Hyperloop: the transport of tomorrow will be via the blockchain

infoslink (68)in #blockchain • 6 years ago

Hyperloop Transportation Technologiesannounced its new futuristic method of transportation using Blockchain technology, according to an ETHNews reportMay 5th. Bibop Gresta, president of Hyperloop Transportation Technologies revealed the company's project in an interview with a well-known news media.

Hyperloop and the Blockchain

According to Bibop Gresta's statement, Hyperloop will resort to a smart contract scheduled deployed in the Blockchain to allow travelers to pay for their journey. Blockchain technology will eventually be used in the first phase of a Hyperloop system. It would be possible to reserve places in advance with any currency.

Bearing in mind that most governments only accept payments in fiduciary currencies, the global payment method proposed by Hyperloop would be a key benefit - especially for cross-border transport.

Travelers will also be able to pay with the cryptocurrency of the platform.

With a multidisciplinary team of more than 800 engineers from 42 different countries, Hyperloop TT is working on the deployment of Phase 1 of the Hyperloop journey. Vehicles in the tube move "from point A to point B" and then from point "B" to point A. "

Hyperloop technology

SpaceX aerospace firm published an article describing a new mode of transport in August 2013, the Hyperloop. Technology is emerging as a "quick and inexpensive" means of facilitating the free flow of people and goods. Based on the principle of magnetic levitation, travelers will be able to move at full speed, more than 700 miles (about 1100 kilometers per hour), sitting on floating pods inside a tube. closed at low pressure.

The vehicles navigating in these tubes rest on an "air cushion" resembling those that cover the surfaces of air hockey tables. It is an underground mode of transport still being deployed.

The speed of the Hyperloop is a significant feature. The tube air inside which the vehicles float is evacuated. For any moving object, a frictional force develops at the point of contact between the air and the connecting surface, which is of a negative (opposite) nature.

Development and launch program

Hyperloop technology has been tested by many companies around the world and the first operational prototype is expected to come into service in 2021. The project links Mumbai to Pune, New York to Washington DC, Kansas City to St Louis and Vijayawada to Amravati.

A 10km commercial model serving Dubai and Abu Dhabi is under development right now.

RLOOP, another company, is exploiting Blockchain technology with the same goals as Hyperloop TT.

Brent Lessard, project manager at rLoop, said :

At rLoop, we have successfully mobilized, organized and fostered a globally distributed community that wants to invest its time and resources for radical change. The logical progression for our team rests on the Blockchain, and Hyperloop is only in its infancy.

What do you think of the new mode of transport using Blockchain technology suggested by Hyperloop Transportation Technologies? Tell us your opinion in the comments below.

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