RedCab - Ending the Transport Monopoly
I remember the days when we used to get to places via public transport or using cabs hailed on-spot, without any prior notice. There used to be so many local Travel Agencies around our locality that let us hire a cab, mini-van or any other vehicle but they always came with a driver. They'd never let you drive the vehicle personally.
All this changed when private companies like Uber and Ola entered the market with their standardised fares all over the country and allowing anyone interested to become a cab driver of sorts and letting them earn with any vehicle that they had lying around. The premise was simple and worked wonders in every market, be it a developing or developed one.
It opened up new opportunities for us. It allowed us to hail a cab from wherever we were without prior notice, helped save a lot on fares, getting incentives for using their platform and offering coupons. It helped increase customer relationship, as we tend to trust something when it standardised.
But, we know that nothing is without its flaws and this model has its share of it too. Without the presence of too much competition, it becomes somewhat of a monopoly, with the prices getting fixed by top players alone. This also led to decline in local players who were previously providing the services for a much cheaper rate. This centralisation leads to sudden hikes in price or them deciding when and where their services are available.
Also, they tend to take a large cut out of the drivers payment for using the platform and they can change this rate anytime they want and most of the time the drivers tend to get a lower than fair share that they were supposed to get.
They tend to decentralise this industry by implementing blockchain tech into it. It could get the whole driver community to get paid the right amount, with the project taking no cut out of it. They also don't take a cut out of the users spending too. This means cheaper tickets for the users as well as great income for the drivers. It's a win-win for both parties. They tend to fund their platform by offering geo-location based advertisements and taking no other fees.
Also it solves the problem of the field be too centralised, getting the power into the hands of the users and drivers instead of the company having the say on rates and prices.
ICO & Team
They plan to introduce an Ethereum based ERC20 Token to power the platform, acting as the payment method. Their Pre-ICO begins on 1st June and their Main-Sale starts on 22nd June. Both sales require you to be registered and Whitelisted in advance. The Pre-ICO offers bonuses for the Early-Bird investors.
They have a really strong and well experienced team consisting of a very active Founders who are serial entrepreneurs, Front-end Devs, Media and Content Creators, Web Designers, Animation Manager and lots of other support staff.
They are backed by a group of advisors from both the crypto and non-crypto sectors including people from Microsoft, Kaspersky, Dell, Oracle and many other fields.
Such projects tend to show the prowess of blockchain the amount of changes, good ones at that, it can bring to the current fields, any field for that matter. They all have something or the other to gain from the Blockchain Technology. It should be clear to people that it is not something that just powers the crypto-currencies but actually the other way around, blockchain is the base upon which they operate on.
They have a solid team and advisory board and their Proof of Driving and Marketing concepts are already patented to the Project. Also, they've raised a significant amount of investment from the Private Sale itself.
They only thing that they lack aboard their team is a Blockchain Dev or Specialist and that the market is too competitive as of writing this article with each player striving to achieve monopoly over the industry, while RedCab plans to do the opposite. So they are sure to face at the very least a slight opposition from the current top players.
In all the other aspects they seem well-backed and I believe they have every chance to succeed.
Website - https://redcab.io/
Whitepaper - https://redcab.io/downloads/Whitepaper_EN_v1.0.pdf
Telegram - https://t.me/RedCab_ICO
username bitcointalk - binhan