Question

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?

Answer 1

The use of blockchain in storing this data would help reduce potential risks: by storing large amounts of data without any delays.

What is a blockchain?

A blockchain can be defined as a digital, financial system that is used to record and maintain transactions that are made in bitcoin, non-fungible tokens or other cryptocurrencies across several computer systems that are interconnected in a peer-to-peer network.

The types of blockchain

In Computer science, there are four (4) main types of blockchain and these include:

• Public blockchains

• Hybrid blockchains

• Private (or Managed) blockchains

• Consortium blockchains

In this context, the use of blockchain in storing the data generated or collected would help reduce potential risks and financial theft by storing large amounts of these data without any delays.

Read more on blockchain here: brainly.com/question/25700270