It sounds too good to be true, and it probably is. A year-old video showing the application of vacuum tubes to transportation technology might be the next advancement in just how we get around the world.

The video shows vacuum tubes transporting people across vast stretches of land at more than 3,700 mph. Despite the incredible rate of speed, the technology claims to keep the environment at a 1G level, so riding a vacuum tube would just be like riding in a car. At this speed, one could travel from New York to LA in 45 minutes, or from New York to China in just two hours. If this technology could be implemented, the implications would be stunning.

So what’s the catch? Imagine something goes wrong on a tube when you’re travelling. Not much you can do to help yourself out. According to the ET3 Web site, should a massive leak occur in a section of tube, it will be flooded with air after being isolated from the rest of the network. Apparently, the capsules will slow down and a cushion of air between them will buffer any collisions. “This represents less risk than a wing falling off an airliner flying at 40,000 feet.”

Well that doesn’t sound risky at all! We know all sorts of people who’ve survived a 40,000 feet freefall!

Regardless of the risks involved, it’s still fascinating that there are new advancements in transportation technology being made even in the 21^st century. ET3 describes itself as “Space Travel on Earth” and a silent, inexpensive, safe electric means of travel faster than jets. A linear electric motor uses a magnetic field to accelerate the capsules. Once it reaches top speed, the capsule coasts, using only a small amount of energy to regulate timing and spacing.

To avoid government barriers against implementing the technology, ET3 is seeking to privatize its system. Landowners are offered 5 percent of revenue generated across their land in exchange for perpetual right of way. Should the government grant ROW, it will also receive the 5 percent, plus taxes on profit. As of last month, 230 individuals, companies and institutions had licensed the technology. Licensees can collaborate with one another and build the systems. In fact, the team behind ET3 believes its network will displace up to 90 percent of global transportation 20 years from now.

The ETC concept is reminiscent of Tesla’s conceptual Hyperloop, which CEO Elon Musk described as a “cross between a Concorde, a rail gun and an air hockey table.” According to Musk, the technology could be built for only 10 percent of the cost of California’s high-speed rail project, and could transport passengers from Los Angeles to San Francisco in just 30 minutes.

Is the Hyperloop similar to the ET3? We’ll have to wait until after Tesla’s next big announcement is scheduled to occur.