(Image Copyright: Ümit Yildirim/Source: Unsplash]

The transportation industry has evolved considerably over the years, and incredible ideas that seemed possible only in a fictional world have now become a reality. Electric cars and autonomous vehicles are outstanding innovations designed to improve traveling, making it more convenient and faster. However, in urban areas, commuting comes with significant environmental and economic costs, leading to massive greenhouse gas emissions. Since India has a high population, the country has developed a solid mass transit system.

However, some issues still need to be resolved, and the adoption of blockchain is the ideal solution. While many people associate it with cryptocurrency, blockchain has applications in multiple industries. The financial sector implemented this technology a couple of years ago, benefitting significantly from it, and nowadays, automotive businesses are embracing blockchain, too, as they start discovering its perks. Let’s further explore this topic.

Blockchain and transit systems

Blockchain is a decentralized database and, at the same time, a technological innovation that can help lower costs and mitigate risk by introducing new business models in transit systems. This…