03/15/2016 11:39 EDT | Updated 03/16/2016 01:59 EDT

Canadian Tech Company Designing A Pod That Travels 600 KM Per Hour

A Canadian tech startup has a dream of transporting people to different destinations at almost supersonic speeds and it seems like they are well on their way.

Transpod claims their Mark 1 Pod will cut down a six-hour trip to just thirty minutes. The technology is known as Hyperloop.

Billionaire inventor Elon Musk was the first to propose the idea in 2012 and laid out the basics for the system. A low-pressure tube where pods would transport people or cargo at speeds of almost 600km/hour, according to the Toronto Star.

The Toronto-based Transpod was one of over 120 companies who participated in Musk's Hyperloop competition back in February.

MIT student engineers won the competition to transform SpaceX and Tesla Motors idea into a design for a Hyperloop to move pods of people at high speed.

Watch the video above to find out when Hyperloop could become a reality.

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