A Blockchain-Based Secure Payment System for Vehicle Fuel Filling Station

Abstract

South Asia countries like Bangladesh, India, and Pakistan have a large number of fuel filling stations that use centralized payment transaction systems. In some cases, this fuel filling station uses the hand cash payment system which is not secured and time-consuming. Each transaction takes more than five minutes to process. For that reason, in some cases, customers face the huge hassle of standing in a long line and waiting for their turn. Not only that, there are high possibilities of fraud activities and robbery being occur for large amounts of the payment transaction. To solve this problem we propose a blockchain-based payment transaction method for fuel filling stations. Here we use the decentralized open ledger infrastructure and proof-of-work to approve each transaction block. Every transaction between the customer and the filling station authority is completed through a digital wallet which is fully secured, fast, and transparent. Comparing to the bank payment transaction system our proposed method is decentralized and has low transaction fees applied in every transaction. This transaction process is free from third-party involvement and all transactions are immutable. For that reason no issues of customer trust and safe from fraud activities in a large number of payment transactions. Our proposed payment transaction method can play an important part to handle large amounts of transactions and provide transaction security for increasing the number of fuel filling stations in South Asia's most populated country.