Global technology and consulting company Indra has added a new capability to its payment system for road tolls: the recording of transactions on a blockchain. Developed as part of the EU-funded CRITICAL-CHAINS project, this capability will increase the transparency and traceability of toll transactions. The pilot solution is being deployed on a highway in Mexico.
Fraud and cyberattacks on road toll systems affect both road owners and users. For road users, they mainly come in the form of fraudulent emails claiming recipients failed to pay for using a toll road. However, road owners are impacted by a wider range of scams, including the use of counterfeit fuel and credit cards to pay tolls, hacked toll systems and the failure of concessionaires to record all toll payments. The CRITICAL-CHAINS partner is offering a solution to this problem.
Multiple benefits
To cover all parties, back office toll systems should be able to ensure transactional integrity, clearing between operators, payments to the central entity, financial auditing and fraud control. According to a news item posted on Indra’s website, incorporating blockchain into related processes and transactions “allows to reduce conflicts between the different participants due to possible disagreements, protects against possible cyber-attacks, and it also facilitates settlement and auditing tasks.”
Continue reading: https://cordis.europa.eu/article/id/435515-blockchain-makes-road-tolls-more-secure
Fraud and cyberattacks on road toll systems affect both road owners and users. For road users, they mainly come in the form of fraudulent emails claiming recipients failed to pay for using a toll road. However, road owners are impacted by a wider range of scams, including the use of counterfeit fuel and credit cards to pay tolls, hacked toll systems and the failure of concessionaires to record all toll payments. The CRITICAL-CHAINS partner is offering a solution to this problem.
Multiple benefits
To cover all parties, back office toll systems should be able to ensure transactional integrity, clearing between operators, payments to the central entity, financial auditing and fraud control. According to a news item posted on Indra’s website, incorporating blockchain into related processes and transactions “allows to reduce conflicts between the different participants due to possible disagreements, protects against possible cyber-attacks, and it also facilitates settlement and auditing tasks.”
Continue reading: https://cordis.europa.eu/article/id/435515-blockchain-makes-road-tolls-more-secure
