peaq

Powering the Web 3.0 Economy of Things (EoT)

Leadership team

Max Thake (Co-Founder)

Leonard Dorlöchter (Chief Product Officer, Co-Founder)

Products/ Services

The Agung Network & Token: Named after the highest peak on the island of Bali, Indonesia, the Agung testnet serves as peaq's first publicly accessible network for running tests and experiments and getting to grips with many of the core mechanics that will feature on the public peaq main network upon launch. Peaq's tech stack: peaq’s tech stack provides users with everything they need to build and scale decentralised applications (dApps) for the Economy of Things. dApps built using the peaq tech stack are designed to run on the peaq network and bridge to other Web3 networks within the Polkadot ecosystem and beyond. The $PEAQ Token: It enables every core function in the decentralised Economy of Things, including ownership of machines via NFTs and liquidity provision for DeFi mechanisms. It is the first token to power a machine economy that aligns the incentives of all network participants.

Number of Employees

0 - 50

Headquarters

Berlin, DE

Established

2017

Social Media

URL

https://www.peaq.network/

Overview

Location

Recognition and Award

References

Summary

peaq technology is a company that provides a blockchain platform for the Internet-of-Things. It offers directed acyclic graph technology that solves existing blockchain problems by combining blockchain and DAG technology. Its platform allows companies to reduce costs, create new revenue streams, and automate processes.

peaq is the Web3 network powering the Economy of Things (EoT). peaq enables people to build decentralised applications (dApps) for vehicles, robots, and devices, while empowering dApp builders and dApp users to govern and earn from machines providing goods and services to people and other machines.

The peaq network leverages Machine DeFi and Machine NFTs to align the incentives of all stakeholders in the Economy of Things. peaq is designed to solve some of our most pressing societal and economic challenges of our time, ensuring that people earn more as machine-associated job automation increases.

History

peaq was established in 2017, as a flagship project by EoT Labs, an open-source development, incubation, and deployment lab.

Taking a different approach to all aspects of blockchain for the machine economy, peaq chooses a bold strategy, opting to use the technology to create value before using the technology to exchange value. The inverse of the status quo.
?peaq enables companies to build decentralised applications that enable machines to solve problems, save resources, and support people. An economy in which trust is built into its foundations. It aims to create a world in which people don’t fear machines - because they don’t have to.

Mission

peaq's mission is driven by taking the opportunity to make a global impact. In a recent interview with Hilton Supra, Vice Chairman of Ztudium Group, Co-Founder Leonard Dorlöchter illustrated an example of a real-life use case where peaq has made a significant contribution. He said that the company is working with a mission to a seamless machine economy:

“The Internet of things presently is a place where machines send and receive data, and the Economy of things is going to be a place where machines also can offer and consume goods and services. An electric vehicle goes to a charging station, gets charged, and then pays the charging station with energy. And then this EV picks up someone who has booked a taxi ride and then receives money from that person, and then it pays for a toll road that it is driving through and all of that happens directly Peer to Peer. You need an open ecosystem, open identities in order for those things to work frictionless.”

Vision

According to its website, peaq is "striving for a new economy, a decentralised Economy of Things, by safely empowering machines to the benefit of society."

According to Leonard Dorlöchter:

“peaq's vision is really focussed on the real world, creating real value and revenue in real-world transactions. We are not just an on-chain project that is just moving money from A to B but really making that bridge to the real world.”

Key Team

Michael Knip (Content Marketer)

Mauricio Zolliker (Business Development & Ecosystem Growth Lead)

Miguel Santafé (Creative Director)

Daria Tagliabue (Communications/Director)

Cody Gregoryk (Global Partnerships)

Max Thake (Co-Founder)

Leonard Dorlöchter (Co-Founder, Chief Product Officer)

Recognition and Awards

peaq raised $6 million in a round led by Fundamental Labs. Other investors in the round included HashKey, Delta VC, GSR and Cypher Capital. peaq was also awarded the Breakthrough Award from Weka Media Publishing. peaq recently announced that it will co-create the standards and infrastructure for the future of mobility as part of Gaia-X 4 Future Mobility moveID project, with an overall size of more than €20 million, by Gaia-X, the European Association for Data and Cloud. The three-year project brings together top industry players to build a sovereign digital infrastructure enabling secure, connected, and open mobility, with peaq, which is built on Substrate and will run for Polkadot and Kusama parachains, contributing its layer-1 blockchain to moveID.