Category: NFT News

All aboard as Indian Railways rolls out NFT train tickets — TradingView News

Indian Railways will provide nonfungible token (NFT) train tickets for two specific Delhi-bound trains between March 20th and April 2nd on the occasion of the Hindu festival, Holi. 

The Indian Railway Catering and Tourism Corporation (IRCTC) announced that passengers of two newly launched semi-high-speed trains — Tejas Express 82501 and 82502 — would receive train tickets in the form of NFTs.

IRCTC stated in an official post:

“These tickets are not merely digital souvenirs; they are a celebration of the rich cultural tapestry of (the Indian cities of) Lucknow and Delhi.”

With NFT train tickets, India aims to enhance the “journey experiences” of travelers by allowing the creation of personalized NFTs that can be verified on the blockchain by authorities and the public.

Cointelegraph

The initiative pays tribute to the festival of Holi, known as the festival of colors, and is co-powered by a digitization platform, NFTtrace.

The company will help maintain the records of train ticket purchases on the Hyperledger blockchain and employ smart contracts to govern the traceability process.

Cointelegraph

Over 1.2 million tickets are booked on IRCTC on a daily basis, which could significantly increase NFT adoption if the initiative goes mainstream in the region for all trains. Digitizing tickets with NFTs will prevent the prevalent issue of forgery and misplacements.

NFTtrace has yet to respond to Cointelegraph’s request for comment.


Source link

Discover more from BIPNs

Subscribe to get the latest posts to your email.

banner image

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Share this article:

Share your opinion. And leave a reply within the comments from below.

banner image

Discover more from BIPNs

Subscribe to get the latest posts to your email.