Imagine always being certain you would find a parking spot. Now, this is possible- by harnessing the blockchain and tokenizing temporary parking space. PARKGENE aims to be the Airbnb for temporary parking spaces.
Why not use your smartphone to locate and secure a parking spot beforehand? Choose the cheapest, most convenient parking spot at your destination, and don't play guesses. The $100 billion parking industry is what PARKGENE aims at, creating a market for parking spot owners and buyers.
"We believe that there is immense untapped potential in the parking industry," says Nikolas Skarlatos, CFO of PARKGENE.
"Most of today's parking services involve the purchase of a long-term parking space, leaving drivers who only need short-term parking with limited alternatives. Using blockchain technology and smart contracts, our app allows parking owners to rent out their parking space on a short-term basis, effectively filling this niche and providing drivers with a better parking experience."
Reserving parking spaces relies on a proprietary smart contract that links a crypto wallet to the Ethereum network, secures the parking spot and pays for it.
Parking owners will receive a minimum of 80% of the smart contract proceeds in GENE tokens from the depository when the driver checks out of the parking space. 15% of the contract covers PARKGENE's expenses, and 5% is paid to the parking owner and driver if they support the ecosystem through reviews and ratings. Users of the platform will also be able to convert GENE tokens into fiat currency or other cryptocurrencies at any time.
The GENE Token
The GENE token was designed to pay for parking. Drivers will transfer the GENE token to pay parking spot owners. Token holders will be able to use GENE Tokens to pay for services and products of PARKGENE (P2P Parking), PARKGURU (Professional Garages and Municipal Parking) as well as any other service that will be integrated with the PARKGENE platform or GENE Token. GENE tokens have no expiration date, and it is up to the buyer to use it for park booking accommodation on PARKGENE website or app, or to sell it if he wishes to someone else.
PARKGENE has chosen ICOBox for its ICO management, to oversee the resources required to implement its worldwide marketing campaign.
The token sale will run from January 15th to February 19th, and will be conducted on a first-come, first-serve basis. ICO backers will be offered 350 million tokens, as well as an incentive program including the issue of bonus tokens at a diminishing rate for early-bird purchases. PARKGENE ICO will also offer bonuses for bulk purchases of GENE tokens.