Decongesting roads with smart traffic systems

A few days ago in Pune, stuck in a massive traffic snarl, a news item popped into my head where I read a report that Bengaluru suffers a loss of Rs 19,725 crore per year due to traffic delays, congestion, stoppage of signals, time loss, fuel loss and related factors. Staggering! And why Bengaluru, other cities are not far behind. Mumbai, Gurgaon, Delhi, Chennai… the list is only growing.

Congestion in cities has become a constant source of annoyance, wasted time, and has led to environmental degradation. Traditional traffic management methods frequently fail to address these challenges effectively. Is there any solution?

Well, the introduction of blockchain technology provides a ray of hope for altering the way we manage traffic.

I recall the days when we were implementing a Blockchain-based Intelligent Traffic System (BITS) in Brazil. It leveraged blockchain technology to revolutionise traffic management and improve overall transportation systems. It is intended to alleviate the problems associated with traditional traffic systems, such as congestion, poor resource allocation, lack of transparency, and vulnerability to fraudulent operations.

Blockchain's immutability ensures the integrity of traffic data, lowering the danger of manipulation or fraud. Furthermore, the technology's decentralised design eliminates the need for intermediaries, allowing for smooth and secure peer-to-peer communication between vehicles, infrastructure, and traffic authority.

We introduced Mobility-as-a-Service (MaaS) – an integration of multiple mobility providers into a single platform, allowing consumers to plan, book, and pay for their whole journey using a single app or service. By mixing several forms of transportation, including public transportation, ride-sharing, bike-sharing, car-sharing, and even taxi services, the platform delivers a seamless and easy travel experience.

The idea was to shift the emphasis away from personally-owned automobiles and toward more sustainable, efficient, and cost-effective mobility options. It acknowledges that people's transportation needs can be satisfied by a combination of modes, based on factors such as distance, time of day, cost, and personal preferences.

This has the potential to reduce traffic congestion, reduce carbon emissions, improve transportation infrastructure use, and improve the entire travel experience for passengers. It also has the ability to encourage more environmentally friendly transportation options and lessen dependency on individual car ownership. More cities are implementing this amongst other initiatives as well.

Dubai for example leverages blockchain technology to modernise its transportation system. The Dubai Roads and Transport Authority (RTA) has launched a number of initiatives, including a blockchain-based vehicle lifecycle management system that allows for the secure and transparent transfer of vehicle ownership and data.

VeChain, a blockchain platform, has collaborated with many automobile manufacturers to create digital passports for vehicles. These passports use blockchain to store car data, allowing for transparent maintenance records, ownership history, and anti-counterfeiting procedures.

While there is no single solution for anything but going forward, it is critical to continue researching and investing in blockchain-based intelligent traffic systems. The blockchain revolution in this space is only getting started, and it holds enormous promise for a brighter and more efficient future.