It is another exposition in the transport industry which are the lines you will be digesting all through this article. You may wonder, why peer to peer transportation system? If you are familiar with the concept of Peer to peer systems what readily comes to mind is exchanges of data between computer systems connected over the internet. In the context of this article it is exchange of transportation services, workloads, tasks and operation over the internet. Data and privacy abuse are easily carried in many peer to peer systems this is why RedCab is not just using a conventional peer to peer system but a blockchain technology to decentralize the transport industry which peer to peer operations. There are many revolutions going on in every industry and most fortune 500 companies were never built on blockchain but other web technologies and products. RedCab is far beyond the architecture of Uber business model and operation as its architecture is diversified to understand and explore application of blockchain technology to maximize the potential of the transport industry. This is why RedCab stands out in the cryptocurrency community when it comes to transportation industry as it focuses on the cab or taxi business. Some may feel it is going to be a rival to Uber but it is advanced to make Uber its rival as this article shall unveil their architecture, business model and token sales.
An Overview and Current State of the Transport Industry
The transport industry is one with huge prospects and key players from every part of the world. transportation have gone way beyond movement of goods and persons from one location to another. Now there are technologies integrated by many startups to optimize the potentials of the transport industry. Of all the various means of transportation like water, land, air, sea, etc. this article if focused on the land transport with interest in the cab business.
Every country cannot do without cabs for transportation especially for shorter dances and ride within the city. it is convenient and offers privacy which many commuters value. Every country have color codes for their taxis and special tracking devices to track the location of every cab at any point in time. There are lots of challenges in the cab business as most more persons are going into the business daily thereby making the system congested with competitors.
The low earnings on the part of cab drivers is becoming a norm due to high cost of transportation. Commuters now prefer to patronize subways and other cheaper transportation system keeping only few passengers to patronize cab drivers. Most drivers who work for cab business owners receive little wage for their service because of high commission charged by business owners. The business owners are not left out from increasing taxes for their business making it more difficult to have a good return on investment for their cabs which are operational in the cities. With every country having their own bite of economic down turn cab business owners who build their business from scratch by buying cars and employing drivers to work for them are no longer remaining profitable in the business. This is not far from the truth why Uber came out with a new business model that allows people who can afford to buy good cars for cab and are certified drivers to work them via the platform by registering their cars and personal data on their database. Of course there is no data privacy of drivers as they are stored on the web application database which can be tampered by cyber hackers. Redcab decentralized transportation solution via their cab is the ultimate solution as shall be seen in the next section.
The Redcab Blockchain Solution and Architecture
Blockchain technology is the bane of operation of the RedCab platform. It is the backbone that powers the business model. It is a decentralized blockchain system which allows cost optimization , safe business transaction and data security. The platform allows cab drivers, commuters and business to register via the mobile or desktop application. Cab owners and drivers can setup their profile and upload their data on the blockchain which encrypts their data assigning a unique private key which is only available to the user. The data which includes the drivers name, name and model of cab, plate number, routes and pricing are all available to commuters who wish to employ the services of the drivers closest to the route. The RedCab blockchain algorithm performs series of data analysis to match the best driver with passenger which reduces cost and wastage of gasoline. It ensure the elimination of the scenario where a cab driver is plying any route empty without any passenger. Payments are done using the Redcab platform and the RedCab Token. Once a passenger opts for a cab service and payment is deployed on the smart contract. When the driver covers the distance for the route he or she automatically earns the token which is transferred to the wallet. The token can be exchanged for fiat currency or used to access other services on the Redcab platform
Unique Features and advantages of RedCab Blockchain Solution
The cab business have been already in the existence but there are unique features that gives RedCab edge over other cab transport solution and they are
Unique Business Model: It focuses on building a network of cab community which will provide more data needed for more research and improvement in the transport industry. there are room for other business to engage with the platform and add more value to the Redcab Solution making it flexible for adjustment and expansion.
Referral Marketing: The Redcab platform allows user to refer others on the platform and earn Redcab tokens which can be used to pay for services on the platform, the main goal of the referral system is to encourage publicity and adoption of Redcab in every city and county.
Automated Cab Assistant; Many existing competitors are using GPS technologies but RedCab is way advanced and integrated a An automated Cab assistant called Cabbi on its platform. it is a neural network system which helps users with reminders and optimizations of their trips, visits, etc.
Zero Commission: Drivers make reasonable profit form the platform as they do not pay commission to Redcab for providing the platform of their operation likewise the passengers that patronizes the platform. this is possible because of an geo-based ad program integrated on the platform which serves as revenue for RedCab as they advertise other business and services via the platform.
The RedCab Token and sales
RedCab shall be powered by its token REDC. It shall be the value and currency on the platform to pay and access services in the RedCab Platform. For the purpose of this project it has minted a total of 100,000,000 REDC tokens with 7% of this token reserved for private sale, 12% reserved for presale and 40% reserved for crowdsale. This is an opportunity for crypto enthusiasts and investors who believe in this vision to support the development of this revolutionary product. RedCab will be accepting ethereum for the ICO sales as 1ETH is equivalent 2682REDC during Pre-ICO and 2,333REDC in the main ICO.
To learn more about redcab blockchain project and their token sales please visit the links below.
ANN: https://bitcointalk.org/index.php?topic=3834815.0
Website: https://redcab.io/
White Paper: https://redcab.io/downloads/Whitepaper_EN_v1.0.pdf
Twitter: https://twitter.com/redcab_llc
facebook: https://facebook.com/redcabeg
Telegram: https://t.me/redcab_ICO
Reddit: https://www.reddit.com/u/Redcab_io
Medium: https://medium.com/redcab
Content Author Details
Username: Finixfly
Bitcointalk Profile Url: https://bitcointalk.org/index.php?action=profile;u=2141081