Long-distance traveling on land is tiring, expensive, and time-consuming for the commuter. For the service provider, be it a national bus or rail company, hardly profitable, or loss-making altogether. Traditional land-based transportation systems are a long way from being 100% efficient, comfortable, and financially viable for all parties involved.
A number of private companies and operators are currently researching and testing out new and potentially revolutionary transport platforms.
Hyperloop technology is one of these pioneering undertakings.
rLoop: Decentralizing Hyperloop technology across the blockchain
Currently in testing and development phase, Hyperloop uses powerful electromagnets to propel a bullet-shaped vehicle (‘pod’) through a vacuum tube, theoretically reaching speeds of up to 670 mph as the environment will not cause friction or turbulence. If all technological and safety challenges are overcome, Hyperloop would indeed revolutionize land-based transportation.
— fj (@gecko39) March 24, 2018
This ICO introduces the rLoop Network, a decentralized community which intends to bring the best engineering minds together through a blockchain platform. This community would work and develop projects, with particular emphasis on Hyperloop technology.
According to the whitepaper, the rLoop Network of Minds connects globally distributed talent and resources with historically localised opportunities in pursuit of radical breakthroughs for the benefit of humanity.
rLoop in figures & quick facts
- Token name – rLoop
- Total amount of tokens issued – 21m
- Total amount of tokens available for sale – 3,750,000
The rLoop token
The company will issue its own currency, the Hyperloop token (rLoop). According to the Whitepaper, (rLoop) “tokens are used to signal support and curate information within rLoop, akin to an ‘upvote’ on reddit.”
Once created, the tokens will be distributed as follows:
- Crowdsale – 84%
- Founders – 5%
- Bounty – 11%
— TechNOVA (@_Tech_NOVA) March 22, 2018
Learn more about the Hyperloop team here.
Social media presence and digital footprint
Here are the numbers for Hyperloop at the time of writing (late-April 2018).
- Twitter – 2,002 followers
- Facebook – 20k followers
The concept of blockchain-based platforms to form engineering communities is not
new, but it’s not heavily explored, either. EDEN is another ICO that offers a similar platform.
rLoop thus enjoys a strong market position, since no other ICO focuses on Hyperloop
technology. This may ensure its survival and viability in the long run.
Consult the rLoop Whitepaper for more information about the platform, additional features and services, etc.
— ownthehyperloop.com (@rLoopTeam) January 1, 2018
The Hyperloop transportation system is a long way from becoming a feasible commercial reality. Many challenges need to be resolved before people can safely be moved at close to the speed of sound across two geographical points.
The rLoop Network might hold the key to such conundrum. For now, this ICO is unique and has laudable intentions.
On the negative side, there is no detail on tokenomics, no information about when the ICO will actually start, etc. Maybe the intention here is to create a proof-of-work concept, with hard details worked out later. The whitepaper does mention a roadmap, but it’s nowhere to be see. The company refers to its milestones as ‘fluid.’