Blockchain technology has the potential to improve future transport in a number of ways, beyond the lifecycle protection of V2X (vehicle-to-everything) communications. Some of the ways that blockchain could improve future transport include the following:
Supply chain management: Blockchain technology could be used to improve supply chain management in the transportation industry. By creating a shared, immutable record of transactions and events, blockchain can help to improve the visibility and traceability of goods and materials as they move through the supply chain. This can help to reduce fraud and errors, and improve the efficiency and reliability of the supply chain.
Vehicle tracking and monitoring: Blockchain technology could be used to improve vehicle tracking and monitoring in the transportation industry. By creating a decentralized, transparent record of vehicle movements and behaviors, blockchain can help to improve the accuracy and reliability of vehicle tracking and monitoring systems. This can help to reduce accidents and improve the safety and efficiency of transportation networks.
Payment and settlement: Blockchain technology could be used to improve payment and settlement in the transportation industry. By creating a secure, decentralized platform for the exchange of value, blockchain can help to reduce the cost and complexity of payment and settlement processes in the transportation industry. This can help to improve the efficiency and profitability of transportation businesses.
Regulatory compliance: Blockchain technology could be used to improve regulatory compliance in the transportation industry. By creating a transparent, auditable record of transactions and events, blockchain can help to improve the visibility and accountability of transportation businesses. This can help to reduce the risk of non-compliance with regulations, and improve the overall safety and reliability of the transportation industry.