Consultants on the College of Birmingham (UOB) in the UK have developed a transport ticketing resolution utilizing blockchain and ontology.
Proving but once more that blockchain expertise has utility past funds, the UOB workforce developed the System for Ticketing Ubiquity inside Blockchains (STUB) resolution.
STUB makes use of each blockchain and ontology, a means of modeling and managing advanced data programs to create strong, clear, and interconnected knowledge constructions.
Whereas the blockchain is used for promoting and validating tokenized tickets, ontology permits suppliers to seize and share details about the transport community. This, in flip, will allow them to supply knowledge about routes, schedules, and availability.
Noting that conventional ticketing programs don’t enable switch throughout multi-modal transport networks, Dr. Joe Preece stated, “The system we have now devised allows ticket suppliers to function in a extra clear, versatile surroundings, that may finally supply passengers a extra user-friendly expertise.”
The subsequent step is to ascertain a pilot scheme in a regional transport community to gather suggestions from passengers and ticket operators and to check the system itself.
Blockchain has many use instances past funds
Blockchain is finest often known as the decentralized database on which funds may be made with digital currencies. Nevertheless, as CoinGeek has been reporting for years now, it has utility past funds.
Blockchains are, in essence, distributed databases. Subsequently, they can be utilized for monitoring and tracing nearly something, and knowledge may be secured extra securely. For instance, IBM (NASDAQ: IBM) and Gate2Chain are utilizing the BSV blockchain for the Hint App in an try and overhaul world provide chains. Likewise, IBM additionally helped develop the next-generation cybersecurity software Sentinel Node on the identical chain.
Combining the blockchain’s means to trace and hint exercise through time-stamped immutable data with different components, equivalent to tokenization, opens up a world of potentialities. Abruptly, it turns into potential to streamline and automate many various processes securely.
The environment friendly switch of tokenized property is one use case, however monitoring the possession and authenticity of luxurious items, minting and distributing tickets and loyalty tokens, and with the ability to securely retailer knowledge to show compliance are a number of the different thrilling use instances for blockchain.
As regulators perceive the expertise and develop rules to stamp out dangerous actors whereas encouraging innovation, extra initiatives just like the College of Birmingham STUB ticketing system are more likely to emerge.
It’s excessive time we seemed past the floor degree and realized how blockchains may help us retailer and handle knowledge, construct extra strong and safe laptop networks, and allow peer-to-peer communications and funds. Fortunately, the pace at which policymakers, entrepreneurs, and others notice this implies utility blockchain purposes shall be coming thick and quick going ahead.
May you construct the following killer blockchain app?
Because the College of Birmingham challenge reveals, blockchain may be mixed with different applied sciences, on this case ontology, to create attention-grabbing and helpful purposes. It may also be mixed with AI, IPv6, the Web of Issues (IoT), AR/VR, good contracts, and a number of different applied sciences to revolutionize industries and construct the following era of companies on the Metanet.
When you have an thought for a killer blockchain software, enterprise builders like Block Dojo or Ayre Ventures may enable you make it a actuality by offering experience, instruments, and funding to construct on the BSV blockchain. Why not attempt to make your blockchain app thought a actuality?
Watch: Showcasing energy of blockchain tech with nChain Web3 occasion app