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A software giant is enabling a city with smart parking, using real-time information captured by sensors on the vehicle and sensors in parking lots. when the vehicle leaves, data can be shared between the vehicle and parking system, which will prompt a payment from the driver’s payment device stored in their account. how would the use of blockchain to store this data help reduce potential risks?

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okpalawalter8

Blockchain's capacity to store vast amounts of data with zero latency would be very helpful for disaster preparedness.

This is further explained below.

What is smart parking?

Generally, How does Smart Parking work? For the purpose of determining the level of occupancy in a parking lot, Smart Parking makes use of a variety of sensing devices, including cameras, equipment for counting vehicles, sensors embedded in the pavement, and others. In order to do real-time analysis of the collected data and upload it to the database, more sophisticated sensing systems are being developed.

In conclusion, Blockchain's ability to store massive volumes of data without lag time would greatly benefit risk mitigation efforts.

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