Researchers at Massachusetts Institute of Technology have announced a Proof of Concept (PoC) prototype to lower traffic congestion by motivating cycling through an ethereum blockchain based financial incentives system that employs smart contracts for rewards.
The researchers state urban population is estimated to double in the next few decades, with cities becoming dense and congested. Yet 76% of journeys are in single occupancy vehicles, with half of all trips standing at less than 3 miles, an easy distance for cycling.
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