Modern Parking Business Using Blockchain and Internet of Things (IoT)

Abstract

This paper aims to deliver a sustaining business model by analyzing the market-trends of the bitcoin, develop a blockchain-based transaction system to run the errand and deploy an IoT-based, low-investment platform for ensuring profits in the long run. The existing monetary systems and investment platforms are discussed in detail and various inferences have been drawn from the trend of cryptocurrencies and world economy. An example of running a fully-automated, modern parking facility is used to demonstrate how this business would continue to grow as the demand-supply chain can be partially controlled. To the best of our knowledge from extensive literature survey, it can be a very promising investment for corporates and governments.