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Advanced Blockchain AG: Portfolio company peaq becomes first blockchain company to join Automotive Industry Association

DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Expansion Advanced Blockchain AG: Portfolio company peaq becomes first blockchain company to join Automotive Industry Association 06.05.2021 / 10:37 The issuer is solely responsible for the content of this announcement. Since April 2021, peaq Technology GmbH, a portfolio company of Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a member of the Automotive Industry Association. peaq's core concern is to contribute to the success of e-mobility in Germany as part of the association. peaq strives for an open and manufacturer-independent ecosystem to optimize the charging and payment process for e-cars.

 

The Berlin-based company peaq, founded in 2017, is the first blockchain software development company to become a member of the Automotive Industry Association (VDA). The core objective of peaq is to support the VDA in its goals of making mobility even safer, more efficient, more comfortable, and more environmentally and climate friendly, and to make a significant contribution to the future of mobility. The young company is convinced that these goals can only be achieved through the involvement and cooperation of stakeholders from business, politics and society rather than by means of proprietary solutions. In this context, the Berlin-based company wants to contribute to the digital transformation of the German automotive industry as part of its membership. 

 

One focus of peaq is the question of how Distributed Ledger Technology (DLT) can best be used in mobility. The team of peaq CEO Till Wendler contributes its know-how from over four years of developing decentralized infrastructures. A platform infrastructure on which companies can build and connect their products, technologies and markets in a secure and trustworthy way.

 

"We are very proud to be the first blockchain software development company to work on the future of mobility as part of the leading association of German car manufacturers," says Till Wendler, CEO at peaq. "Currently, there are too many hurdles that slow down e-mobility and unsettle consumers. In particular, the charging and payment process is still fragmented, complicated and non-transparent.  We firmly believe that this challenge can be solved via an open and manufacturer-independent ecosystem. Here, we would like to work closely with the manufacturers in the automotive industry as well as with the relevant players from politics and society."