PARKGENE (ICO)

Peer-to-Peer Parking

“Airbnb like” Revolution on Blockchain

ABOUT PARKGENE

PARKGENE is a decentralized ecosystem where parking owners and drivers meet to conclude short-term or long-term parking rental contracts. PARKGENE, based on the Ethereum Blockchain combined with smart contracts, will eliminate the dependence on centralized systems between the transaction participants, and will significantly reduce the cost of parking for drivers, while offering an alternative source of income to parking owners. 

PARKGENE provides innovative approaches, openness, convenience and ease of use to enable the parking industry and its stakeholders to raise the quality of urban life to a whole new level. The ecosystem will be of interest to individual, professional or municipal parking owners, who are engaged in offering parking spaces, as well as to the drivers. PARKGENE will create the most comfortable and straightforward conditions for all platform users to achieve their goals. Furthermore, due to its decentralized nature, PARKGENE will offer all the tools to customize and streamline all operations according to specific needs and requirements. 

We believe that over time PARKGENE will offer a valuable solution not only in Western Europe and North American markets, but also in other markets around the world that face congestion and parking problems, providing a viable alternative that can help improve the entire parking industry. PARKGENE PTE Ltd is incorporated in Singapore and is wholly subsidiary of PARKGURU LTD (UK), a company that owns and operates an advanced omnichannel parking booking service (https://parkguru.com). 

Today, PARKGURU’s applications provide booking services and detailed information on millions of parking spaces located in Europe and North America. The introduction of PARKGENE will create an operational fork. PARKGURU will remain focused on providing on-street and off-street parking, sourced by municipalities and professional parking operators (garages), while PARKGENE will be a new product focused on efficient decentralized peer-to-peer parking for individually owned driveways and home garages.

VISION

PARKGENE is a convenient and secure way to find parking, connecting drivers, individuals and businesses. Our Vision is to disrupt the traditional – mainly off line – Parking industry, sized at $100 billion annually, and to provide drivers with a better parking experience, while helping cities become smarter and environmentally friendly. 

We aim to make parking in cities twice as easy and ten times as cheap. We will establish the GENE token as a payment method for the automotive industry, allowing drivers to pay for parking and integrating it with mobility services, vehicles and automotive infrastructure.

Parking Industry Overview

Industry Overview

In the present scenario, the world is facing critical issues of traffic cramming with a significant rise in the vehicle population and congestion in cities, and this has become an ongoing challenge for municipal councils and the traffic authorities to track and manage vehicular traffic. 

According to research by Frost & Sullivan[1], the worldwide parking industry is about $100 billion and is expected to attract institutional and strategic investments to the tune of $200-$250 million over the next 3–5 years, mostly to spur innovation and smarter parking. One big reason for this infusion of capital is to remove the inefficiencies in the ways that we currently park, per recent findings. 

A 2011 study by Cisco[3] revealed that just within the US alone, the total cost of personal transportation amounts to $3 trillion per year. Parking represented a staggering 12.5 percent of this total, or $374 billion. This includes not only the actual cost to park but also associated inefficiencies, such as the urban traffic created by people looking for parking. 

With numbers this large, it’s not surprising that automotive OEMs increasingly view parking as an important service that needs to be integrated within the vehicle’s telematics system to streamline efficiencies. In the coming years, P2P parking will generate new opportunities globally for myriad commercial parking lots, garages and residents to rent out their parking spaces with the aid of online marketplaces running over mobile and web platforms.

On-street & Off-street Parking Market 

Until recently, parking and innovation have mixed like water and oil. This is largely due to the slow-changing nature of the two-headed parking industry, which is comprised of both on-street and off-street parking. On-street parking represents about one-third of all parking-related revenue[1] in the US and is typically controlled by cities and municipalities. 

These organizations are not the fastest moving when it comes to initiating technical change, and while there has been progress within the realm of mobile payments at meters, truly scalable, innovative parking availability projects that help drivers find spots when they need them are few and far between. 

