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.
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.