HomeBlockchainBlockchain technology could potentially provide a solution for improving the UK's transport...

Blockchain technology could potentially provide a solution for improving the UK’s transport ticketing systems

-


Heading: Innovative Approach to Transport Ticketing Using Blockchain and Ontology Technology

The University of Birmingham has introduced a groundbreaking new approach to transport ticketing that promises to revolutionize the way passengers and providers interact across all modes of transport. Traditional ticketing systems have long been plagued by issues such as lack of transferability and adaptability to new technologies and policies.

In a recent publication in the journal IET Blockchain, researchers unveiled STUB (System for Ticketing Ubiquity within Blockchains), a system that combines the power of blockchain and ontology to create a transparent and interconnected data framework for ticket providers. By tokenizing tickets on the blockchain and utilizing ontology to share contextual information about transport networks, providers can offer a seamless and user-friendly ticketing experience.

Lead author Dr. Joe Preece emphasized the importance of smarter transport ticketing systems in an increasingly interconnected world. STUB’s approach aims to empower existing ticket providers and technologies to share core ticketing data and build new solutions on top of it, rather than creating a central data platform with fixed transport policies.

The next step for the team is to implement a pilot scheme for the technology in a regional transport network to demonstrate its efficacy and gather feedback from operators and passengers. Dr. Preece acknowledged the challenges of integrating the new technology with existing infrastructure but remains optimistic about the potential benefits it can bring to the transport sector.

For more information on this groundbreaking research, you can refer to the published paper in IET Blockchain by Joseph D. Preece et al. (2024).

LATEST POSTS

FTX, a failed crypto firm, claims to have more than enough funds to compensate victims

FTX cryptocurrency exchange has billions more than needed to repay customers The former chief of cryptocurrency exchange FTX, Sam Bankman-Fried, has been sentenced to 25...

ARK Invest eliminates staking feature from Ethereum spot ETF filing

ARK Invest and 21Shares have made a significant amendment to their proposed spot Ethereum exchange-traded fund (ETF) by removing the staking component. This move,...

Binance CEO explains temporary withdrawal pause caused by stuck transaction

Binance Suspends Bitcoin Withdrawals Temporarily: CEO Changpeng Zhao Binance, the world's largest cryptocurrency exchange, has temporarily suspended client withdrawals of Bitcoin, causing a stir in...

Global Blockchain in Healthcare Market Expected to Exceed USD

Global Blockchain in Healthcare Market Forecast and Insights The Global Blockchain in Healthcare Market is projected to reach a value of USD 214.56 billion by...

Most Popular