CHRG Network is a play in the sharing economy. It’s a blockchain-fueled universal platform designed to connect electric vehicle drivers and privately owned electric vehicle charging stations, the latter of which face overwhelming idle time of their equipment. CHRG Network itself doesn’t own any charging stations, but they are targeting a shortage of electric vehicle charging infrastructure globally.
The CHRG Network is comprised of a tokenized payment ecosystem that connects charging stations onto one network, giving the owners of these stations the ability to generate income by sharing their stations with electric vehicle drivers.
Users reserve a charging station and pay for their usage with CHRG tokens. Charging station owners set their own price and can “flexibly manage their charging stations.” Charging station owners can continue to use the charging stations for their own purposes and rent it out during idle times.
CHRG has developed a blockcain-based payment platform on which users pay as they go. It slashes transaction costs from a range of 0.3-0.5 euro to 0.02-0.05 euro. The smart-contract fueled payment system will ensure the security of data to prevent counterfeit and also keep records of user history including ratings and reviews.
Drivers are the main buyers of the CHRG tokens, while electric vehicle charging station owners are the main sellers of the tokens. The CHRG Network receives a commission for each transaction between the two parties.
CHRG is targeting people, including charging station owners and electric vehicle drivers, as well as “businesses such as shopping malls, restaurants, gas stations, motels, etc., and electric car charging networks.” Developers can also build in the CHRG API. In 2017,electric vehicle supply surpassed 2 million units .