The U.S. Department of Transportation’s Small Business Innovation Research programme has unveiled several proposed research areas, one of which includes investigating the use of crypto tokens to incentivise approaches towards “modality use by consumers.”
The research is proposed with a view to potentially solving the problem of limited parking space as the U.S. emerges from the pandemic.
"A novel strategy utilizing blockchain technology would provide a dynamic approach to incentivizing alternatives to driving,” the DOT’s document says.
“For instance, travelers can spend tokens to reserve a parking space or receive tokens for agreeing to use a different mode of transportation. As spaces are reserved and become scarcer, the system may offer increasing incentives, or tokens, for travelers to choose not to reserve a space or to take a different mode, such as public transportation and other shared mobility options. Blockchain technology could facilitate tracked, trusted payment transactions and provide verification to ensure that users can access a reserved parking space or earned incentives."