Website: https://www.drife.one
The transport industry has noticeably evolved as seen in the form of logistics and goods-delivery systems to personalized ride-hailing experiences. With needs to travel arising on the daily, the business of mobility has turned out to be big and lucrative as well. If we are looking at an industry that has undergone major transformation trends in the history of mankind, then the mobility industry is that industry. This could not have been possible were it not for the influence of technology and economic motivation growing side by side.
Drife presents at Fenox VC Startup World Cup #WBSDubai
Currently, the business of taxis has an estimation of 108 billion USD globally, a figure that is constantly being challenged by an increase in new forms of ride-hailing experiences. Ride hailing being a multi-billion-dollar venture has influenced many urban and suburb region largely, introducing new scopes to drivers’ economic empowerment. Today, the industry majorly spans through USA, EU, Japan, China, India, and Southeast Asia. Its currently valued at thirty-six billion USD. Projections by analysts, however, show that the sum will be approximately two hundred and eighty-five billion USD by 2030.
CURRENT RIDE-HAILING PLATFORMS FACE CHALLENGES SUCH AS:
Centralization.
The existing taxi aggregator businesses have a super centralized system where they actively collect data from drivers and commuters that are later fed to proprietary algorithms in a bid to find the most suitable match. This model has worked extremely well with these firms expanding the market and allowing customers to receive affordable rides. What people don’t seem to grasp though is the extent to which this model is centralized. This model sees exploitation in the name of commission, data breach and even a high level of government control to a central authority.
Unsustainable Driver Income
Drivers face a noteworthy investment cost when they buy a new vehicle in the hopes that the new avenues of opportunity will make it easier for them to repay the cost at a profit as fast as possible. When the existing firms began operations, drivers saw the advantage and expected the good days to continue for long but this turned out to be wrong and the market was oversaturated with drivers all left with greatly reduced income and must compete for every ride in a market that has sadly been overrun by competition.
Lack of loyalty from commuters.
As incumbents have established superiority in the markets and there is either a monopoly or duopoly situation, introductory low prices are now being hiked up gradually. This drives the commuters to find other alternatives.
There are frequently reported cases of abuse of privilege and rights.
Lack of three-way incentivized economy (Drivers, Developers, and commuters)
Mostly, attempts to create a blockchain solution to the problems that I have addressed above leaves other value creators ignored making them unwilling to participate in building the ecosystem.
CONCLUSION.
Drife has come to change the game in ride-hailing as we all know it and introduce a unique decentralized ride-hailing platform that is powered by blockchain empowering both drivers and commuters in the process. It will disrupt the already present business models and eradicate the corporate intermediaries involved in transactions. It aims at creating a new paradigm for the ride-hailing industry and being the very first platform on this niche to express the full features of the decentralized ride-hailing economy.
Links:
Website: http://drife.one/
Whitepaper: https://www.drife.one/wp-content/uploads/2018/10/Drife-Lightpaper.pdf
Facebook: https://www.facebook.com/drife.official
Telegram: https://t.me/Drife_officialchat
Twitter: https://twitter.com/Drife_official
Medium: https://medium.com/@drife_official
Youtube: https://www.youtube.com/channel/UC6hDbqlihawJTGlmYa4P2Tg
Linkedin: https://www.linkedin.com/company/drifeofficial/
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=5027608.0
★ Author: jamesndungu1
★ BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
★ All Images credited to DRIFE OFFICIAL WEBSITE