Off-street parking represents about two-thirds of all parking-related revenue in the US and is largely owned by private enterprise and therefore, theoretically, should be faster moving when it comes to innovation. But even this segment of parking has been slow to change, mostly because its fragmented nature. 

Despite the theoretical supply of parking spots sourced by Municipalities and Private Parking Operators, drivers globally spend an average of nearly 20 minutes per trip in pursuit of a parking space according to a 2011 IBM survey.

This is a colossal waste of time and the concept of pre-booking parking prior to arriving at a destination is still nascent. Most people continue to drive around searching for a spot, either on-street or off-street, typically unaware of what parking inventory is available to them.

Peer-to-Peer (P2P) Parking Market 

Parking in private garages and driveways is a massive market by itself. According to a research published by CNT (Center for Neighborhood Technology (CNT))[5] there is a huge supply of parking spaces totaling 61% of the number of residential units in Chicago, when only half of them are occupied during night. According a study contacted by PARKGENE, based on housing and driving data published by the US Census Bureau, Eurostat and indexmundi.com, we estimate that the 100 biggest and busiest cities in the US and Europe generate a market of 20 million usable parking spaces and a potential revenue of 60 Billion USD. 

It is obvious that P2P Market is massive and its efficient utilization could result in tremendous benefits for the cities, drivers, parking space owners and the economy overall. Over the past two years, several innovative startups (JustPark, ParkEasier, CitiFYD), mainly in the US and Europe, have launched services and apps focusing on P2P Parking offerings. The P2P concept is simple. 

Individuals buy and sell goods and services from one another. In doing so, they circumvent traditional businesses, including parking operators. Nevertheless, all these apps are still facing scaling issues and most of them are counting a few thousand users, as their operational geographies are limited and global marketing is a big issue. Transparency, payment, security, high credit card processing fees, regulatory and tax issues are some of the major barriers for all these startups to scale, to become national or international champions.

The Problem

Parking imposes a significant burden on drivers and the wider economy. One in three drivers abandoned their search for a parking space[6] at least once in the past year in pursuit of a coveted spot. The factors that predispose a city to congestion are the same as those that cause parking pain: large and growing populations, vibrant economies, relatively cheap motoring, and dense urban environments with limited land space.

The parking problem is compounded due to the lack of information; many drivers simply don’t know where space is available, increasing driver frustration and wasting time. Just like congestion, parking pain is costly. For the individual driver, the search for parking results in wasted time and fuel, and incorrectly parking or running out of time can result in a parking fine. In the city, the search for parking clogs intersections and city streets, increasing traffic congestion. 

The search for parking also worsens air quality, as vehicles emit greenhouse gases into the environment. Generally, off-street parking rates reflect local market conditions and central locations in major cities of commercial, political or cultural significance. Similarly, local political and policy considerations generally dictate on-street parking rates with many cities favoring relatively high on-street fees to encourage high turnover and to support local business activity. 

In short, parking pain extends far beyond the driver’s seat. The economic cost of parking pain is quantified and monetized in terms of: searching for parking, which results in wasted time, fuel and emissions, overpaying for parking, and parking fines. Several non-economic costs are also quantified, such as avoiding trips due to problems finding parking as well as increased frustration and stress. 

Standard parking charges are a cost of driving like fuel and maintenance, but parking pain imposes an unnecessary economic burden in much the same way as traffic congestion does. According to a recent market research, conducted by INRIX Inc[6], the parking pain costs (time lost in search for parking, parking fines, fuel consumption etc) for drivers in the U.S. $95.7 billion a year, drivers in the U.K. £31.2 billion and drivers in Germany €45.2 billion. To reduce these costs, technology providers, automakers, cities and businesses are relying more on providing drivers with real-time parking availability to ease parking pain. But as cities grow bigger and busier, while real estate value is rocketing, parking spots in the city are becoming more and more difficult to find.

More Detail Information Please Read Our Whitepaper

Drivers looking for a parking spot connect with parking owners through the PARKGENE app.

Once a driver reserves a parking spot, the reservation triggers the PARKGENE smart contract on the Ethereum Public Blockchain.

