Milligan Partners and Rufftup.io Join Forces to Launch a Blockchain-Powered Tolling System
Milligan Partners, a leading U.S. tolling company has allied with Ruuftup.io, a distributed ledger technology (DLT) firm to launch Tolling.Network, a tolling solution powered by the Hyperledger Fabric, aimed at enhancing toll interoperability, according to a PR Newswire press release on January 18, 2019.
From Wall Street to Highways
As stated in the press release, in a bid to bring about efficiency, agency-to-agency national interoperability, and cross-border interoperability to the tolling industry, Milligan Partners and Ruuftup.io have come together to create Tolling.Network, a DLT solution based on the Linux Hyperledger Fabric.
Per the team, Tolling.Network is a tolling solution that harnesses blockchain technology to solve the problem of national interoperability which has plagued the U.S. tolling ecosystem for nearly a decade.
Reportedly, the platform uses smart contracts and DLT to make it possible for tolling agencies to seamlessly and directly communicate with each other, a feat the current hub-based model has been unable to achieve. The team has made it clear that all transactions carried out via Tolling.Network, are secured by the highly functional Hyperledger Fabric’s private channels and encryption system.
(Source: Milligan Partners)
The team behind Tolling.Network claim that agencies using the system can customize their business rules for each of the firms they transact with, without having to adhere to “a consortium’s set of guidelines.”
Commenting on the development, Matt Milligan, Managing Partner at Milligan Partners and co-founder of Ruuftop.io reiterated that:
“For nearly a decade, the U.S. toll industry has been struggling to solve the problem of national Interoperability, and we strongly believe the solution is DLT. We also believe that an open-source project is a way to go.”
Milligan also noted that Tolling.Network will also function as a cost-efficient and innovative solution to government agencies.
Blockchain Technology: More than Meets the Eye
Although these are far from the best of times for bitcoin and altcoins regarding the current market conditions, it’s worth noting that cryptoassets and the technology underpinning them are steadily gaining traction in various sectors across the globe, a strong indication that these nascent technologies may have something to offer after all.
On January 13, 2019, BTCManager informed that the National Aeronautics and Space Administration (NASA) was considering integrating DLT into its systems. In related news, on January 21, 2019, reports emerged that crypto-friendly Venezuela was on the verge of getting its first Bitcoin ATM.