50,000 charging stations for electric vehicles in Europe accept payments in cryptocurrency
Over the next three years, 50,000 EV charging stations across Europe will accept payments in cryptocurrency.
50,000 charging stations for electric vehicles in Europe accept crypto payments
Two payment companies, HIPS Payment Group Ltd. (Ireland Group for E-Commerce Solutions and Mobile Payments) and Vourity (a Swedish payment company that takes care of unaccompanied payment vehicles, i.e. charging points for electric vehicles) have teamed up to push crypto payments to nearly 50,000 charging points for electric vehicles in Europe promote countries. The integration of crypto payments with charging stations will take place over the next three years, starting in November 2021.
The companies have not disclosed which cryptocurrencies are supported. Vourity CEO Hans Notehead said the company is currently discussing which cryptocurrencies it will support. He added that the selected cryptocurrency will be transferred to fiat.
“We are currently evaluating which cryptos / coins we will support. Hans Nottehed, CEO of Vourity, said.
However, Vourity gave a pretty clear indication that Ethereum will likely be among the first cryptocurrencies when the company posted a photo of a payment terminal with the ETH symbol on it. Ethereum is switching to a much more energy-efficient proof-of-stake consensus mechanism next year that could mitigate any backlash from environmentally conscious electric car drivers.
50,000 EV charging stations in Europe will accept crypto payments. Terms of payment
Cryptocurrency payments are coordinated with Vourity’s EV charging stations by connecting to blockchain technology via the HIPS Merchant Protocol, a native trading protocol.
In May 2021, the HIPS Payment Group introduced the HIPS Merchant Protocol, the HIPS Merchant Protocol Gateway and the Merchant Token.
The protocol was built on Ethereum and Solana in May 2021 and there are plans to expand support for Cardano in the near future.
HIPS notes that in addition to providing real-time exchange rates, the HIPS trading blockchain is designed for exchanges, regardless of whether they are in-store / e-commerce or mobile exchanges. The payment card industry inspired the HIPS blockchain concept.
“Also, with near real-time transaction speeds, the Hips Merchant Blockchain is designed for merchant transactions, whether they are mobile, in-store, or e-commerce, using the concept of exchanges taken from the payment card industry,” noted HIPSIPS in May.
Cryptocurrency payments are integrated into Vourity’s EV charging stations by connecting to the blockchain via the native Hips Merchant Protocol token.
Musk Inspires Innovative EV-Focused Companies to Adopt “Clean Crypto”
The withdrawal of Bitcoin payments for cars and other Tesla products has raised awareness of environmental violations in the Bitcoin community. Elon Musk has announced that Tesla will not accept BTC until the mining sector has at least 50% clean energy.
Tesla’s move has been appreciated by conservationists around the world and has had an impact on the price of Bitcoin.
Inspired by Musk, other companies that focus on electric vehicles are pursuing techniques to find ways of “pure” mining of cryptocurrencies.
Earlier this month, Canadian light electric vehicle maker Daymak announced an upcoming EV kit for 2023 that comes with a crypto mining rig that can mine Bitcoin and other cryptocurrencies while it is being charged or stopped.
In March, Stellantis, the parent company of European automaker Fiat, partnered with Kiri Technologies to promote “green driving” by rewarding Fiat electric car drivers with smart cryptocurrency through Kiri Technologies’ KiriCoin.
In the same month, Volkswagen Group Innovation, the research arm of German automaker Volkswagen, announced a partnership with Energy Web, a non-profit organization focused on the open source energy transition.
Installing crypto payments in EV charging stations gives EV drivers and owners a choice of different currencies to handle their taxes. Crypto users benefit from payment alternatives at 50,000 charging stations for electric vehicles.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.