Madrid launches Blockchain project to buy public transport tickets

Madrid launches Blockchain project to buy public transport tickets

The capital city of Spain is looking for mobility solutions and comes up with the Blockchain application, which allows you to purchase tickets for public transport. This application is operated by Banco Santander together with the certified company blockchain Vottun.

The application builds on a single digital payment system, and the result is a combination of all Madrid public transport systems into one. After registration, citizens can pay for bus, taxi and even charging for electric vehicles.

The Madrid in Motion initiative states on its website:

The initiative, launched with an international open call for innovation last February, aims to find solutions to major challenges in the field of urban mobility.

More than 300 startups from all over the world entered the first phase. In May, Madrid in Motion finished with the selection of six selected startups.

The cooperation between Banco Santander and the Spanish startup Vottun responded to the payment and tokenization call for mobility as a service. The aim of the pilot project is to create an application combining on-board equipment and payment of all mobile applications via blockchain technology, which will facilitate access to payments when citizens use different modes of transport.

Source: MadridinMotion

Also read how AirAsia uses blockchain technology for transparent air cargo tracking here.



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