Mobility as a Service - to Blockchain or not to Blockchain?
The transportation industry is experiencing significant change as connected vehicles, autonomous cars and ridesharing impact the landscape. To stay competitive, industry leaders are constantly looking for opportunities to increase efficiency, improve security, reduce environmental impact and refine the customer experience. Luckily, blockchain has the potential to solve some of the sector’s most pressing problems.
Blockchain-based MaaS is considered an effective solution to building a smart transport platform as a decentralised network in which the transportation providers can verify and confirm their tickets through a blockchain containing smart contracts as tickets. It can also verify shared mobility asset history, offer better supply chain tracking, automate transactions and enable seamless ridesharing or the development of innovative insurance offers. Mobility enterprises (and interestingly non-mobility players) are already integrating this technology and coming out with exciting applications.
The high speed processing technology will be used to record transport data of more than 7 million people per day. The platform will incorporate multi-modal means of transportation such as trains, buses, taxis, car sharing, on demand mobility services and rental bicycles and in return will provide users with information regarding optimal routes to desired destinations and recommended transportation services.
The database offers scalability and fast data processing making it a viable option to be used by transportation operators in large cities and the platform is not solely built for the purpose of a MaaS, but can be “applied to the recording and sharing of various forms of sensor data related to the development of smart cities.”
It is interesting that Sony released an electric car to showcase its in car systems and now is releasing a blockchain platform that can be used in any field but they choose to release it to the Mobility as a service market first.
From an Automotive perspective, we also think the rise of digital wallets and blockchain combined with increased connectivity of cars and 5G is driving an arms race for control of mobility payments. This is just one more part of the dis-intermediation of vehicle manufacturer as an increasing number of cars become shared or on demand resources. Soon, it wont be the transportation asset that's important to you but the mobility wallet (i.e payment provider) that’s embedded in your phone.
The payment provider who can provide seamless access to transport across all modalities and also layer in loyalty, discounts and access to great benefits will become even more important than the transportation options you choose.
Ehlion discuss some of the pro's and con's of block chain in this article and of course, if you are thinking about what this means for your business as you consider the ever changing city and transport landscape, please visit us at www.mytripadvisory.com
*Image courtesy of Pexels