System and method for toll transactions utilizing a distributed ledger

An electronic toll data collection management system, comprising:

• a plurality of nodes, wherein at least one of the plurality of nodes is a toll collection point, wherein the toll collection point comprises:
• a computing system;
• and
• a camera, wherein the camera is configured to capture an image of a vehicle as it passes through the toll collection point, wherein the computing system is configured to selectively flag one or more images;
• wherein each of the plurality of nodes comprises a processor, a memory unit, and a bus, wherein each of the plurality of nodes is 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 and linked to a previous block by a hash value of the previous block, wherein a consensus must be reached to update the distributed ledger with the addition of a new block;
• parse through the blockchain to locate the block containing the data from one of the one or more images flagged by the computing system, de-encrypt the block, and extract the data;
• perform automated vehicle identification protocols on the extracted data to determine a license plate number of the vehicle in the one of the one or more images flagged by the computing system;
• and
• encrypt a new block indicating a debit to an account of an operator of the vehicle, wherein the account is identifiable by the license plate number.