Benefit

Decentralized blockchain networks that use automated smart contracts can potentially reduce ride-sharing costs by 20 percent.

Disruptive technology in the automotive industry.


05/25/2017
Nationwide; United States


Summary Information

This article discussed blockchain technology in the automotive industry and examined how the Ethereum network could connect automobiles and other Internet-of-Things (IoT) devices to support automated vehicle applications.

In most US cities, there are about 100 times more roads than mass transit lines leading to significant opportunities for improved ride-sharing applications.

FINDINGS

Connecting drivers with riders using a decentralized blockchain network with automated smart contracts customized for ride-sharing would eliminate the 20 percent service fee required by large ride-matching services and enable drivers to save money and provide cheaper rides.


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Source

How Blockchain Tech Could Move Self-Driving Cars Into the Fast Lane

Author: Reutzel, Bailey

Published By: Coindesk, Inc.

Source Date: 05/25/2017

URL: https://www.coindesk.com/blockchain-move-self-driving-cars-fast-lane/

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Goal Areas

Productivity

Typical Deployment Locations

Metropolitan Areas

Keywords

smart cards, Smartcard

Benefit ID: 2018-01232