BlockCharge is a working prototype for a seamless electricity vehicle charging system that uses blockchain technology. It aims to be a worldwide authentication, charging, and billing system that operates without the need for with no intermediary. As opposed to many other ideas revolving around blockchain, BlockCharge has a physical artifact, the “Smart Plug,” which can be used like a normal plug, but has an identification code linked to it. Owners of electric vehicles can use any electric charging point plug to charge their vehicles.
Users install an app on their smartphones to authorize the charging process. It connects to blockchain, which manages and records all of the charging data. The app automatically negotiates the best price and manages the payment process automatically. BlockCharge’s business model is based on the one-time purchase of a Smart Plug and a micro-transaction fee for the charging process. It’s a collaborative project between energy giant RWE (Carsten Stöcker) and innovative blockchain company Slock.it, led by former Ethereum CCO Stephen Tual.