefficiencies such as difficulty in linking drivers and parking areas across towns (in ways as effective as Uber does because of its drivers and customers) as well as inferior payment systems, others challenges include tax and regulatory compliance, issues of scaling and marketing to a larger reach, absence of consumer motivation, lack of parking spots etc.
Without any attempts to address these problems, it’s often a daunting business for parking place business owners. How about changing the entire landscape such that private owners of parking areas can generate income from their parking areas when they are not personally using it? It is possible that’s what Parkgene Ecosystem seek to achieve.Creating efficacy and making income from possessing parking spots available to all.
Simply place; Parkgene is your Airbnb of the Parking Industry. It will join people who own parking spots with drivers that need them, provide additional parking space to the market and undercut the high cost of parking, thus providing income for many parties involved. It is putting the parking sector on the blockchain, creating a decentralized ecosystem where contracts(smart) are implemented automatically in an efficient manner. Parkgene intends to make parking towns twice as easy and ten times as cheap.
How Does It Work?
Parkgene will employ the use its novel app (to be launched Immediately the conclusion of its initial coin offering) to join drivers that are in need of a parking spot with private owners of the parking garage. Once a motorist in need of a parking place reserves a place, a wise contract has been triggered off on the ethereum public blockchain.
The parkgene program then transfers the full amount of the parking fees from Gene token from the motorist’s pocket and placed in a temporary depository account pending when all of the trades are concluded. In occasion of insufficient funds from the motorist, other kinds of obligations such (as credit cards, bitcoins, ether) could be used. Successful reservation and payments offer drivers and park owners additional features needed for the conclusion of the parking session.
For instance, the driver will have the ability to open the garage door using his cell phone while the parking slot owner monitors the entrance and exit of the driver with a movie camera in his garage. At the conclusion of successful trade, the parties conclude that a wise contract on the ethereum with entrance and its confirmation on the blockchain.
The parking area owner receives, by the depository for their wallet 70–80 percent of contracts that are smart in Gene tokens once the driver checks out of their parking space. 10-20% goes to parkgene to cover for operational expenses, developments, cloud solutions and advertising. The remaining 5% is paid to the motorist and parking place proprietor as they perform specific tasks to enhance the ecosystem (for instance, ratings and testimonials).
Current Challenges of Similar Proposition and Why Parkgene is Different
There are a couple of small enterprise inside the parking Business who are trying to profer answers to the teeming issues from the industry. They are often confronted with issues like:
- Lack of safety and transparency-this usually arise because of Poor technological approaches and lack of a workable product to ease smooth transactions. Parkgene already has an Established product that is operational and has proved its robustness and security. Transparency is improved through the blockchain, smart contracts and through KYC procedures
- Regulatory and Tax Compliance-licenses are required most Times for e-money transactions and reception issuance (between motorists and garage owners)are needed for tax purposes. Parkgene will generally use its tokens-Gene tokens-to run its transactions. The exchange of tokens between people will typically not require regulations with fiat currencies. This provides parkgene the extra benefit of compliance with regulations. Gene tokens could be exchanged for money by holders since tokens will be openly traded on exchanges
- Poor Marketing– that often times is as a result of inferior Funding, thereby creating poor awareness. The achievement of Parkgene ICO will provide enough funding for a trully global market-reach and consciousness.
- Poor Scaling, consumer motivation, and engagement-this are usually As a consequence of lack of access to resources, effective team and communications. Parkgene already has a team staff that is skilled in business matters to drive the vision of parkgene. Parking needs, decentralized technology, the Gene token, fascination for innovation together with a potential over-performance of a token with respect to fiat money in addition to revenues received from services are components for a fast and worldwide growth.
Parkgenes will create additional revenues for People And businesses. Owners of parking places can get paid for renting their space out when they’re not utilizing it while also giving space for more earnings for operators of garages. Private owners will be able to provide parking spots without the need to leave their keys into a parking attendant.
Parkgene will remove the stress of drivers discovering Parking spots. A driver only should look into his app to locate the nearest parking spot.
Parkgene will make access to previously inaccessible Parking spots for use as it will integrate owners of parking spots in the ecosystem. It will reduce the need to construct more parking areas.
Parkgene provides more affordable and lively railroad model.
Parkgene will Decrease city traffic levels as personal
Parkgene is not new to the railroad sector, there’s already a brilliant staff who own and handle a thriving parking program called Parkguru. Parkguru already incorporates owners of parking garage companies and municipals to an on-street and off-street parking solution. Introducing Parkgene will produce an even larger ecosystem depending on the blockchain and its own advantages.Owners of private parking spots are totally incorporated in the parkgene ecosystem- decentralized peer to peer ecosystem. The parkgene business version is investor-friendly, ensuring returns on investment is Each transaction is compensated with the Gene tokens. Owners of Parking areas receive 80-85% while 10-20% goes to Parkgene.
Parkgene is currently offering its token- Gene tokens- to Investors, providing an early the chance to be part of its ecosystem.Details of this offer are thus below: https://tokensale.parkgene.io/?ref=02a9049f49bc8e8389be8925
Token sales begin 15th January 2018 and end 19th February
As trust and familiarity with sharing economy continue to Grow, which will businesses sharing the same model like Airbnb, Uber. Parkgene is including a movers’ advantage in getting its services well plotted on the ethereum blockchain that’s quite powerful in executing smart contracts. Parking is an important issue for everybody residing in the city and peer to peer parking is set to grow exponentially as did other sharing economies.
Additionally, autonomous automobiles that park without a driver will need Services which could lawfully secure and reserve parking spots. Tomorrow’s cars will Require book park and pay automatically while their owner like living and Working in the city. The future is here already.
For more information, please visit link below :
Official Site : https://parkgene.io/
Whitepaper : https://parkgene.io/wp-content/uploads/2018/01/Whitepaper_FINAL_V.18.1.pdf
Bitcointalk Thread : https://parkgene.io/btctalk
Twitter : https://twitter.com/PARKGENE1
Facebook : https://www.facebook.com/parkgene.token/
Linkedin : https://www.linkedin.com/company/11353798/
Telegram : https://t.me/parkgene
Medium : https://medium.com/@parkgene/