VMC developed a new blockchain platform (VMC CORE) in an attempted to develop a fully open and decentralised payment and ticketing platform. The goal was to demonstrate a working platform. VMC was a venture initiated by the Itsavirus team.
Transactions in marketplace are executed via a stable-coin called the VAI token. People use VAI to transact with the network while providers and stakeholders (such as governments or data providers) can share incentives and cooperate. VMC uses the consensus algorithm called Proof of Elapsed Time (PoET) to effectively achieve overall system reliability.
Successfully deployed an MVP, together with Europes largest public transport operators (Deutche Bahn / Arriva). After the MVP we had to shut down the project.
What we did
- Developed a blockchain network, using many components from the Hyperledger Sawtooth project.
- Development back-end- Development check-in hardware terminals- Design & development of the consumer payment application
- Token implementation.