DRIFE unique decentralized ride-hailing platform powered by blockchain
DRIFE is a unique decentralized ride-hailing platform powered by blockchain. DRIFE will empower both, drivers and passengers.
DRIFE will disrupt existing business models and remove the corporate intermediaries involved in transactions. Our ride-hailing platform has created a new paradigm for the ride-hailing industry. We are the first platform in this niche to express the full features of the decentralized ride-hailing economy.
Background
It was in 2009 that the traditional taxi industry got disrupted by a company called Uber. It was an innovative idea of connecting the passengers and drivers through a platform. During the following years, other companies appeared in countries like Ola in India, Didi in China, Grab in Singapore, Careem in Dubai and so on.
What will DRIFE Solve?
The problem, is that existing models lack many of the functions that DRIFE will incorporate within our platform. For example:
Problem — Cost: The main aim of any rid-sharing organization is to create long term loyal customers. For a long time, prices have been surging and currently up to 25 percent commission can be charged by a taxi service. Passengers and drivers have been searching for alternatives.
Solution
Using blockchain technology DRIFE will create a fully transparent auditable and immutable ledger of transactions with a friendly user interface to access all the data of fare payment details.
Problem — Bad Service: A good reputation is essential for a company to survive and in this industry, passenger safety is the most important aspect. There have been incident reports where actual physical abuse has taken place by both the driver and passenger.
Solution
All DRIFE customers will be able to view full driver details including comments and feedback by other passengers. All the comments and journey experience will be stored n the distributed ledger. The DRIFE mobile app will incorporate a unique ‘SOS’ call function for emergency any situations.
Problem — A Centralized service: Apart from a high level of government control, there are other problems associated with a fully centralized service of this nature. These include exploitation of commission charges and personal data breeches also with the risk of identity theft.
Solution
DRIFE addresses these problems with a unique system where driver income, the passenger’s fare and the total commission is transparently stored. Within our own governance, we will ensure that the latest cyber-security systems are in place to protect our customer data.
There are many valid concerns within the current driver community. DRIFE will create a solid driver community and we will introduce incentives for drivers who will be able to introduce other drivers to the DRIFE platform and community. Most importantly, the growing driver network will be formed without the unnecessary need for an intermediary, resulting in direct driver payments.
Others may use a a simple rating and evaluation system but DRIFE will bring an innovative and holistic approach to gauge the services provided by drivers and reward them accordingly.
The DRIFE Token (DRF)
The DRIFE token (DRF) will be issued and stored on the EOS blockchain and it will be used on the platform by both drivers and passengers. Using the token will enable ease of use, proof of ride purchase with proof of agreed costs and will also add extra value for those using the DRIFE platform. For example, both the driver and rider can earn bonus tokens. This will be distributed in the form of free miles for early adopters of the DRIFE Commuting APP . The driver will earn bonus tokens for adding new people to their network. The DRIFE bonus token system will encourage loyalty from both drivers and customers. More future incentives are possible and we will always consider community rewards.
When the ICO sale is complete, the DRIFE utility tokens will not be just restricted for services but will also be available for trading on exchanges.
Token Metrics
DRF tokens will be pegged at the value of $0.25 USD and 50% of the token supply from ICO for sale will be 162,500,000 DRF
Token Allocation
Overall, 325,000,000 tokens will be released and 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% and Advisory (2%)
The token sale will have three stages
Stage 1
Presale: Discount Rate-20% — Total No. of DRF to be sold => 32.5 Million
Stage 2
Main ICO I: Discount Rate-15% — Total No. of DRF to be sold => 65 Million
Stage 3
Main ICO II: Discount Rate-10% — Total No. of DRF to be sold => 65 Million
Soft cap: 32,500,000 DRF (20%). Hard cap: 162,500,000 DRF (100%)
The main ICO sale is due to start on January 1st 2019 where there will be a 15% bonus incentive. However, investors will have the opportunity of taking part in the pre-sale due to start on December 20th 2018 where there will be a fantastic 20% bonus on offer.
For more details and to keep up to date, please visit our web page and our social media pages listed below.
About the team
Founded by Firdosh Sheikh and Surya Ranjith, our expanding and highly skilled and expanding team can be viewed from our main Web page: https://www.drife.one/
All the DRIFE team members have Linked in profiles and the necessary experience and qualified skills to build a successful and unique system.
We also have fantastic advisors who are well known in their fields and have a wealth of expertise.
We will initially launch our DRIFE services in Singapore, India, London and then expanding to other parts of the world.
About DRIFE
While ride-hailing apps have come a long way in the past decade, there remained a demand in the market for a system that truly empowered drivers and passengers. Enter DRIFE, the first-ever decentralized ride-hailing app that runs on a Blockchain network. We connect drivers and passengers with high-speed smart contracts and function with an economic model that is subscription-based. Drivers utilizing the DRIFE app do not pay a commission from their fares the way they do with current ride-hailing apps. Ultimately, the success of our app will bring a much-needed level of efficiency and transparency to the ride-hailing industry.
