Why we need Blockchain Enabled Electric Vehicle Charging station.
Fossil fuel prices are soaring high everyday and it has drastically increased the air pollution in the air. Constantly upgrading the pollution standard like Euro VI and later is a very costly option. This is where an Electric car comes as an option. Recent bans on IC engines has boosted to confidence of Electric Car manufacturers. We have significantly seen and increase in EV market. But are we ready with the full fledged charging infrastructure to keep those EVs running on the road? The answer is big NO. Only Japan has surpassed number of conventional fuel station with EV charging stations.
Existing charging infrastructure has very low availability. Some of the EV owners complain that they cannot take their ultra-modern EVs on highway as the highways are not equipped with EV charging stations. Energ-zine aims to provide EV charging stations on all highways and along streets, or at any public parking facility– e.g. shopping malls, restaurants, hotels, hospitals etc. Access to all public charging stations will depend on the charge card is interoperable. If “interoperabili-ty” is activated, you’re empowered to charge at various charging station providers.
Current EV market is scattered across many players. None of the players have break-through product that can charge the car within time of five minutes. At the same time the EV charging equipment are far too expensive.
EV chargers are often having issue to comply with local power requirements which can be quite cumbersome.
Energzine has developed new technologies which are proposed for patent. Energzine wants to make avail those technologies to all EV Charging stations. Our technology will charge the EV within 1–3 Minutes to their full range.
Energzine has named this technology as BuMotion®. Furthermore Energzine will roll out wireless chargers with compliance of all newer model.
All this issues can be solved with the block chain technology. The nature of electricity adds complexity to the wholesale electricity market. This is because electricity, unlike other commodities, is impossible to trace the source of Sale generator and available to a particular customer.Further electricity is rarely stored (storage is very expensive and where it does occur tends to be in the form of hydro). In addition, there are very strict physical parameters, such as frequency and voltage that must be maintained when it is transported via the grid system. It requires second by second management across the system. The energy trading in most countries is highly regulated, technical, and capital intensive.
The global electric vehicle (EV) charging infra-structure market size was valued at USD 1.16 billion in 2016 and is presumed to gain traction over the forecast period. The growing demand for Electric Vehicles (EVs) is primarily responsible for the aggressive growth of EV charging infrastructure. The sales of electric vehicles have increased due to the increasing government support in the form of tax cred-Sale and lucrative subsidies and consumer awareness of the usage and Sale of these vehicles.
The passenger cars segment is anticipated to grow at the fastest rate, compared to the commercial vehicle segment. This can be attributed to the growing variety of EV models, equipped with the latest technology. Moreover, various research & development activities have been observed around improvements in EVs and up gradations of Electric Vehicle Supply Equipment (EVSE) to make them more convenient and easy to handle.
The installation large number of EV charging station and supply of electricity without clustering effect is only possible with Blockchain Technology. Blockchain will also bring transparency in the transactions of EV Charging.
