DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Expansion
Advanced Blockchain AG: Portfolio company peaq becomes first blockchain company to join Automotive Industry Association
2021-05-06 / 10:37
The issuer is solely responsible for the content of this announcement.
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Since April 2021, peaq Technology GmbH, a portfolio company of Advanced Blockchain AG (Frankfurt, Primary Market
Düsseldorf, XETRA: ISIN DE000A0M93V6) is a member of the Automotive Industry Association. peaq's core concern is to
contribute to the success of e-mobility in Germany as part of the association. peaq strives for an open and
manufacturer-independent ecosystem to optimize the charging and payment process for e-cars.
The Berlin-based company peaq, founded in 2017, is the first blockchain software development company to become a member
of the Automotive Industry Association (VDA). The core objective of peaq is to support the VDA in its goals of making
mobility even safer, more efficient, more comfortable, and more environmentally and climate friendly, and to make a
significant contribution to the future of mobility. The young company is convinced that these goals can only be
achieved through the involvement and cooperation of stakeholders from business, politics and society rather than by
means of proprietary solutions. In this context, the Berlin-based company wants to contribute to the digital
transformation of the German automotive industry as part of its membership.
One focus of peaq is the question of how Distributed Ledger Technology (DLT) can best be used in mobility. The team of
peaq CEO Till Wendler contributes its know-how from over four years of developing decentralized infrastructures. A
platform infrastructure on which companies can build and connect their products, technologies and markets in a secure
and trustworthy way.
"We are very proud to be the first blockchain software development company to work on the future of mobility as part of
the leading association of German car manufacturers," says Till Wendler, CEO at peaq. "Currently, there are too many
hurdles that slow down e-mobility and unsettle consumers. In particular, the charging and payment process is still
fragmented, complicated and non-transparent. We firmly believe that this challenge can be solved via an open and
manufacturer-independent ecosystem. Here, we would like to work closely with the manufacturers in the automotive
industry as well as with the relevant players from politics and society."
peaq has been working with a major German automotive group for 3 years on a decentralized platform for electromobility
that simplifies charging & payment processes for e-cars many times over and is an extension of the existing Plug&Charge
standard. After registration on the decentralized platform, each car and each charging station receives its own
sovereign identity, which exists on peaq's Distributed Ledger Technology (DLT). Based on the sovereign identity, the
electric car can authenticate itself at the charging pole. If this is successful, the charging process can begin.
During the charging process, the energy that flows is precisely controlled - the charging station then bills
accurately. In the future, payment at the charging station can thus take place peer-to-peer - in other words, as an
uncomplicated, fast and, above all, secure process. With the use of the new technology and the resulting decentralized
infrastructure, the previous problems can be solved, and a charging network established that meets the needs of the
market and society. This will require a change in thinking: Instead of proprietary solutions, which have dominated up
to now, cooperative ventures, also across manufacturers, are imperative.
Further information about Advanced Blockchain AG and peaq can be found at their respective websites, https://
www.advancedblockchain.com/ and https://www.peaq.io/.
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2021-05-06 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Advanced Blockchain AG
Scharnhorststraße 24
10115 Berlin
Germany
Phone: +4930403669510
Fax: 030403669511
E-mail: info@advancedblockchain.com
Internet: www.advancedblockchain.com
ISIN: DE000A0M93V6
WKN: A0M93V
Listed: Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart, Tradegate
Exchange
EQS News ID: 1193434
End of News DGAP News Service
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1193434 2021-05-06
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(END) Dow Jones Newswires
May 06, 2021 04:38 ET (08:38 GMT)