Hyperloop project to be officially called Hyperloop Transportation Technologies

Elon Musk's highly-ambitious Hyperloop project on Thursday announced its official name - Hyperloop Transportation Technologies (HTT).

The Hyperloop project aims to develop an enormous hamster tube transportation system with a hovercraft in it that will transport humans from one place to other at a speed of 800 miles per hour.

The official name for the startup was chosen through a vote on the JumpStartFund website, from a number of options like Tube X, Wrap T, MagTube, The Loop and ScramTram. HTT was selected as it sounds a far more grown up name.

ASCE President Dr. Patricia Galloway, who along with former SpaceX Director of Mission Operations Dr. Marco Villa joined the project last month, said that the project would revolutionize how transportation would be viewed for future travel.

Speaking on the topic, Galloway added, "What is different today is the opportunities that crowdsourcing and crowdfunding offers in getting dreams and innovations off the ground to allow the `Concordes' of the future become reality today."

According to Galloway, the wild concept of Hyperloop is not a dream; it is very much real. He claimed that the feasibility was already done and they were advancing toward conceptual design.