Blockchain, Featured

How Blockchain Technology Plays Important Role In Railway Companies

The public transport provider and the Financial Times-Stock Exchange FTSE 250-listed rail company Go-Ahead will work with a blockchain technology powered reward platform DOVU in order to know more about its customers and incentivize changes in the travel behavior of passengers with the aim to improve their rail experience. This project will be run on Thameslink and Southern Rail services of the United Kingdom.

Users will receive tokens as loyalty points for sharing their travel data with Go-Ahead. This loyalty scheme will be run completely on a blockchain platform and token will act as a loyalty tracking device.

DOVU is a London-based startup supported by InMotion Ventures, Jaguar Land Rover’s investment arm, and Creative England. The startup is basically designed to track movements on a grid associated with mobility along with the employment of data and information tokenization. It creates a network of transport-related data resources where its services such as vehicle hire, insurance companies, and ridesharing are connected all together.

Irfon Watkins, the Founder, and CEO of DOVU, aims to build trust for public and enterprises by using Blockchain technology. The platform has its own system which works as a distributed marketplace for transport data. Basically, it aims to become one of the global marketplaces for transport data, reported TechCrunch.

The National Railway company of Switzerland Swiss Federal Railways has completed a proof-of-concept (PoC) of an identity management system which is based on the blockchain. The software studio for blockchain architecture Linum Labs developed the product for this railway company. It aimed to build decentralized systems and deploy Ethereum-based identity management protocol uPort.

Railway workers, certification authorities and supervisors used a self-sovereign identity and data platform uPort in order to create their own unique digital identities in the uPort app on their smartphones during the testing time. Afterward, they started using this platform to sign-in and sign-out of their working construction sites, Cointelegraph reported.

The German railway company Deutsche Bahn AG has made a partnership with the first unified framework for blockchain-based business integration Unibright in order to use Blockchain technology with the main aim to tokenize the ecosystem around a public transport company. They developed a blockchain-based solution in order to bring together all connected travel services such as tickets, vouchers, local transport, accommodation, local train networks, Medium reported.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
coinmag

Shabnam Dhar is a Copy Editor for OWLT Market.

Leave a Comment

Your email address will not be published. Required fields are marked *