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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.

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. 

Source website US Department Transpotation volpe
Tag(s) : #Future, #Technic, #Science, #Economy, #Innovation, #Politic
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