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Using blockchain technology to pay tolls
Written by Davies on / Reading time: 3 minutes.
Blockchain expands across multiple fields and sectors. Tolls are the last one that have transformed their traditional operation to incorporate this technology. Spain is one of the countries that wants to implement blockchain technology for the payment of toll fees. With this implementation, the blockchain would expand its market when it comes to pay tolls, as many people already use cryptocurrencies as a payment method or to invest.
Blockchain technology: the future to pay tolls
Various tests are being carried out to implement blockchain technology in Spanish tolls. Some experts show their satisfaction and consider it to be the future for paying tolls. The founder and CEO of Caelum Labs, Alex Puig, considers the option of "being able to access new open environment of mobility services in an efficient and secure manner" very important.
The Bip&Drive App CEO, Josep Jové, also welcomes these tests and says that "Blockchain is allowing us to be able to fully develop variable pricing models that incentivize a sustainable and efficient social mobility".
Blockchain technology is very versatile and this allows its expansion to any scope, not just a specific one. Several prototypes have already been used with this technology where the car has been the vehicle chosen to perform the tests. The project for which these tests are used is "Blockchain Car". The objective that Caelum Labs seeks with this project is to develop a modern, updated and effective blockchain to use its toll platform. Platform through which tolls can be paid with cryptocurrencies.
What will blockchain mean for toll payment?
The advantages of this technology are many and diverse. Tolls can benefit from this technology in areas such as:
- Immediacy: Payments can be made quickly. You won't have to wait, which means there won't be long queues at the tolls to pay.
- Ease: Blockchain technology is easy to use. You won't have the complexities to make your payments, which also contributes to the immediacy with which you make them.
- Security: Your personal data, as well as the data of the operations or payments you make, will be stored confidentially. It is one of the added values that the blockchain provides, since no one will be able to access your information.
- Innovation: It is an innovative project. More and more areas are implementing this technology because society is now aware of the benefits of using it. No toll used blockchain technology before and it can become a great pioneering project.
DAVIES: A cryptocurrency to pay tolls
This virtual currency allows you to transact easily, immediately and securely. You can easily use its mobile apps as well as its computer app to make transactions. Immediately, because in a few seconds you can send your cryptocurrencies anywhere. Securely, because the operations you perform with your virtual currencies are stored in the DAVIES blockchain.
This company has a fixed objective of helping and providing the society with an alternative banking system that serves as a financial institution each user. In addition, this entity must have strength and be easy to use. DAVIES is made up of a large team with several industry experts. Also, from several companies specialized in marketing, communication, branding and software development.
If you are interested in the idea of entering the world of cryptocurrencies and consider DAVIES a good option, go ahead. DAVIES has local wallets for Mac, Windows and Linux. You can also store your cryptocurrencies on the exchanges on which the company trades.
What do you think of the idea of paying Spanish tolls with cryptocurrency? Would you use them? Do you consider it a good project? It is an advance for society because it could generate great profits.