On the 18th of January 2019, PR Newswire issued a press release, stating that a popular US Tolling company known as Milligan Partners has partnered with Rufftup.io; a distributed ledger technology company, in unveiling Tolling.Network.
According to the release, the newly unveiled tolling company is supported by Hyperledger Fabric and is designed to improve toll operations among both parties.
The press release further stated that due to a conscious effort towards ensuring efficiency, interagency operations both within the national circle and across the country to the tolling industry, resulted in both firms combining resources to create Tolling.Network, which offers a unique blockchain based solution.
According to the team, Tolling.Network offers an incredible solution that utilizes Blockchain technology in solving the challenges of national interoperability that has affected the tolling ecosystem of the United States for almost 10 years.
They went to state that the technology makes use of smart contracts as well as Distributed Ledger Technology to make it easy for tolling agencies to directly and flawlessly communicate with each partner in the team. This feat has indeed defied what the present model could not achieve.
Every transaction that is carried out on the Tolling.Network, are protected by both the encryption system and the advanced highly functional private channels.
This delectable team involved in the Tolling.Network project asserts that agencies that are utilizing the platform have the choice to tailor or modify their business policies for every company they do business with, without necessarily abiding by the rules of a particular syndicate.
In his response to this development, Matt Milligan, co-founder of Rufftup.io and Managing Partner at Milligan Partners stated that:
“For close to ten years, the toll industry in the United States has been trying it’s best in bringing solutions to the challenges that have bedevilled national interoperability, and there is no doubt that the solution lies in Distributed Ledger Technology (DLT). We are also certain that an open-source scheme is a good idea towards solving this problem.’’
He also pointed out that Tolling.Network will also serve as an affordable and groundbreaking solution to most government bodies.
This development is coming in the wake of bitcoin’s and the entire cryptocurrency industry’s lackluster performance in 2018. Technologies like Tolling.Network highlight the impact and possible use case that blockchain technology can have in many industries. This, in fact, is a strong indication that these newly developed technologies would have a lot of benefits in store.
An example of this is the BTC Manager’s announcement that the National Aeronautics and Space Administration (NASA) was really looking at incorporating Distributed Ledger Technology (DLT) into its operations. Also on the 21st January 2019, a news report said that Venezuela, a country with its own national cryptocurrency will be launching its own blockchain backed ATM card.
The possibilities of blockchain tech are quite limitless and can serve to further improve lives, solve previously impossible challenges and help industries attain new heights.
Now that the “blockchain everything” hype has passed, it’s down to organisations like Hyperledger to unify enterprise IT and delimit what actually belongs within blockchain’s borders. Marta Piekarska, Hyperledger’s director of ecosystem, traces the development of blockchain technology and the progress made so far
About 10 years ago, Satoshi Nakamoto proved that Distributed Ledger Technology (DLT), could be used in the space of cryptocurrencies if combined with a strong consensus mechanism and public availability.
However, as time passed, more and more enterprises– from supply chain to humanitarian aid– have expressed interest in applying this concept to their fields. In these instances, it became clear having an entirely open system wasn’t entirely necessary.
If we consider solutions in healthcare, for instance, only a doctor should be allowed to enter new data on patients health, and only that person and their doctors should be permitted to view said information. However, it is still beneficial to have a system that is not relying on a trusted third party, is immutable and that provides a unified view to all participants.
This is why various new “levels” have been developed under the blockchain umbrella. The two main differentiators come from the permissioning model and the visibility of data.
We have permissionless: public solutions where anyone can join the network, submit information and view what is happening on it. Then, we have the middle ground: permissioned public systems where only certain parties can submit information, but where anyone can view it.
The Linux Foundation’s Hyperledger Project has a singular focus on the blockchain, but this morning it announced a framework for building supply chain projects where it didn’t want blockchain stealing the show.
In fact, the foundation is careful to point out that this project is not specifically about the blockchain, so much as providing the building blocks for a broader view of solving supply chain digitization issues. As it describes in a blog post announcing the project, it is neither an application nor a blockchain project, per se. So what is it?
“Grid is an ecosystem of technologies, frameworks and libraries that work together, letting application developers make the choice as to which components are most appropriate for their industry or market model.”
Hyperledger doesn’t want to get locked down by jargon or preconceived notions of what these projects should look like. It wants to provide developers with a set of tools and libraries and let them loose to come up with ideas and build applications specific to their industry requirements.
Primary contributors to the project to this point have been Cargill, Intel and Bitwise IO.
Supply chain has been a major early use case for distributed ledger applications in the enterprise. In fact, earlier today we covered an announcement from Citizens Reserve, a startup building a Supply Chain as a Service on the blockchain. IBM has been working on several supply chain uses cases, including diamond tracking and food supply protection.
But the distributed ledger idea is so new both for supply chain and the enterprise in general that developers are still very much finding their way. By providing a flexible, open-source framework, The Linux Foundation is giving developers an open option and trying to provide a flexible foundation to build applications as this all shakes out.