IOTA and the Transit Token – turn a Budget into a Revenue Stream
Transit Tokens were issued by a Transit authority to provide Proof of Payment so a user of the service could access a Transit system, get on a bus, a tram, a or a subway car.
The old Transit Token was deposited into a Token Fare machine at the entry point to the transit system.
As with any form of currency, Transit Tokens could be counterfeited and sold as fakes. Toronto Transit Commission’s Token.
Transit Authorities also needed to maintain the Token dispensing machinesthroughout the Transit systems, some hundred, if not thousands of locations. Fare machines generated a huge amount of Capital and Operational cost to purchase, to keep them running. public responds.
At Chameleon Stream we are creating Digital Twins of the Transit Token and distributing them over our Global IoT Network.