Blockchain, one of the biggest buzzwords, often overhyped and even more often just a fancy solution looking for a problem to solve. VMC.AI is fighting the odds and showing the world how blockchain technology can deliver a lot of value to public transport operators and its passengers.
The future of human mobility
VMC advocates the right for people to move freely in cities and around the globe. They aspire to address the flaws in the current transport systems. Flaws we are getting used to, and therefore not seeing anymore.
Even in San Fransisco, I saw the same problems I experienced everywhere in the world. I could not believe it…How can we be inside of all those offices creating amazing tech solutions and outside we’re still stuck in traffic? Wasting our time. – Jochem Verheul, Founder & CEO, VMC.AI
In cities, we are not using our transport means effectively. Leaving us stuck in congestions everywhere we go. On the contrary, people in remote areas find it difficult to get access to the means of (public) transport.
What if we could have one app that would grant us access to cost-effective and quick transport everywhere we are? Pretty cool right? It would be even cooler if we could also own our data in this particular app; now that we finally understand the risk of keeping our data stored centrally, case in point is the Cambridge Analytica scandal.
First rides are on the house
You can pay for the bus ride using the VMC transport token called VAI. Good to know is that the first rides are for free; Arriva blockchain bus is buying a lot of tokens and distributing it for free to its first users.
How it works:
10:30 Check-in ✔ at location x
11:10 check-out ✔ at location y
Basically, nothing much changes in comparison to the current modus operandi at Arriva (and many more public transport systems worldwide). It is when we dive deeper into the system we’ll discover the value this system will unlock.
Value for passenger
Passengers would no longer have to worry about losing their travel chip cards. In addition to this, other key benefits of using VMC for any user includes;
- Ease of charging your travel product – through buying tokens online.
- Peer-to-peer token sharing with other users. Imagine you are traveling with someone who forgot to charge his/her travel product, you could easily help.
- Control over your data – Choose to save a verified record of business trips or travel completely anonymous.
Value for public transport
- Secure payment system
- An immutable record of bus rides
VMC GO will serve as a platform for passengers, public transport, and third parties to share information, exchange value and keep records.
The VMC GO phase consists of three implementation elements:
- VMC blockchain bus – Setting up of the nodes
- Smart contracts
- VMC Mobile application – Which will allow users to check their token balance, pay for their ride and see their ride history.
Hence, the VMC GO app is the first mobile app ever built on the hyper ledger fabric and will be available for Android and iOS soon.
Defining the future of human mobility
The blockchain bus provides the first-case usage of blockchain technology in a new era of human mobility. VMC.AI is building the technologies to enable public transport on-demand, ride-sharing and creating a structure for autonomous vehicles thereby addressing the needs of people in congested or remote areas around the globe.
The VMC.AI project is not owned or controlled by a central authority. Its ownership is decentralized through security tokens which means that anyone will be able to trade and hold tokens representing the project’s ownership.