Key takeaways:
- On the occasion of the Indian Festival of Holi, Indian Railways will offer NFT train tickets for two designated trains headed towards Delhi between March 20 and April 2.
- Known as the festival of colors, Holi is celebrated with this project, which is driven in part by NFTtrace, a digitalization platform.
On the occasion of the Indian Festival of Holi, Indian Railways will offer nonfungible token (NFT) train tickets for two designated trains headed towards Delhi between March 20 and April 2.
Train tickets in the form of NFTs will be given to passengers on two recently introduced semi-high-speed trains, Tejas Express 82501 and 82502, according to an announcement made by the Indian Railway Catering and Tourism Corporation (IRCTC). In a formal post, IRCTC stated:
“These tickets are not merely digital souvenirs; they are a celebration of the rich cultural tapestry of (the Indian cities of) Lucknow and Delhi.”
By enabling the production of customized NFTs that can be validated on the blockchain by both public and official entities, India hopes to improve tourists’ “journey experiences” using railway tickets.
Known as the festival of colors, Holi is celebrated with this project, which is driven in part by NFTtrace, a digitalization platform.
To facilitate the traceability process, the company will use smart contracts to manage the records of train ticket purchases on the Hyperledger blockchain.
Daily ticket sales on IRCTC exceed 1.2 million, which would lead to a notable rise in NFT acceptance should the idea be implemented for all trains in the region. Digitizing tickets using NFTs will avoid forgeries and misplacements, a common problem.
The country has disclosed that Hyperledger Fabric, Hyperledger Sawtooth, and Ethereum are the three main blockchain systems India uses to produce its goods.
On March 6, it was disclosed that the National Informatics Centre, an agency of the Indian government, owns and operates five blockchains that have around eight million verified documents issued by the government.
The certificate chain, document chain, medication logistics chain, judiciary chain, and property chain are the five blockchain products presently used in India.
