DRIFE - Decentralized Navigation Platform Supported by Blockchain

donaa (6)in #bitcoin • 6 years ago

Hello Everyone, I will introduce the project about DRIFE, If you are willing to join the DRIFE project, let's look at the following review:

What is DRIFE ?

DRIFE is a decentralized ride-hailing platform powered by blockchain with the intent of empowering value creators within our ecosystem – these include the drivers, commuters, and community developers. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions. Our ride-hailing platform has created a new paradigm for the ride-hailing industry. We are the first platform in this niche to express the full features of the decentralized ride-hailing economy. With the power of the Blockchain technology, the DRIFE platform strives to bring a new paradigm to the ride-hailing platform and solve the horde of issues that have emerged from the current model of centralized business. The growth of the platform not only contributes to the objective of DRIFE but also enhance the overall value provided to all the stakeholders concerned like driver’s income, commuters fare, cybersecurity and transparent governance.

Why DRIFE

In less than a decade, over 1600+ cryptocurrency platforms built on the premise of the blockchain technology now exist. New startup enterprises, great innovative technologies, and improved scalability features from the original blockchain have elicited awe. However, more than 90% of these projects lack practical application or utility. Most of them are created as sub-chains or sidechains leveraging the power of more efficient systems. Despite the opportunities being accorded by the blockchain enterprise, adoption for most of these platforms is still out of reach because:

“Not many real-world use cases have been fully disrupted”

Problems of Current Ride Hailing Platforms

CENTRALIZED
UNSUSTAINABLE DRIVER INCOME
LACK OF LOYALTY FROM
Commuters
PRICE SURGES
LACK OF A 3-WAY INCENTIVIZED ECONOMY
SURGE IMPACT

Unsustainable Driver Income

Drivers confront a noteworthy investment cost when they purchase a new vehicle in the hopes that the new avenues of opportunity will make it easy for them to repay the cost at a profitable margin in the shortest period possible.

When the incumbent firms began operations, drivers saw the benefits from these platforms and expected the good days to continue over a long period. When these expectations rose, the market became oversaturated with drivers, who are all left with greatly reduced income and must compete frantically for every ride, in a market overrun by competition.
The initial benefits were made possible because the costs were borne by the firms that again comes back to the issue of high burn rate of investments.

Our Solution

Ride Hailing on a Decentralized Blockchain

Applying Blockchain technology in the local transportation or taxi industry is only a continuation of an evolution that has gone on for centuries. Everything is processed through dApps using smart contracts to establish trustlessness and each transaction becomes a part of the blockchain – an immutable record.

A few platforms have attempted the development of ridesharing using the blockchain and while this is applauded, no single entity exists in the decentralized world with an allinclusive incentivized product for value creators of the ridehailing industry.

Decentralized Platform

Decentralization aims at shifting the focus from a central authority to the driver partners. With the power of the Blockchain technology, the DRIFE platform strives to bring a new paradigm to the ride-sharing scenario and solve the horde of issues that have emerged from the current model of centralized business. The growth of the platform not only contributes to the objective of DRIFE but also enhance the overall value provided to all the stakeholders concerned like driver's income, rider's fare, cybersecurity and transparent governance.

Our Architecture: The GET model

Built over the EOS blockchain, our architecture leverages three unique properties of the parent chain:

Decentralized Technology and Economics
Staking
Economic Model
Speed and High Performance

The Ecosystem: VALUE CREATORS & EXTRACTORS
A 3-Way Incentive Ecosystem

Our platform is designed to reward contributors with incentives towards the development of the ecosystem. Through the DRIFE architecture, we are able to completely offer the best service practice to enable all stakeholders in our economy to derive maximum utility satisfaction from our product.

Drivers

It empowers the drivers in our ecosystem to receive the complete fare paid by the passengers because of our 'no commission’ feature.

Stable and sustainable Income
No Commission pay-out
Network Building and passive income generation.

Commuters

It empowers the rider through our dApp to have the best experiences per ride both in terms of platform multiple-option
features and during their journey.

Economical Fares
Safety
A preferred list of Drivers
Community Support

Developers

It incentivizes developers to create useful tools and features to expand the platform’s economy.

Bug and security bounties incentives.

Our Tokenomics

Drife token, DRF is a utility token that will also function as a currency within our platform. It will be used to execute ride payments, access loyalty rewards and staking functions on our platform.

Blockchain type: EOS
ICO Token Type: ETH ERC-20 Compliant Token
Token symbol: DRF
Total supply: 325 Million DRF tokens
Economic model: 1-3% annual Inflation (depends on decision-making by the community)
Whitelist: Yes
KYC: Yes

ICO Model

DRF tokens will be pegged at the value of $0.25 USD 50% of token supply in ICO for sale: 162,500,000 DRF

Soft cap: 32,500,000 DRF (20%).
Hard cap: 162,500,000 DRF (100%)

After the ICO these utility tokens are not just restricted for services but also sold on exchanges. The Driver and rider bonus tokens are to encourage loyalty from DRIFE customers, this will be distributed in form of free miles to the early adopter of DRIFE APP for commuting, and this is given to both rider and drivers for adding new people to their network

TOKEN SALE WILL OCCUR IN THREE STAGES:

Presale: Discount Rate-20%
Total No. of DRF to be sold => 32.5 Million

Main ICO I: Discount Rate-15%
Total No. of DRF to be sold => 65 Million

Main ICO II: Discount Rate-10%
Total No. of DRF to be sold => 65 Million

Token Allocation

Overall, 325,000,000 tokens will be released. The hard cap of the tokens for sale is 60%. The remaining 50% of total emitted tokens will be divided amongst the Private sale (10%) Social Incentive (10%), Development pool (5%), Team members (5%) founder (10%), bounties and Airdrop (3%), Referral, Rewards and Bonus-5%, Advisory (2%)