New Technology is Connecting Electric Vehicles and Blockchain

Published on: October 29, 2021
Author: NAI500

What Is the Connection Between Electric Vehicles and Blockchain?

Demand for Electric Vehicles is on the rise. Despite supply chain issues, the number of EVs sold during the first half of 2021 has surged 161%, with global sales topping 2.6 million units.

This week, car rental giant Hertz made headlines when it announced that it had decided to add 100,000 Teslas to its fleet and is already in talks with other automakers to include more EVs in its future lineup.

But what does this mounting demand mean for existing EV charging infrastructure?

According to a recent article examining the impact of EV adaption on power distribution grids, increasing demand for limited power resources will lead to congestion of the power grid and situations where drivers may find themselves unable to access charging stations.

The paper suggests that the solution to this impending EV power crisis could be blockchain-based smart charging infrastructure.

To handle the simultaneous charging demands from many EVs, there needs to be a platform capable of managing requests without overwhelming grid capacity or leaving EV drivers out on a lurch. Blockchain-enabled charging technology can address these issues by sharing demand and duration information on the blockchain, ensuring charging optimization and stability of the power grid.

EV Battery Tech’s Blockchain Solution

Electric vehicle blockchain may sound like something from the future, but it’s already being done.

Extreme Vehicle Battery Technologies Corp. (CSE: ACDC) (OTCQB: CRYBF) is the driving force behind a patented AI-powered Battery Management System which has already made its way into EVs and EV charging stations.

And now, the company has announced the acquisition of CryptoPlug Technologies Inc., a blockchain developer working on a crypto-compatible charging network and payment app.

The CryptoPlug app will give drivers the ability to customize their EV power requirements based on the availability of the surrounding EV charging infrastructure. The app will also enable crypto payments, which the company believes will play well with consumers given the intensifying public interest in cryptocurrencies.

EV Battery Tech and its subsidiary IoniX Pro Battery Technologies Inc. intend to integrate CryptoPlug features into their existing Blockchain Power Management App, Smart Command. This plan will cut down development time and bring exciting new features to the Smart Command app.

Once completed, this new Smart Command app will bring power-sourcing optimization to all EV and ESS customers, regardless of whether they derive their energy from renewable sources or off the grid. The blockchain-based app will allow users to monitor charging sessions, track purchases, and even profit from selling excess power to the grid, while protecting customer information with blockchain-level security and encryption.

Connecting Blockchain to the Ionix Pro

In March, EV Battery Tech officially launched its revolutionary Ionix Pro Smart Charger Series with products targeting residential and commercial customers.

The company’s EV Smart Chargers are available as a single charging station, a commercial dual charger station, and a larger rapid charger expected to power an EV fully in less than 25 minutes. Battery sizes and charging speeds are variable, with smaller units intended for residential and recreational purposes and dual stations planned for commercial use in areas like parking garages and office buildings.

With the larger-sized rapid-charging models, EV Battery Tech will be looking to break into roadside EV charging infrastructure offering on-the-go users ultra-fast charging capabilities.

The Ionix Pro Smart Charger Series isn’t a typical EV charging station. The company has combined its Energy Storage System (ESS) and patented state-of-the-art Battery Management System (BMS) with an EV charger to market the revolutionary Smart Charger. What makes the series unique is the combination of AI-driven technology, renewable energy power sources, energy storage capabilities for peak shaving arbitrage, and now, the inclusion of blockchain technology which makes the Smart Charger and Smart Command app standouts among competitors.

The company is confident that its winning combination of EV charging infrastructure and cutting-edge technology will accelerate mass adaption and disrepute the entire EV charging industry.

About EV Battery Tech

Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.

Disclaimer: The company described in this article is a customer of NAI Interactive Ltd. This material is for informational purposes only and is not intended as a recommendation or offer or solicitation for the purchase or sale of any securities or financial instruments, or for transactions involving any financial instrument or trading strategy.

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