The PARKGENE App transfers the full parking fee amount, in GENEs, from the driver’s wallet, to a depository (a temporary wallet). In the event that the driver doesn’t have enough GENEs, he can use his credit card or other means of payment (bitcoins, ethers) to buy GENEs in real-time and pay for the transaction.

Successful reservation and payment offers drivers and parking owners additional features needed for the completion of the parking session:

For example, the driver will have the ability to open the garage door using his mobile phone, while the parking owner is notified and can monitor – the video of the vehicle entry and departure. This optional functionality is possible using remote access tools, currently available in the market, integrated on the PARKGENE platform, or through a low-cost PARKGENE device.

At the end of a successful transaction, parties conclude a smart contract on Ethereum, with the entry and its confirmation on the blockchain.
The parking space owner receives 75% of smart contract in GENE tokens, , from the depository to their wallet, when drivers check out of the parking space.

The remaining 25% is distributed as follows:
5% of the total amount is paid to the driver and parking space owner as they perform several actions that enhance the ecosystem (e.g. Ratings, Reviews).
20% of the total amount is paid to PARKGENE to cover operational, development, cloud services and advertising costs.

At any time, the users of the platform can buy or sell GENE tokens for FIAT currency (USD, EUR, JPY, CNY, etc.) or other cryptocurrencies (BTC, ETH, etc) by using several cryptocurrency exchange services that trade the GENE token.

GENE is available in a limited edition of 1,000,000,000 GENE Tokens.

We expect that the increase of users and number of smart contracts will increase the demand for GENEs among drivers, resulting in a token that other service providers (i.e. Tolls, Car Wash, Car Insurance, Tow Service providers etc.) will accept as payment for their services.

Token Sale

To execute on PARKGENE’s vision, we are launching a Token Sale to issue GENE tokens on the public Ethereum blockchain. The tokens called GENE Tokens will be offered during the PRE-ICO Closed Round and the ICO public sale.
On December 15, 2017, PARKGENE will launch its PRE-ICO Closed Round to distribute up to 2% of the token supply (the hard cap during the PRE-ICO Closed Round Token Sale will be 20 million GENE Tokens). To participate in the PRE-ICO Closed Round Token Sale you need to qualify and receive an invitation. [The PRE-ICO Closed Round is SOLD-OUT]

The Public ICO will commence on January 15, 2018, 10:00 am GMT, to distribute up to 35% of the token supply.

Any unsold GENE Tokens at the ICO phase will be burned

The ICO will be conducted at PARKGENE’s Token Sale Platform. To be able to participate in the PARKGENE’s ICO and get GENE Tokens, you should register for a free account. GENE Tokens will be issued as ERC20 compliant tokens for Ethereum blockchain so you will need an ERC20 compatible – Ethereum wallet to receive them.

You will be able to pay in Ethers, Bitcoins, Bitcoin Cash, Dash. Litecoin and USD via wire transfer

GENE Tokens will be issued on the Ethereum Blockchain at the end of the Token Sale and distributed to the contributors. We expect that GENE will be traded in Cryptocurrency Exchanges shortly after their issuance.

GENE Token Price: 0.1 USD

GENE Token: ERC-20 – 0x6dd4e4aad29a40edd6a409b9c1625186c9855b4d

Bonus depends on the contribution amount

Participation: Open to all

Minimum Participation: No minimum

ICORATING Audit: STABLE – Risk: LOW – Hype: HIGH

ICO Start date: 15 Jan 2018, 10:00 AM (GMT)

ICO End date: 19 Mar 2018, 10:00 AM (GMT)

or until hardcap of 350,000,000 tokens sold

PRE-ICO: Sold Out at 20M Tokens.

