article

Blockchain disruption in transport

The Transport Systems Catapult (TSC) is currently undertaking a project with Sheffield University, working with partners such as IBM and DOVU, to explore the value of blockchain and other distributed ledger technologies (DLT) to the transport industry. Based on interviews, workshops and literature reviews, they have set out to discover the ways that blockchain could be used in transport and whether the industry should be taking note. In this article, TSC Senior Technologist Charles Carter gives Intelligent Transport a primer on the technology in the transport industry.

blockchain

The first question anyone will ask when they see an article about blockchain is “what is it?” – quickly followed by an observation about bitcoin. It’s a valid question and one we need to start answering if we are to ascertain how this promising technology could shake up the transport industry to the same extent as the financial sector.

Blockchain does indeed have its history in cryptocurrencies, starting with Bitcoin in 2009, but the underlying technology can be applied to numerous different scenarios – including many in transport.

Blockchain is a database technology built on collaboration and sharing control over data amongst stakeholders. Fundamentally, it is a digital ledger, where data is added in sequential blocks, with each block marked with the identifier of the previous entry (creating a chain). The database in any blockchain system is then replicated and stored across multiple locations throughout either an open or stakeholder network. This is where the term ‘distributed ledger’ comes from.

The rest of this article is restricted - login or subscribe free to access

Thank you for visiting our website. To access this content in full you'll need to login. It's completely free to subscribe, and in less than a minute you can continue reading. If you've already subscribed, great - just login.

Why subscribe? Join our growing community of thousands of industry professionals and gain access to:

  • quarterly issues in print and/or digital format
  • case studies, whitepapers, webinars and industry-leading content
  • breaking news and features
  • our extensive online archive of thousands of articles and years of past issues
  • ...And it's all free!

Click here to Subscribe today Login here

 

Related topics
,

Related organisations

Related people

Send this to a friend