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System and Method for Toll Transactions Utilizing a Distributed Ledger

  • US 20190180519A1
  • Filed: 12/09/2017
  • Published: 06/13/2019
  • Est. Priority Date: 12/09/2017
  • Status: Active Grant
First Claim
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1. An electronic toll data collection management system, comprising:

  • a plurality of nodes, wherein the plurality of nodes comprise a processor, a memory unit, and a bus, wherein the plurality of nodes are connected to each other over a communication network, wherein each of the plurality of nodes has access to a copy of a distributed ledger, wherein the processor of each of the plurality of nodes is configured to;

    utilize blockchain protocols to verify and record a transaction occurring within the distributed ledger, wherein data is recorded as a block, wherein a blockchain is formed by the addition of blocks, wherein each block is encrypted by a mathematical formula that produces a hash value, wherein each block is linked to a previous block by the hash value of the previous block, wherein a consensus must be reached to update the distributed ledger with the addition of a new block.

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