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What Blockchains Could Mean for Transportation and Government

Friday, February 2, 2018

The World Economic Forum estimates that by 2027, 10 percent of global gross domestic product will be stored on blockchains.

A blockchain is a digital, openly shared, decentralized log of transactions. Blockchains allow non-trusting members to interact over a network in a verified way, without a trusted intermediary, such as a bank.

From freight shipping to toll payments to ridesharing, blockchain technology is being applied in innovative ways to a variety of transportation and government sectors. If there is an interaction between government and citizen that relies on multiple databases, that interaction may be streamlined with blockchains.

Chart of potential blockchain application for transportation and government

A new report from the U.S. DOT Volpe Center, What Blockchains Could Mean for Government and Transportation Operations, is a high-level primer that covers:

  • Blockchain technology basics
  • How smart contracts work
  • Potential and current applications in government and transportation
  • Challenges to widespread implementation
  • Blockchain initiatives in transportation and government

Read the report to get up-to-speed on what blockchains could mean for transportation operations and more. 

Updated: Tuesday, February 20, 2018