RedCab’s expansion strategy: The Gulf Region
It has been only two and a half months back when the first step for towards the ICO has been made. Two and a half months is not a long period for the development of a company and yet it has been an exciting journey of learning and growing for the business and the team.
The ICO is coming to an end in two weeks, and many people ask us what is next? What are the results of the ICO? Let’s wait with the analysis of the results until the end of the ICO, but what we can say already now is that this ICO was a great chance to gain attention from investors and potential business partners. These new connections are opening new doors for RedCab. One of these doors is the entry to the business in the Gulf region.
The Gulf region is the area at the Persian Gulf in southwest Asia. The states, that are located there are Kuwait, Bahrain, Qatar, United Arab Emirates and Saudi Arabia. A fast-developing region. Compared to many other countries, the Gulf countries do not have a variety in public transportation. The need for a transportation is essential due to the rough climate of the desert.
As a resident of Qatar, I can tell that it is difficult to get a cheap transport inside the capital city Doha. The hot desert weather makes it a challenge to take the long bus rides and wait at the bus stops. Therefore, the residents in this region who do not own a car, must rely either on a private driver or on the taxi/ car-hailing services. There is no doubt, that according to supply and demand theory, the need of a cab in the hot desert sun gives the service providers the right to increase the prices of the rides. By entering the market, RedCab can contribute to achieve fair prices for the passengers.
Nowadays, Dubai (UAE) has a metro network which I personally was enjoying while visiting this wonderful city. However, this network is not available throughout the city and still cabs are in demand, to reach the other parts of the city. The tourism in Dubai is growing, therefore we can conclude, that the demand for the cabs will persist in the future.
Doha (Qatar) is building a metro network as well which will be opening soon. I believe that the service there will be awesome, however like in Dubai, it is not distributed throughout the city and the demand for cabs will not become lower. Here we should also consider the World Cup 2022 that will be held in Qatar. Other countries in this region are also working on a metro system. Car hailing services will not be a competitor to this solution but rather a compliment to fill the gaps.
RedCab is seeing a great potential in this market. Compared to other regions, Gulf population is not dense, but the need for a transportation in form of a cab is higher then in many other regions. This means that the percentage of potential customers is high. The business in Gulf is showing interest to blockchain solutions. However, we cannot yet see many implemented solutions. RedCab will lead not only the car-hailing market, but become also one of the first blockchain businesses to operate in the Gulf.
RedCab LLC. offers a decentralized peer-to-peer transportation solution to individuals. Utilizing the power of Blockchain technologies and a unique business model for a transparent, affordable, and innovative future. Founded in 2016, and launched in 2017 with a concrete roadmap unto the future of peer-to-peer transportation services. Proof of Driving and Proof of Marketing Concepts, AI Powered road assistant, Geo Ads for monetization, and a strong portfolio of on-ground operations in a very short time.
Our products are available on the App Store and Google Play for both clients.
RedCab Passenger App — https://play.google.com/store/apps/details?id=com.redcab.passenger
RedCab Driver App — https://play.google.com/store/apps/details?id=com.app.redcabdriver
RedCab on the App Store — https://itunes.apple.com/us/app/redcab/id1330160835?mt=8itunes.apple.com
RedCab Driver on the App Store — https://itunes.apple.com/us/app/redcab-partner/id1330176815?mt=8