Rubix and NLDC Agree to Target Global Tollgate Management Opportunity
St. Paul, Minnesota--(Newsfile Corp. - February 20, 2022) - Rubix Blockchain Pte Ltd (Rubix), and Northern Lakes Data Corp. USA (NLDC) are collaborating to target global Tollgate Management through decentralized online ecosystem based on the blockchain.
According to KC Reddy, founder & chief architect of Rubix, "The promise of Web3 will now be a reality in the field of electronic toll collections by offering consumers and toll agencies worldwide - a superior method of transacting tolling business using the power of Rubix green blockchain technology." Per a 2019 toll benchmarking study by KPMG, toll operators spend up to 14.6% of their operating revenues to collect toll charges using traditional methods. In fact, toll agencies can only hope to reduce those costs down to 10% of operating revenues by using the most efficient technologies in use today. By using Rubix and NLDC jointly developed technology, the operating costs could be reduced to 1% or lower while offering a superior experience to tolling customers and tolling agencies alike.
Per Ashok Sinha, the founder and CEO of NLDC "There are several exciting tolling applications in various stages of planning and implementation, which combine Rubix blockchain technology with NLDC industry expertise to disrupt the tolling industry as we know it." He has confirmed that the projects in the pipeline include a revenue leakage remediation and fraud prevention application for a large south Asian country, as well as Web3 tolling applications based on attaining real-time equilibrium between supply and demand and other efficient distributed revenue charging collecting methodologies. These applications are intended for deployment in the USA and the Middle East.
The companies have a shared vision - "Web3/crypto has the potential to bring out the best in capitalism and democracy by empowering the stakeholders in the eco-system through participative capitalism."
About NLDC: A privately owned Minnesota company (http://www.nldc.net) dedicated to delivering systems integration and custom back-office solutions for the electronic toll collections industry worldwide for almost three decades. Past innovations include designing Customer Relationship Management software for use in Call Center operations which respond to user inquiries "at the speed of the call". Recent innovations include the use of cloud based Artificial Intelligence and Machine Learning to extract vehicle license plate information from video images accurately and to deliver these services cost effectively to their customers using the SaaS model.
About Rubix Blockchain Pte Ltd: Rubix Network is a Layer 1 blockchain protocol for peer-to-peer data transfer & transactions. Rubix is a Web scale protocol with Zero transaction fees, minimal infrastructure costs, high security & privacy. With 0.00000174 kWh per transaction, Rubix has one of the lowest energy consumptions among all computing networks. Rubix software can be freely downloaded on any PC or virtual machine. The Rubix community has more than 12,500 validators. https://rubix.net/
Company Name:- Rubix Blockchain Pte Ltd
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SOURCE Vehement Media Private Limited