Artificial intelligence specialist Fetch.ai and blockchain provider Datarella announced the launch of smart city infrastructure trials in Munich on November 12.

The experiment will center around the city’s Connex Buildings business center and will use a blockchain-based multi-agent AI platform to more efficiently manage parking spaces in the building. This is done in order to reduce the use of cars and thus reduce carbon dioxide emissions.

Independent financial agents will agree on the “price” of parking spaces between operators and users. Users will be rewarded for choosing less well-known parking spaces or no parking at all.

The rewards will be presented in the form of a free Fetch.ai FET code giveaway to registered parking users for every minute their vehicle is not in the parking lot. The number of tokens allocated per minute will depend on the amount of parking space.

While this is only a small experiment, the concept could become important if it can be shown as “nudging” people towards more sustainable action.

For example, if a scheme can reduce car use by 10%, it could reduce CO emissions by 34,000 tonnes per year when scaled across a city.

Humayun Sheikh, CEO of Fetch.ai, told Cointelegraph that this is only the first of several field trials being conducted in a number of industry sectors, especially in the hospitality and mobility industry:

In fact, our main task is to ensure that multi-agent systems operating in a decentralized network allow coordinating complex tasks between several stakeholders in a way that was not possible before.
As reported by Cointelegraph, Fetch.ai recently launched a decentralized derivatives exchange allowing users to access both cryptocurrencies and commodities such as gold, silver and oil.

Source: CoinTelegraph

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