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- The Federal Highway Administration of the US, which comes under the US Department of Transportation, is going to fund research that aims at improving highway administration.
- The FHWA is considering Blockchain for multiple use cases under a Broad Agency Announcement issued by its Exploratory Advanced Research Program.
- A group of five prominent carmakers led by BMW and Ford, Mobility Open Blockchain Initiative (MOBI), is already working on such a solution.
Blockchain is a fast-growing technology, and it has been found useful in multiple sectors. Many industries are already formulating plans for the implementation of Blockchain technology.
Recently a group of companies from aircraft industries were discussing to use Blockchain technology to keep track of replacement parts and repairs for the aircraft.
Now, the Federal Highway Administration of the US, which comes under the US Department of Transportation, is going to fund research that aims at improving highway administration. At the moment, a contract worth $4 million is out there for a company that can provide a proposal for a “revolutionary transformation” of highway engineering by 20th March 2020.
The FHWA is considering Blockchain for multiple use cases under a Broad Agency Announcement issued by its Exploratory Advanced Research Program. The available research topics are secure certificate management for vehicle-to-vehicle and vehicle-to-infrastructure applications along with highway pricing. The agency is looking for a “dynamic and auction-based mechanism.” to offer this contract.
A group of five prominent carmakers led by BMW and Ford, Mobility Open Blockchain Initiative (MOBI), is already working on such a solution. MOBI is currently working on the successful implementation of a blockchain vehicle ID system to record service history and ownership of the Blockchain, enable automated payment of highway tolls and parking charges.
The FHWA’s Broad Agency Announcement is also seeking Blockchain-based ideas that are related to freight-data management. To be specific, the projects that provide security through anonymizing data around routing along with pickup timings coupled with the transfer and delivery of goods.
The transportation industry is one of many areas that could gain benefits by utilizing the Blockchain technology. The digital ledger offered by Blockchain is a perfect place to keep records of goods and services that are to be tracked and secured.
The fact that these ledgers cannot be tampered with easily makes them an even more attractive option for the industry. On top of the mentioned benefits, it also offers other benefits such as traceability, security, and efficiency. Walmart, in Canada, is already utilizing Blockchain technology for freight and payment networks with over 70 trucking partners as of 2019.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
