NEED A RIDE-REDCAB

INTRODUCTION
Everyday billions of people are relying on the car transportation to go to work, school, visit friends, family and attending events. What are their priorities when choosing a transportation method? Well, they differ from individual to individual. While developing their business idea, RedCab team had a goal to study the market in depth and to understand the different types of needs. However RedCab’s aim was not only to personalize the riders experience but to increase the benefits for all stakeholders in the process.

ABOUT REDCAB

RedCab is a decentralized blockchain based platform aimed at Introducing advanced technology into the transportation industry.RedCab is a Company incorporated to offer a centralized peer to peer transport solution throughout the process using blockchain technology and Token REDC to be used as a utility token for everyday transactions that creates massive demand for limited inventory

PROBLEM FACED

While reading the project description then you may ask yourself? Do we need yet another car-hailing service? And the answer is definitely YES we need it, IF it is a progress for the industry.

Then you might ask yourself, WHY is RedCab a progress for the car-hailing industry?

To answer this question, we need to understand the problem, that currently the car-hailing service is a centralized system where the owner company is taking a cut from the fare. The cuts from the fare are varying between 20–40%. To resolve this, RedCab has removed the cut. The driver will get the full 100% of the fare.

Nevertheless the company will be able to make profit. The concept is resembling a social network website. Users are benefiting from a free service (in our case cut-free service), however the profit is made by mining and analyzing customer data and provide targeted/ personalized ads (Geo-Ads). This kind of ads will increase the conversion rate and reduce the marketing costs for the local advertisers. This way we have 4 stakeholders who are better off by using the RedCab Service. Passengers save money, drivers get higher profit, advertisers reduce marketing costs and get more conversions and RedCab company has a profit which will be used for further development and support of other blockchain startups.

The second problem which we currently observe in the market is the price variation that depends on the network load. Customers need to pay much higher prices during peak-hours. This situation seems to be a logical outcome which is based of the basic economic theory of supply and demand where the driver will get an incentive in fiat to accept more rides. Blockchain can help to reduce the price fluctuations by offering the driver an incentive in tokens.

SOLUTION

This is the basic idea of Proof-of-Driving: REDC tokens will be generated and distributed to the drivers. The token generation rate will be adjusted according to the load and the number of network participants. In Proof-of-Driving, we can observe the same basic economic concept of supply and demand transferred to the blockchain system. This way the customer will save money, and the driver will still have the incentive to accept more rides.

How does RedCab Solution work ?

RedCab is a decentralized transportation solution for individuals using Blockchain technology for efficient and cost-efficient transactions. On the other hand, increasing customer revenue and responsibility. Our business model is used to ensure that the process is lean and reliable, and programs are awarded our scores and prizes to ensure a loyal and productive community. In this case, RedCab LLC has successfully used this method to create the best pricing formula at no cost or high cost on holidays or Bad weather.

TOKEN DETAILS
Token Name : REDC
Max Tokens Supply : 100,000,000
Token Type : ERC20
Exchange : 1 ETH = 2333 REDC
Hard Cap : 24529 ETH
Min Purchase : 0.1 ETH = 233 REDC
Pre-Sale : Starts 01 June 2018 at 12:00 AM GMT and ends on 21 June 2018 at 11:59 PM GMT with early bird investors getting a 15% Bonus till allocated amount is sold out or phase ends.
Main Crowd-Sale Start Date : 22 June at 12:00 AM GMT and ends on 15 August 2018 at 11:59 PM GMT.
Accepted Currency for Token Sale : Ethereum

CONCLUSION

RedCab project is indeed a progress for the car-hailing industry and it is creating value by resolving real life problems and bring up a concept that is profitable for everyone.
For more information, please visit:
Website : https://redcab.io/
Whitepapper : https://redcab.io/downloads/Whitepaper_EN_v1.0.pdf
Bounty : https://bitcointalk.org/index.php?topic=3835338.0
Telegram: https://t.me/RedCab_ICO
LinkedIn: https://www.linkedin.com/company/redcab
Twitter: https://twitter.com/redcab_llc
Medium: https://medium.com/redcab
Facebook: https://facebook.com/redcabeg
Reddit: https://www.reddit.com/u/Redcab_io

Bitcointalk profile link:https://bitcointalk.org/index.php?action=profile;u=1925101

DISCLAIMER:This post was brought to you by Opeyemi being my personal project on Redcab campaign project