Blockchain boosts city's smart transportation

Shanghai is advancing the use of blockchain technology in transportation, enhancing data security, transparency and operational efficiency.

The city hosted the "blockchain + transportation scenario market" on Friday, showcasing the growing role of blockchain in transforming the transport sector.

Blockchain is increasingly used to secure data in smart transportation, especially with the rise of electric vehicles and autonomous driving, according to the city's data bureau.

It ensures that vehicle data remains transparent and traceable. At the event, experts and company executives discussed how blockchain can track vehicle data, improve road asset management and streamline maintenance.

The Shanghai New Energy Vehicle Public Data Center (EVDATA) introduced its "Hujiabao" service, which securely stores EV data and speeds up accident data retrieval from days to minutes, improving governance.

Companies are using blockchain to enhance vehicle safety. CCSMEC, a local company in smart vehicle digital operations, has developed a platform that combines AI and blockchain to monitor electric vehicle batteries, preventing risks such as fires.

Another high-tech firm, Lingshu.net, is applying blockchain to vehicle data sharing, accident analysis and insurance, making claims processing faster and more accurate.

The insurance industry is leveraging blockchain to streamline claims and reduce fraud. By securely verifying accident details and responsibilities, blockchain improves efficiency in autonomous vehicle insurance, where traditional methods face challenges, according to the China Pacific Insurance Group Digital Intelligence Research Institute.