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Mary Andree
Mary Andree

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Paying for parking with Digital Tenge in Kazakhstan

The National Bank of Kazakhstan is implementing a pilot project to introduce their own central bank digital currency(CBDC), called the digital currency Digital Tenge (DT). As part of this program, a number of studies have been conducted, including the use of DT in the payment and settlement infrastructure. One of the most promising projects was the development of a car parking payment system using IoT and the Digital Tenge. In order to implement the project, the National Bank selected ilink, a software development company that specializes in digital technologies.

Currently, there are two ways to pay for parking: cash and cashless. In both cases, an intermediary is required between the parking user and the service company, and it is not possible to conduct a full analysis of the data on the use of parking spaces. The use of IoT and digital token technologies improves the interaction between customers and parking lot owners, while also and offerings certain advantages. By eliminating the intermediary, the price of parking is reduced, and the analysis of public data on vacant spaces helps spacesvacancies helps to track availability in advance and set up actions to be automatically triggered when certain conditions are met, such as giving the user a discount on parking in a certain area.set up automatic fulfillment of certain conditions of payment (for example, discounts).

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