RedCab — global driving service on blockchain technology
Passenger transportation is one of the most numerous industries in the world in terms of the number of consumers and the volume of services provided. Today it is difficult to find a person who at least once in his life did not use a taxi or driving services. At the same time, the demand for such services and the number of companies that provide them is growing. Despite this, the industry of passenger transportation is absolutely centralized, which negatively affects both passengers and drivers.The RedCab platform will be the first decentralized service through which passengers will be able to use the services of taxis or private drivers on the most favorable terms.
RedCab features and benefits
In fact, RedCab is an analogue of Uber, built on blockchain technology. The platform will become a connecting bridge between drivers and passengers in need of transportation. The first will be able to place orders, and the second — to look for the most suitable offers. The main advantages of RedCab include:
- Use of smart contracts. Transactions between passengers and drivers will be carried out automatically using smart contracts, which will reduce the cost of transportation, and therefore the cost of the services themselves.
- Blockchain and tokens. The use of blockchain technology and internal tokens as a means of payment will make the interaction of users more transparent and independent. No more geographical or currency restrictions — the platform will be universal and most convenient for everyone.
- Mobility. The project already has functioning mobile applications for iOS and Android. They will become the main tool for user interaction with the platform.
- Personal assistant Cabbi. In addition to the search system and placing orders, the developers provide the opportunity to use a personal assistant Cabbi, built on AI technology. It will help you to find the necessary route, analyze the situation on the road and much more.
Problems solved by RedCab
RedCab is a platform that will allow to create a new, more technological and adaptive marketplace for passenger services. It will solve a number of current problems that exist in the industry:
- Centralization. To date, within individual countries operates up to 5 different services, which occupy a large part of the entire transportation market. This allows them to dictate their own rules and conditions under which drivers work.
- The lack of a single market. Each country has its own community of carriers, which complicates transportation when moving from one state to another. Also, currency conflicts play a role in the payment of services.
- High commission. Driver services today take away from drivers from 10 to 40% of the profit received from the trip, which significantly increases the bar of payback of services and forms unhealthy competition in the market, depriving its new participants.
- High cost of services. Due to the high Commission for drivers, the total cost of services for passengers is growing, which makes transportation simply unprofitable for customers.
Thus, RedCab will become a universal global platform that will meet the current needs of users and will make passenger transportation more convenient.
We should also consider the methods of generating coins in the RedCab system, which will provide additional income for both passengers and drivers. Two algorithms of Proof of Driving and Proof of Marketing will be used within the platform. The first will allow drivers to earn more tokens for the execution of orders, the number of passed kilometers, etc. Proof of Marketing will allow you to earn and passengers. In fact, this algorithm is the provision of a referral program, where customers must bring new users.
Tokens and RedCab ICO
Within the platform, ERC-20 tokens REDC will be used. With their help it will be possible to pay for transportation services, as well as receive awards in accordance with the protocols of Proof of Driving and Proof of Marketing.The total issue of coins will be 100 000 000 tokens, but 62 000 000 coins will be offered for sale. Their distribution will be carried out in the following proportions:
RedCab has every chance to become a leader in the industry of passenger transportation and driver services. The project offers a number of innovations, including the possibility of earning for drivers and passengers, and an assistant on artificial intelligence, and transparency of transactions. Accordingly, it looks much more attractive than the current representatives of the market of driving services.
Web : https://redcab.io/
Author: HIRUSHA PERERA