RedCab and Autobay establish Strategic Partnership
The transportation industry is one of the industries, that affects our lives daily. Everyone needs a transport to get to home, work or visit his friends and families. However, until now, still many issues in the market are unresolved. The blockchain technology can help, to resolve some of the issues and we are happy to observe, that more and more blockchain projects are offering solutions for this. Yet the blockchain industry is a new field, and exchange knowledge and building partnerships are one of the key aspects of a successful project.
We at Redcab are observing and interacting with the market around us. This way we are exploring new opportunities for partnerships that will benefit the project as well as the community. Therefore, we are happy to announce the partnership of RedCab and Autobay, the first decentralized E-commerce platform to buy, sell & auction any vehicle with cryptocurrency.
“The Strategic partnership between RedCab and Autobay opens the door to endless opportunities for everyone and paves the path to mass market adoption”
Mohamed Mousa, CEO of RedCab LLC.
With Autobay, RedCab drivers will have the opportunity to buy or upgrade a car using cryptocurrency. This way they can safely purchase a car at a low cost using cryptocurrency and then start offering their services for RedCab passengers. For the future, there will be more possibilities explored such as simplifying the payment process at Autobay for the REDC Token holders and vice versa, act as a strategic enabler in migration to Electric cars for better environmental sustainability and lower operational costs, as well as the introduction of cars’ lease options.
“Autobay has been seeking strategic partnerships to create a stronger platform that can provide the best end to end service to our customers. We are happy to partner up with Redcab and work with such an outstanding team.”
Alejo Serrano, CEO of Autobay.
The partnership of RedCab and Autobay is a strong tandem, that will bring cryptocurrency and decentralization into mass market allowing users to benefit from a safe, progressive and affordable service globally considering both companies’ global expansion plan throughout the next few years.
Autobay is the first e-commerce platform based on the Ethereum blockchain that allows users to sell, buy and auction vehicles using cryptocurrencies as a payment method. Each year over 80,000,000 new cars are sold worldwide and only in the US over 100,000 used cars are sold every day, through an outdated, cash depending process. Autobay’s vision is to create real value to cryptocurrencies allowing them to act as a financial asset to purchase goods (vehicles in this case) while solving a day to day problem of the car industry, creating a much safer, simpler and secure process to purchase vehicles. Autobay’s main objective is to create legitimacy to the cryptocurrency market by allowing the use of Bitcoins (BTC), Ethereum (ETH) and Autobay Tokens (ABX) as financial assets to acquire goods (cars, trucks, and motorcycles).
RedCab LLC has been observing the transformation of car sharing and transportation industry during the past 8 years from the technical and social sides. For the past year the research has started by the founders to build the first global transportation community and introduce a new business model based on sharing economy and community development, and on the other side build a profitable business based on data monetization from Geo Ads. RedCab LLC believes in the power of community when they have the right tools and the firm operation expansion becomes a matter of time.