PARKRES provides a state of the art sensory network to track and manage parking spots across a city and parking lots. It employs an IoT (Internet of Things) based sensory network to track and monitor the parking spots across parking locations to suggest or allow you to reserve parking spots closest to your destination in advance. This revolutionary service saves countless time, hassle, traffic congestion, fuel and paper waste as transactions are made with the PARKRES cryptocurrency and payments can be made by phone, online, auto payments, or monthly subscriptions. System also allows making payments by FIAT currencies and credit cards if user chose to do so over digital currencies. PARKRES system is reinventing the parking industry, as we know it today. On PARKRES platform users would be able to register or list their own free/open parking spaces, garages to rent out and make money from it. It would revolutionize the private parking rental industry, and provide user means to capitalize on their empty and unused space.