USD Payments accepted: PayPal, Credit, Wire Transfer

Crypto Payments accepted: ETH, BTC, BCH, DASH, LTC

Funds held in Escrow until the end of the ICO

Secure Offer

All ICO funds are held in Escrow
Multi Signature Wallets
Unsold ICO Tokens will be burned
GENE Tokens are issued only for investors
GENE Tokens are transferred to investors right after the ICO
GENE Tokens of Founders, development team and key personnel are locked in for 6 months.
Bounty, Advisors and Team GENE Tokens will be distributed at the end of the ICO
Any Bounty unallocated Tokens will be transferred to the “PARKGENE Charity Fund”

Rated by ICORATING

“GENE tokens have long term growth potential, provided the quality of the service is high and there is a continuous increase in demand. Purchase of the tokens during the ICO is a good opportunity for potential users of the service.” 

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Elementh (ICO)

" Elementh is a blockchain designed for the e-commerce sector. 

It represents a register of "ownership of goods", which has the ability 

to write specialized smart contracts and use the nomenclature standard to quickly 

create various decentralized and centralized applications."

About Elementh

Elementh's goal is to create an alternative protocol for the development of decentralized applications used by e-commerce, providing a standard quality nomenclature, guaranteeing ownership of a particular product and the ability to create specialized smart contracts for e-commerce. Elementh will achieve this by creating a blockchain with a built-in Turing-complete programming language, allowing everyone to write smart contracts and decentralized applications, enabling the use of unified product cards, e-commerce transactions and the transfer of ownership.

System of Goods

Along with the system of tokens, Elementh has a system of goods, which can also be used in a large number of applications, such as tracking the movement of a particular item from its creation to the current owner, tracking original goods and detecting counterfeit goods. Unlike the system of tokens, the system of goods also provides for the ability to "issue" a particular product at a particular address, indicating all possible item's data (such as name, manufacturer, bar code, etc.). And if identical goods are already present in the blockchain, the issuer will receive a message about it, and he will have the opportunity to indicate how many items of goods he wants to "issue".

If an item has a serial number, it is possible to specify it when the transfer operation is being performed. To provide protection against data forging, only the hash of the serial number is fixed in the system, therefore only the person who knows the initial number has the ability to make a valid transaction. In the absence of a serial number at the moment of "issuing" goods, the system generates it randomly and the holder is able to use it to identify a particular item of goods by printing out the QR code on the package, writing it in an RFID tag or in any other convenient way.

Unified Nomenclature of Goods

One of the key features of Elementh is the availability of a unified nomenclature. To ensure that the merchandise cards are as complete and accurate as possible, and to reduce the likelihood of creating duplicate cards, the cost of creating and using the card will be different. To create a merchandise card a participant will have to pay, for example, 1 EEE (the price will be set by voting of delegates). 

At the moment when the owner adds the item to the system, he is offered to use an existing card or create a new one. The use of an existing card costs 100 times less than the creation of a new one (for example, 0,01 EEE). The cardholder receives a reward for each owner of goods that uses his card, as well as for making a transaction using this card. Any participant in the system can supplement information in existing cards, and the cardholder can accept or reject the proposed changes.

The originality of Goods

Goods in the system exist in a single copy and if an item with the same serial number is added to the system, any dApp can notify the buyer that the origin of the goods is unknown. If the chain of ownership comes from the manufacturer, the confirmation of the originality of the goods will be throughout the entire network.

Accounts

Account is one of the basic objects in Elementh, it is used as identity of participants of the network. Each account has:

• account balance of the internal currency EEE;
• information about ownership of goods.

All transactions in the blockchain is made by accounts.

Transactions and messages

Any action in the Elementh blockchain is called transaction. The most simple transactions is a transfer of EEE tokens between accounts and a define ownership for goods. Transaction can include structured message for receiver. Accounts may define scripts to handle messages when they are received. The combination of messages and automated scripts is a smart contract subsystem in Elementh.

Blockchain

Transactions in the chain of blocks must be safe, unambiguous and irreversible, and be carried out as quickly as possible to facilitate the reliability and decentralization of the system. In practice, the difficulties arise in two different aspects of this process: selecting a unique node for the production of the block and making the record irreversible.

