Parking tends to be an issue with most medium and large-sized cities. With real estate being finite, the developers tend to build revenue-generating structures (e.g. apartment or office buildings, or malls). These generally generate much more revenue than a simple parking lot. The owner-occupied properties tend to minimize the parking area, as it removes potential office space for their workers. With these limitations, it is easy to understand how parking has become an issue. Computer systems are able to make our lives easier, and this is no different. To resolve this issue, two companies in different fields came together. Fetch.ai and Datarella, in AI and blockchains, were the partners. Their project, being tested in Munich, used AI to optimize parking. This ties nicely into the smart city concept. the program helps to move vehicles to the optimal spots, removing the waste of time and resources (e.g. gas). This also has the extra benefit to the other drivers of removing cars driving when they wouldn't need to, easing congestion. Blockchain comes into play as this is a decentralized network. The decentralized network works to split complex tasks within the network. This is only the first step. The companies are planning other projects to continue the application.
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