Blockchain Bus

Blockchain technology in public transport

We developed a new blockchain platform (VMC CORE) for VMC to create a fully open and decentralized payment and ticketing platform. The goal was to demonstrate a working platform with Europe's largest public transport company.

WHAT WE DID

Concept Development

Tokenomics

UI/UX

Blockchain Development

Technical Realization

We initiated this project in 2017 when blockchain technology was less advanced than it is now. We needed to build a lot from scratch to have an application that fit our requirements. This is why we developed a new blockchain platform (VMC CORE) using many components from the Hyperledger Sawtooth project.

Stable token

Transactions on the network were executed via a stablecoin called the VAI token. People used VAI to transact with the network, while providers and stakeholders (such as governments or data providers) could share incentives and cooperate. VAI was pegged to the Euro.

PoET

We used the consensus algorithm called Proof of Elapsed Time (PoET) to achieve overall system reliability effectively. The result was a private network that supported super-fast transactions (when you're on the bus, you don't want to wait for validations!) and offered high security.

3D printed hardware

Check-in terminals in public transport are expensive, very expensive. We designed our hardware and 3D printed the casing to allow for maximum adoption. The vision was that anyone could get started and use easy digital payments.

Current status

We successfully deployed an MVP with Europe's largest public transport x (Deutsche Bahn / Arriva).
Unfortunately, after the MVP, we had to shut down the project.