It was recently revealed that £235 million is left unused on London’s transport card known as Oyster.
There are many different reasons for the huge amount of money left on these prepaid cards, but one of the biggest is tourists.
London is a major tourist destination and so each year the millions of people who visit inevitably add credits onto the prepaid card.
When they leave the city at the end of their holiday, the money on the prepaid card stays.
This shows just one of the problems that commuters face.
Brisk Pass is a new decentralised transport solution which is aiming to address challenges like these. Here we’ll look at five of the benefits of the Brisk Pass solution, as it is currently being proposed.
#1 Cross Border Functionality
When tourist and business travellers come to London – or any other city – they don’t just face the problem of prepaid balances. They also have the problem of changing funds into the local currency. This can result in costly and time consuming currency exchanges. Using Brisk Pass this would not be necessary as all payments could be made through the same app no matter which country they were in. This thanks to the fact that Brisk Pass has its own cryptocurrency called Brisk.
#2 Pay For Products And Services
When travelling you often want to purchase additional products and services. These could be a cup of coffee, the daily newspaper, a snack or more. Typically, these can’t be made using whichever transport card you are using. With Brisk Pass this would in fact be possible, providing a convienent way to make payments.
#3 Usability Across Transport Solutions
Prepaid travel cards typically work when you are taking a bus or train, but what if you want to use a ride sharing app? This means that you need more than one way to pay for transport depending on the form that it takes. With Brisk Pass the idea would be to provide a universal solution that works across different types of transport.
#4 No Prepaid Balance Limitations
As noted in the introduction commuters lose a huge amount of funds each year due to prepaid balances. This can come in the form of no longer being able to use the prepaid balance because it is only available in that city or having your prepaid balance expire. With Brisk Pass it would be a pay as you go model, avoiding these problems.
#5 Reduced Environmental Impact
Because of the number of journey’s commuters make the environmental impact of paper tickets and plastic prepaid cards can be huge. Using an app based solution like Brisk Pass helps to avoid these problems.
Brisk tokens (BSK) will be distributed in an Initial Coin Offering. In total there will be 100 billion BSK tokens created, with 70 billion being made available during the Initial Coin Offering. The funds will raised will be primarily used for development, implementation and scaling of the Brisk Pass platform and for client acquisition and joint ventures.
BriskPass Website: https://www.briskpass.com/
BriskPass Whitepaper: https://www.briskpass.com/briskpass-whitepaper.pdf