PARKRES PLATFORM : Parking Reservation System .

Good day everyone,i would be writing about the PARKRES PLATFORM like i introduced the last time,click on this link in order to have an overview view of it https://steemit.com/blockchain/@adelekejustin01/introduction-to-parkres-parking-reservation-system .Today i would be writing further on the following;
A) WHY BLOCKCHAIN?
B) PARKRES TOKEN

WHY BLOCKCHAIN?
There are several parking authorities and parking providers that exist today, each of
them working on different set of policies, standards and framework. This creates an
unregulated, unchecked marketplace. If you notice, there are no rate regulations,
controls or standards in place, when it comes to parking charges from place to place.
Parking rates may vary anywhere between $2 to $10 per hour depending on various
factors. This needs to be regulated and standardized, so consumers don’t pay ridiculous
amount of money on parking.
Blockchain can easily solve the issue.

Especially ethereum-based blockchain, which is
capable of managing and executing smart contracts, has benefits over the others. Smart
contracts can be setup between parking providers and different parking authorities in
such a way so parking rates across a particular zone can be standardized and controlled.
Since the rates and terms will be managed over blockchain and executed by smart
contract, there is no possibility of tempering and manipulation of the policies, so no
system can bypass it.
Consumers do not have to worry about parking payments when on domestic land or
foreign.

Since blockchain allows payment via digital currencies, so no currency
conversion overhead costs or international credit card transaction charges for the
customer. Parking experience for the consumers will become seamless.
Parking providers do not have to onboard and support different payment gateways like
visa, MasterCard, Moneris which charges anywhere between 3.9 to 10% on every
transaction. Millions of dollars are paid to broker applications and payment gateways
just to process transactions and on credit card transaction fees. Parking providers
would be able to save all this revenue. This will boost the efficiency and productivity of
their parking locations.

PARK is the official token for PARKRES ecosystem. Tokens can be used in 2 ways:
● as Utility Tokens and
● as Value tokens.
Utility tokens provide discounted parking rates to the token holders, when they use
these token. These tokens will be used to make the payment against parking and
reservations. To use PARKRES APIs PARK tokens will be needed. PARK tokens are
utility tokens as it is needed to use the PARKRES ecosystem and integration framework.
User can chose to stake PARK tokens as value tokens in this case they would work like
bonus accumulating tokens or loyalty tokens. To use PARK as Value Tokens the token
holder should hold the tokens in their PARK wallets, in other words, stake the tokens
for a fixed amount of period, once they do so, these staked tokens will gain loyalty bonus, which will be released by the company from time to time. Bonus allocation
would start once the PARKRES platform is successfully installed and operational for the
public use.

Why PARK tokens is not Security but Utility token?
Globally, tokens are considered either to be utility or security. As the name suggests, utility
tokens are tokens, which have an underlying utility function within the platform or product,
whereas security tokens are solely used as a fundraising and trading currency.
As this whitepaper has properly proven, PARK is a utility token. End-users engage in
transactions with other end-users and can either spend or earn PARK tokens through
several actions within both the Parkres Parking app and the Parkres Platform. PARK is, in
other words, a consumable resource on all of Parkres products and services.

TOKEN INFORMATION
Token Symbol:
PARKRES (PARK)

Token Standard:
ERC20 (Ethereum)

Tokens Issued:
200 000 000 PARK

Tokens available for ITO:
85 000 000 PARK

May 1st to July 15th (Private Sale):
10 000 000 PARK

Aug 15th to Sep 15th (Pre-ITO sale):
20 000 000 PARK

Nov 1st to Nov 30th (Public sale):
55 000 000 PARK

Bonuses:
70% bonus - Private sale
15% bonus – Pre-ITO
10% - Referral Bonus

Token price at launch of sale:
1 PARK = 0.5 USD

Currency:
BTC, ETH

TOKEN ALLOWCATION

HOW THE SYSTEM WORKS

a) List a Spot
Use parkres application to list your available parking spot.

b) Confirm Booking
Once listed and validated, the spot will be shown to parking seekers. Driver submits an inquiry for you spot, you approve it, and rent out your parking spot.

c) Get Paid
Once the booking is approved by you, transaction will be automatically trigger on Parkres smart contract, and you will receive funds in your park wallet. You would be able to transfer funds to any wallet, or account you want or simply leave them in you secure Park wallet.

d) Find a spot
Find a Parking spot by postal code or address, select a desired facility from the available result shows. After comparing the parking rates, select a desired parking spot on the screen.

e) Reserve your spot
Once you have selected the desired spot, click "Book this Space". That's it, your spot is reserved and waiting for you.

f) Park
Just drive to the reserved location with the help of parkres navigation system and park your car. PARK tokens will be automatically deducted from your PARK wallet for the amount of time you used parking spot for.