Bringing Markets to Meters

“At the heart of this revolution lies technology like that announced in 2011 by IBM: sensors determine when a spot is occupied by a vehicle and relay that information to a software suite that maps the real-time occupancy of a city’s parking meters. This system can then be coupled with an algorithm that prices each block or even each individual parking space; a mobile app transmits this information to consumers. The result should theoretically make finding a parking spot quick and efficient, rendering those old methods of spot-hunting obsolete (and reducing emissions for circling cars, to boot).” See More . . .

By: Nick Carney

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