DPOS Protocol

According to the concept of decentralized autonomous DAC companies, decentralization means that each shareholder has an influence proportional to the number of his shares and that the decision taken by voting of 51% of shareholders is irreversible and mandatory. The challenge is how to achieve 51% of the approving threshold in a timely and efficient manner.

To achieve this goal, each shareholder can delegate his right to vote to a delegate. 100 delegate with the largest number of votes delegated generate blocks according to a certain schedule. Each delegate is allocated a time frame for the production of the block. If he does not produce a block, then their turn is skipped, and the next delegate produces a block according to the list. All delegates receive a payment equal to 10% of the average size of the transaction commission. If the middle block contains a fee of 100 shares, the delegate will receive 1 share as payment.

It is possible that a delay in the network can lead to the fact that some delegates will not be able to generate their block in a timely manner, and this will lead to a split of the chain of blocks. However, in practice this is unlikely to happen, because a delegate can establish direct connections with other delegates preceding and following him in the chain. With this model, new blocks can be generated every 10-30 seconds and under normal network conditions, the splits of the chain of blocks are unlikely or can be corrected within a few minutes.

Reward for the Block

The blockchain that will use the Elementh software will be awarded with new tokens of the block manufacturer every time the unit is created. The Elementh software can be configured in such a way as to ensure that payment of the block manufacturers is restricted so that the total annual increase in the number of tokens does not exceed 5%.

The System of Tokens

The system of tokens can be used in a huge number of applications. The system of tokens is easy to implement in the Elementh blockchain. In order to better understand what a token system is, you can imagine a database with only one operation: take X units from A and transfer them to B, under the following conditions, 1) A has at least X units before the transaction is made and 2) the transaction is confirmed by A. What is necessary to implement this system is the implementation of a smart contract with the above logic.

Decentralized Goods Data Storage

To store goods data, such as specifications, photos, EAN codes, serial numbers, and others, Elementh uses the IPFS protocol. IPFS (the InterPlanetary File System) is a content-addressable, peer-to-peer, hypermedia communication protocol. IPFS allows you to create fully distributed applications. It is aimed at making the World Wide Web faster, safer, and more open.

IPFS is a peer-to-peer distributed file system that connects all computing devices to a single file system. In a sense IPFS is similar to the World Wide Web. IPFS can be represented as a single bittorrent-swarm, which exchanges files of a single Git-repository IPFS is becoming a new important subsystem of the World Wide Web. Constructed correctly, it is able to complement or completely replace HTTP. It can also supplement or replace other systems.

Case Study

Jack, the owner of a small store, was told about the Elementh blockchain and the opportunities it provides. Jack had not sold anything on the Internet before. Having learned about the new possibilities, he decided that it was time to try selling their shoes via the Elementh blockchain, using special applications for sellers. Setting up a store turned out to be quite simple and took several minutes.

Having connected his accounting program to the application, Jack managed to recognize stock balance and bind it to a single nomenclature with fine merchandise cards and complete data of the product features. Information about Jack's goods immediately became available to all members of the Elementh network. Steve saw the store with the boots he needed, immediately made the order, and Jack received a notification that Steve wanted to buy his shoes. Customer's money is immediately transferred to a smart contract, which means that the order is real. Having arranged the delivery of the goods to Steve, Jack began his usual work in the store. As soon as the goods were delivered, the money transferred to Jack's account, which means that he didn't have to wait for a long time and immediately invest the profit in a new product.

One day Jack decided to expand the product range and to sell branded bags, along with footwear. Without hesitation, he opened the b2b application for finding suppliers and manufacturers working in the Elementh blockchain and found the bag manufacturer LOUIS VUITTON. He placed the order, transferring crypto currency to the smart contract. The supplier, having received information about Jack's order, immediately formed a dispatch and transferred data on serial numbers to the smart contract. Now that the transaction is underway, everyone will be able to verify that Jack has authentic LOUIS VUITTON bags in his store and not a fake. This is because in the Elementh network each manufacturer can track the movement of goods and if several owners of the same serial number of one product appear, it means counterfeit and its origin is very easy to track and take necessary measures to notify customers about its existence.

