Blockchain Technology Arrives Everywhere – The Urban Mobility as we Know Can Soon Change

· 04 Jan 2018 in Crypto News, Home

Blockchain technology will change the way we live, that’s for sure. Almost every single field in life is going to be covered by an enterprise offering blockchain technology services. Urban mobility and the transport industry could soon meet the blockchain.

Transport Industry, Blockchain’s Next Stop

Urbanization has been increasing in different countries, in numbers and in complexity. Its expansion has been accompanied by technology in many cases. We can mention Uber and many other local applications that provide various services in the most important cities in the world. Another example that is worth to mention, is the incredible developments made with self driving cars and artificial intelligence within the transport industry.

With pre-paid transit cards loaded with cryptocurrencies, public transport users would be able to pay for a whole multi-transport trip in just one single payment. This is what Amos Haggiag, CEO and co-founder of Optibus, commented to Business Insider.

If an individual makes a multi-modal trip using train, bike and metro, it is necessary to pay, in general, for different tickets and in different places. With blockchain technology this could be solved and simplified. People could soon be using one single transport card to pay with cryptocurrencies a trip with multiple transports. At the end of the whole journey, the user pays for what it used, making the payment system easier and transparent. Besides that, it gives the possibility to enterprises to understand how the population travels and work based on this data.

Blockchain Needs to be More Developed

In order to implement this new system, blockchain needs to improve. At the moment, cryptocurrencies and its technology are in a very early phase of technological development. It is not possible to offer instantaneous payments and the possibility to pay without an internet connection.

If internet access is affected in a specific city, the users should be able to keep using the system. In addition to this, transactions can’t take hours to validate because the mass transit system needs an instant validation of the transaction.

It may take some more time to see these ideas implemented, but it is important to know that in the near future, it is possible to do it.

Image Source: KryptoMoney

The Bear Market Report
Our Bear Market guide not only helps you survive this crypto winter, but also guides you through the foundation you'll need to thrive in the next bull run.