We undertook an ambitious project to develop a cashless blockchain payment system for our festivals ecosystem where cash is a constant liability.
We host numerous large-scale food & drink festivals throughout America. Our ecosystem of events we host, and curator has grown to over 250k visitors each year.
In 2017, we set out to eliminate cash by creating a contactless crypto currency wristband point of sale system. We chose Stellar Blockchain for its speed, low cost, and open-source development.
Lumens concentrated into an area, lights up that area with an illuminance of lux.
Lux is used to measure the amount of light output in a given area – one lux is equal to one lumen per square meter. Lux measures the total “amount” of visible light present and the intensity of the illumination on a surface.
Since inception, our goals have expanded.
Initially, we succeeded in added our native token Payband Coin (PYBC), a Stellar Blockchain token, on Lux Payband for the exchange of good and services. We chose the Stellar blockchain as we have found Stellar to be a superior payments platform for its speed and low transaction cost.
However, similarly to how lumens emit bright light that expands and travels lighting the way by creating a Lux, we too expanded to now build on multiple blockchains providing real world utility. Our goal expanded. We became multi chain builders & LUX Blockchain Validators was created.
December 2018, what started only as tool for our events ecosystem, has expanded to include all Stellar based projects and multi blockchain utility.