Spain To Use Blockchain Technology for Toll Payments

Spain for blockchain

Spain has decided to incorporate Blockchain technology in its transportation platform that deals with toll payments.

According to the news, mobility service payment platform, better known as Bip&Drive is carrying out a Proof of Concept to apply Blockchain technology to the “dynamic rate”  platform of toll prices in Spain.

The objective of this upgrade is to modernize the platform and make it more effective while deepening the use of blockchain technology.

This is part of the Blockchain Car project, which seeks the exploration of the technology in the mobility sector, driven by Caelum Labs.

So far, the company has worked with various Blockchain prototypes in its quest to create the ideal solution for the mobility sector.

This is not surprising, since Bip&Drive allocates 50% of its investment to innovation and development of new solutions.

This solution has been perfected with laboratory tests and is set to be implemented within the toll payment platform used on Spanish highways.

Alex Puig, CEO and founder of Caelum Labs, gave his opinion regarding the use of this technology and the evolution of current mobility:

“It will be affected by technologies such as Blockchain, artificial intelligence or Big Data. The data captured by IoT (Internet of Things) devices will gain relevance to allow the automation, connectivity and integration of data and systems from different service providers.

For his part, the general director of Bip& Drive, JosepJové, declared on this initiative that

“Blockchain is allowing us to be able to develop fully variable pricing models that encourage efficient sustainable and social mobility.

 In a world of alliances and agreements between institutions and corporations, the use of a technology such as Blockchain that provides efficiency for the treatment of operations, verification and reliability of transactions generated between the parties, is really beneficial in all respects.

If the blockchain solution proves to be successful, it would further give credence to the potentials of blockchain technology in the mobility sector. And there is no doubt that it will prove a success considering the work of platforms such as IOTA in the smart city concepts.

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Olowoporoku AdeniyiOlowoporoku Adeniyi

Author: Olowoporoku Adeniyi

cryptocurrency evangelist with five years experience in the blockchain industry

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