Steve has long been using applications for finding the lowest price for the product he needs. Today he decided that it was time to order new shoes and just in a few minutes he found the couple he needed in Jack's store and placed the order, sending money to the smart contract. Steve has not been afraid to make purchases online and send money to unknown sellers for a long time. 

If Steve does not receive the goods, he will simply indicate it in a smart contract and the money will return to him. This time his order was processed almost instantly and the courier arrived an hour later. Making sure that the shoes are of the right quality Steve completed the smart contract and the money went to Jack while Steve became the owner of a new pair of shoes. He can easily sell this pair of shoes in the secondary market as soon as he gets bored with them because Elementh network knows that he has authentic items not counterfeit ones. Just in two clicks he will be able to put them up for sale.

Applications

In general, there are two types of applications built on top of Elementh. The first category is financial applications that provide users with great opportunities to manage and participate in contracts using cash, including buying and selling products and content online and offline, as well as tokens built on the Elementh software. The second category is non-financial applications, such as identifying fake / counterfeit goods in the supply chain, etc. 

Decentralized marketplaces based on Elementh. Based on Elementh's blockchain any marketplace will be able to allow sellers to use existing merchandise cards without creating new ones. Data on the ownership of the product will allow you to get rid of counterfeit products sold through the marketplace. Unified merchandise cards will allow you to easily find the lowest price for any products. At the same time, it becomes possible to pay using any crypto currency. 
Tracking the movement of goods. The complete producer - distributor - seller - buyer chain, stored in the Elementh blockchain, will allow to find suppliers for any volume of products, up to direct order of goods from the manufacturer. We see it as the future of e-commerce. 
Search for goods by geolocation. Seller information available in the Elementh blockchain allows you to find the most convenient places of purchase for any item. 
Decentralized sending of messages. The ability to send messages allows you to contact directly with any participant in the transaction. This will allow setting up exchange systems, bidding, obtaining individual purchase conditions and so on. 
Store designer. Having all the necessary data to set up a store, the system allows you to create individual decentralized showcases for any vendor in the system. 
Fakes search. Data on all participants of the chain will allow to track the appearance of counterfeit products at any stage of the transfer of ownership of goods. 
Banking scoring. Access to data on all transactions of any participant of the system will allow instantaneous scoring of the seller, which makes it possible to build credit and overdraft systems by the banking institutions. 
Different verticals. Elementh blockchain can be used by any service provider, for example, hotels or airlines with ticket, coupon or voucher entity to store information and track ownership.

Currency and Issue

Elementh blockchain has its own built-in currency, elementh (EEE), which is used for all operations inside the Elementh blockchain, for example, payment of transaction fees.

Token and ICO information: EEE, ERC-20 standard
Total supply: 303 000 000 EEE
Token distribution:
217 500 000 (71,78%) EEE - purchasers
45 000 000 (14,85%) EEE - team
40 500 000 (13,37%) EEE - partners and advisors

Private Pre-Sale start date: 15 January 2018 00:00 UTC
Private Pre-Sale end date: 31 January 2018 23:59 UTC
Private Pre-Sale soft cap: -
Private Pre-Sale hard cap: 1 500 ETH
Private Pre-Sale price: 1 EEE = 0.0001 ETH
Private Pre-Sale bonuses scheme: 50% Tokens

Pre-ICO start date: 1 February 2018 00:00 UTC
Pre-ICO end date: 14 February 2018 23:59 UTC
Pre-ICO soft cap: -
Pre-ICO hard cap: 1 500 ETH minus received in Private Pre-Sale stage
Pre-ICO price: 1 EEE = 0.0001 ETH
Pre-ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens

ICO start date: 1 April 2018 00:00 UTC
ICO end date: 30 April 2018 23:59 UTC
ICO soft cap: 10 000 ETH
ICO hard cap: 30 000 ETH
ICO price: 1 EEE = 0.0002 ETH
ICO bonus scheme: 1st day: 30% Tokens, 2nd day: 15% Tokens

For Further Information About Detail ICO and Project Please Read Our Whitepaper

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