DRIFE - The Next Generation Decentralized Ride Hailing Platform
Introduction
The following review, is a detailed summary and analysis about the DRIFE Project. This will be helpful for everyone who wants to learn more and get an objective view about the DRIFE Project.
DRIFE
DRIFE is a decentralized ride-hailing platform powered by blockchain with the intent of empowering value creators within the 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.
DRIFE are the first platform in this niche to express the full features of the decentralized ride-hailing economy. 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.
DRIFE ECOSYSTEM
Value Creators & Extractors: At the core of the ecosystem are the value creators (Drivers) and extractors (Riders) - Drife takes good care of them:
Drivers: DRIFE aims at shifting the focus from the existing commission-based platforms to a decentralized network with a new economic model, where 100% of the fare paid by 'Rider' goes directly to the 'Driver’. The DRIFE team are determined to make an economy of Zero commission on rides, only annual Membership Fee from the driver which will give them access to DRIFE platform to get connected with the riders.
The platform fee can be paid in either DRIFE token or Fiat currency and will accrue annually, with the first year Membership Fee paid by the drivers acting as a security deposit. Drivers will be given equivalent DRIFE tokens, which is locked into the DRIFE platform as long as the Driver remains in the community. Anytime the driver wants to exit from the community, they will be free to liquidate their DRIFE token for themselves.
The second-year membership fee will give drivers access to DRIFE platform only with no DRF token equivalent given. Funds collected through membership fee will be used for pay day to day expenses to run the platform.
Riders: Passengers receive special exclusive discounts (T&C applies) when DRIFE tokens are used to make payments for trips. Further, as incentives and bonuses when they behave appropriately during rides. More so, feedbacks on the driver, trips, overall DRIFE platform use, and network building are incentivized through the DRIFE token.
Developers: A community of open-source developers are incentivized through bug bounties and for other potentially creative in-app developments that will user experience through UI interaction for both riders and drivers.
Investors: It’s the desire of the Drife team that the product will have an indirect impact on adopters ‘outside’ our user ecosystem. This will include long-term investors, traders on both decentralized and centralized exchanges and all future potentials the DRIFE token will have as a result of interaction with our product and is adoptability. Incentives here will involve periodic airdrops, selfdrops, and air grabs. More so, staking rewards are competitive and far beneficial than what is currently obtainable on other decentralized projects.
Ride hailing where people choose the origin and destination oftheir ride—is rapidly evolving with the vast growth in the popularity of the sharing economy, and the rise of transportation network companies like Uber, Lyft and DiDi. However, these companiesare collecting a substantial amount of private information about their users (both passengers and drivers), including the origin and destination of the ride, user identities and various details about the ride. Drife has created a revolutionary platform which will empower value creators within the 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.
Features of the Platform
No Commission
DRIFE aims at shifting the focus from the existing commission-based platforms to a decentralized network with a new economic model, where 100% of the fare paid by ‘commuter’ goes directly to the ‘Drivers’.
Incentivise Social Platform
DRIFE provides additional incentives to its network users contributing towards the platform’s betterment through social interaction and network building.
Governance
DRIFE believes in a democratic engagement of network participants towards financial and operational decision making for the platform.
Safety
DRIFE values the safety of the commuters and endeavours to carry out multiple security checks on the drivers before on-boarding and whilst in service. DRIFE also provides infrastructure for broadcasting Emergency SOS signals within the community to solicit help.
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, commuters's fare, cybersecurity and transparent governance.
Sustainable Driver Income
The DRIFE platform is developed with the intention of solving the current concerns in the drivers’ community, alongside enhancing the quality of rides for the customer.
Drivers are given incentives to introduce new drivers to the DRIFE platform; which will in turn help to form a social community of drivers, owned by the drivers themselves. The result is a disintermediation of payment to any intermediary between the driver and the customer. This will inspire the new drivers to recommend other drivers until a critical number of drivers as defined by the network are present on the DRIFE platform.
Transparency
Blockchain implementation creates a fully auditable and valid ledger of transactions that is indelible and unforgeable. With a user-friendly interface to access the same, transparency in payments and fare calculations can be achieved.
Badge of Honor
Unlike the rating and evaluation systems employed by incumbent players, DRIFE brings in an innovative and holistic approach to gauge the services provided by drivers and reward them accordingly.
Token and ICO Details
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%)
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%)
Unique Team
The DRIFE team comprises of topnotch professionals in their domains. They have ambitious goals which will enable them to set new standards for the Market. To achieve this goal a strong Team is built with all the necessary skills, talents and long-time experience needed for the project. Most of the team members on DRIFE have verified LinkedIn profiles. This is all good because the more transparency a company have in regard to their team, the more trustworthy they typically are.
DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions. For more information, please visit;
Website: http://drife.one/
Whitepaper: https://www.drife.one/wp-content/uploads/2018/10/Drife-Whitepaper-v1.0.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5027608.0
Telegram: https://t.me/Drife_officialchat
Twitter: https://twitter.com/Drife_official
Medium: https://medium.com/@drife_official
Facebook: https://www.facebook.com/drife.official
LinkedIn: https://www.linkedin.com/company/drifeofficial/
Author
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