IoT and Blockchain solutions can transform freight logistics and the connected and automated vehicle industry. While blockchains were originally made for financial applications, their ability to allow members to interact in a verified way, without a trusted intermediary, means they can potentially revolutionize many other industries, such as transportation and logistics. Blockchain can reduce costs, delays, and errors associated with networking between privately controlled databases. Blockchain solutions can provide a platform to share data from infrastructure and vehicles in a secure manner using sensors and high-speed wireless technology. Transportation and safety applications using blockchain would offer security and scalability at lower costs than private networks currently can provide.
Challenges facing next generation smart roads and transportation systems include: