OSTα3 POC update #2
TransitToken, an OST.com POC — Halfway update
What is TransitToken?
TransitToken, an OSTa3 POC, is focused on creating a superior rider experience by tokenizing the subway system in the City of Simpleville. Rather than using antiquated paper tickets and physical tokens, subway riders will be given the opportunity to purchase TransitToken to ride the subway. To learn more about the scope of our project please check out first update post here!
Halfway Update:
In week one of OSTa3 the team focused on developing and finalizing our concept. Week 2 has been all about development! We have launched our website, transittoken.wixsite.com/simpleville, and our developer began working in OST KITα.
Week 2 Progress Summary:
· TransitToken Website launched
· Finalized rewards system
· Establish TransitToken Economy in OST KITα
· Effortlessly minted over 1000 Transit Tokens!
· Investigating QR code integration for scanning and transactions
· Created test users to begin simulation transactions
What did we learn and overcome?
This week our developer had that opportunity to begin using OST KITα. So far, issues have been minimal, and our developer is making strides in designing essential TransitToken transactions. Our challenges this week have been primarily centered around the Wix platform and in the integration of QR Codes.
Wix: The Wix platform is awesome! However, we have identified the platform does have limitations. For example, there is no option to delete a page that is no longer created. However, for the time being we have found a solution in hiding pages that are no longer created.
QR Codes: Each QR code that we plan to scan represents a specific amount of tokens the user has purchased — we have been unable to discover a way to link a static QR code to a particular users wallet in OSTα.
What are we planning for the next week?
Week 3 of OSTα will bring major progress to the TransitToken POC. We plan to finalize our website, complete back end coding, simulate user transactions, and kickoff the development of our YouTube Video! We are very excited with the progress made so far and look forward to seeing our vision realized over the next 2 weeks.
Why did you decide to register for OST Alpha Phase III?
First and foremost, the TransitToken team is made up of long term and passionate OST supporters. We are confident that tokenization is primed to disrupt major based industries. We believe that tokenizing transit is a great idea and that transit systems should adopt a token economy to increase ridership, make the user experience more interactive and reduce emissions by having less gas powered cars on the road. There are many different use cases for transit that we’ve thought of and have only hit the tip of the iceberg with TransitToken, only focusing on tokenizing the subway system of a fantasy city. We knew we had the right team to bring our vision to life so we challenged ourselves by registering for OST Alpha Phase III.
What is the goal of our project?
The goal of our POC is to prove that a token model can significantly improve the mass transit system by providing key benefits such as:
· Pay As You Go Model
· Tokenized Rewards System
· Reduced Fares Compared to Traditional Methods
· No Physical Tokens or Cash
· Transfer Tokens to Friends and Family
· Control Over Your Digital Wallet
· Complete Transaction History
· Environment Friendly Solution
What is the current progress of our team’s OST Alpha Phase III development?
As mentioned previously, our team has made significant progress this week in both the development of our website and utilization of OSTKIT. Thus far working with OSTKIT has been simple! Our economy was up and running within minutes and our developer is already working with the API to design essential transactions for our economy.