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Parking Space Auctions

The Parking Auction App Lets You Sell Your Spot to the Highest Bidder

— August 15, 2011 — Autos
The days of trying to fit a square peg (gigantic car or truck) into a round hole (compact parking space) may soon be over thanks to the Parking Auction app. The app, which is not technically an app but instead a mobile browser-based service, makes parking spots easier to obtain by connecting those who are about to vacate their spots with those who need spots.

Each spot comes with a description of the car currently parked in it, a price and the seller's contact information. Prospective buyers can contact the seller to finalize the sale and receive the location of the spot. The Parking Auction app does not let users deal in real money; instead, it offers credits, which can be purchased on Parking Auction's website. This makes the app safer to use, as sellers are only out credits if a deal falls through.
Trend Themes
1. Mobile Parking Auctions - The disruptive innovation opportunity is the integration of a real-time bidding system that uses geolocation technology to match buyers and sellers, increasing efficiency and convenience for both parties.
2. Credit-based Transactions - The disruptive innovation opportunity is to expand this payment method to other industries that require an added layer of security, such as ticketing or rental services.
3. Personal Parking Assistants - The disruptive innovation opportunity is to develop AI-powered bots or mobile apps that can automatically bid on behalf of buyers based on their preferences and needs, making the parking process more seamless and effortless for drivers.
Industry Implications
1. Transportation - The disruptive innovation opportunity is to incorporate this mobile technology in the public parking system, reducing traffic congestion and improving parking management in busy cities or events.
2. Technology - The disruptive innovation opportunity is to utilize blockchain or other secure technologies to optimize credit-based transactions and improve trust and transparency between buyers and sellers.
3. Retail - The disruptive innovation opportunity is to partner with the Parking Auction app to offer special discounts or incentives for buyers who purchase credits or use the app, driving traffic to retail locations.
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