The U.S. is planning to develop a parking management system using blockchain technology. 

Blockchain-Based Parking Management System

The website of the U.S. Department of Transportation’s Small Business Innovation Research (SBIR) published a tender for research on various kinds of innovations. One of the research topics is called ” Blockchain-Enabled Transit Incentivization.”

The study involves implementing blockchain technology in the organization of parking lots. SBIR representatives suggest that parking spaces will become increasingly scarce over time. In such circumstances, blockchain will solve the problem of finding a free parking space. Other benefits of implementing a blockchain system include: 

  1. An incentive to use alternative modes of transportation.
  2. The ability to track the availability of parking spaces and book them in advance. 
  3. Decentralized management of the system and ensuring data reliability. 

Crypto tokens are planned to be used as an incentive for users and intra-system “currency.” The system is generally designed to provide “modality use by consumers,” gamification strategies amongst users, the coordination and scaling of the system to multiple facilities. 

Research in this area is at an early stage. Near-term plans include developing a mobile application concept, a system of incentives for users, and launching a pilot program.

Author: Evgeny Tarasov