Black Ink Tech for
Streamline parking management for drivers, parking lot owners, and managers with revolutionary, patented blockchain technology.
As urbanization continues, parking management is a rapidly growing industry. Currently valued at $3.8 billion, the market is expected to surpass $5 billion by 2025. Park and Walk is at the forefront of transforming the parking process for drivers, owners, and managers. With blockchain technology, parking lots, and even individual parking spots, are paired with digital assets with the help of the Google Maps geofencing feature. Smart contracts, also powered by blockchain, streamline payment processing for management, staff, and third-party contractors, including enforcement and maintenance.
Park and Walk’s management solutions ease parking operation challenges and enable smarter strategic decisions with real-time data. By allowing owners to evaluate the overall performance of lots, take care of finances, and manage day-to-day operations, revenue and compliance can be significantly increased. The Park and Walk platform helps managers to customize and establish business rules, instantly access account summaries, and automate payment flows. The robust web portal centralizes system functions, tracking, and lot management.
Driver Convenience & Savings
American drivers tend to overestimate parking time and add extra hours to avoid tickets. It is estimated that a U.S. driver in the U.S. adds an extra 13 hours on average for a year when paying for parking, while the cost of overpaying exceeds $20 billion annually. Parking can also be a cumbersome process for the driver. The innovative Park and Walk system eliminates the need for drivers to download an app or wait in line at a payment station. To park, customers scan a QR code, select the pass option, and pay. Park and Walk texts a receipt and notifies drivers when time is expiring and offers time extensions, giving ample time to avoid costly inconveniences like tickets, towing, or boots.
A smartphone and an internet connection are all that is required for third-party enforcers to check for parking violations and take action. After identifying an infringement, enforcers simply select the violation type and take photos of the vehicle. Then the enforcer chooses the applicable violation action, and a ticket, boot, or tow is issued. The driver receives an SMS notification when enforcement is created, including a hyperlink to digital payment options.
Powered by Black Ink Tech (BIT), Park and Walk runs on blockchain technology to create a transparent environment for centralizing parking data using an immutable and tamper-proof method. Blockchain-based ledgers increase the security of data input on the Park and Walk platform, including transactions for the parking lots/structures and license plate image captures, immutably storing the information on the storage protocol.
Parking made smarter
While many technical platforms have been introduced into the parking industry, Park and Walk is the first to offer a comprehensive system for drivers, owners, and managers that is backed by advanced, tamper-proof technology, allowing stakeholders to access critical data to inform decision-making processes.