The report says that these technologies allow parties to enter into direct relationships with each other according to a commonly agreed set of rules and a high degree of trust.
This, combined with a common language for the internet of mobility and new means of getting insight from previously isolated data, these applications may redefine how people access, pay for and use transport in their everyday lives.
The deployment of DLTs is still in its early stages, especially in support of Mobility as a Service (MaaS). It is yet unclear how DLTs will enter into economic sectors including transport and daily life.
Uptake depends on whether or not decentralised ledgers such as blockchains can deliver better result than traditional ledger used today. It will also depend on whether they can enable new applications that are not yet possible with existing technologies, and from how much support will receive from the regulatory environment.
To best use these technologies the report suggests:
- Public authorities must prepare for a much more networked and engaged world;
- Consider changes in data science and technology when developing Mobility as a Service;
- Look beyond initial cryptocurrency applications of distributed ledger technologies;
- Governments should assist in using the building blocks that allow wider use of distributed ledgers;
- Apply blockchain technology now for slow and small transport use cases; anticipate next generation distributed ledger technologies for "big and fast" applications to be used later;
- Governments should establish algorithmic code-based regulation to support the uptake of distributed ledger technologies.
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