RedCab (ICO) – leading the way to a decentralized transportation system in the blockchain.
Different blockchain-based platforms have already been launched – covering sectors in agriculture, data security, solar energy, logistics, health and wellness and even dating! And all of these contribute in making our lives more convenient.
So, what else is missing? Of course, the transportation industry. This alone is a huge sector on its own. Actually, it can already be considered as a basic commodity like food and shelter – everyone uses its services every day, non-stop.
Since everyone uses transport services, mobile apps came to life – and now, there’s no better idea than having it in the blockchain to expand its reach globally. This is what RedCab’s ICO is all about – to create a revolutionized transport mobile app in the blockchain.
Let’s take a closer look on this platform’s features and what sets it apart from others. Maybe by the end of this review you might consider it as a part of your portfolio.
The Project RedCab
The RedCab platform is an already existing mobile app. The Beta version of their app was launched in 2017 and after observing its performance, which turned out to be quite impressive, the group finally decided to take the next step for its expansion through the blockchain – thus, the launch of their ICO.
Aside from their goal to widen their reach globally, the RedCab group aims to create a decentralized blockchain-based transport ecosystem to provide transparency to all customers, reduce transport expenses and to continuously develop their platform’s infrastructure through a powerful scalable tool to meet all of the end-users demands.
How does it work?
First, their blockchain-based mobile app will be made available for both riders and drivers – this, of course, is to enable passengers and drivers to communicate and carry out settlements (the app works just like any other similar apps in the market today for booking rides).
Now, here’s what sets RedCab apart from the traditional transport booking app – the blockchain-based decentralized platform will enable drivers to earn more and passengers to spend less due to the absence of mediators. The mobile app is designed to have a peer-to-peer interaction. The RedCab mobile app will automatically calculate the cost of the service but without the high interests charged to drivers and less tariffs. This simply means that drivers will get 100% of the revenue from all trips made.
Not only that drivers will earn more from each service rendered but also, they will have an opportunity to earn token rewards based on their riving performance.
RedCab tokens (REDC tokens) will circulate the entire RedCab ecosystem, of which, both drivers and passengers can benefit from the advantages of utilizing the tokens.
The entire platform will be powered by smart contracts to ensure transparency and fairness.
What are its features?
- Huge savings for passengers and high returns for drivers.
- A fully-transparent and consistent ecosystem due to decentralization and smart contracts’ management.
- AI powered personal assistant will be in place for better customer experience.
- Balanced supply and demand to prevent price surge and dominate the network.
- Token rewards (REDC tokens) will be made available to both drivers and passengers to ensure usability and to encourage new users to join the community.
- Different services will be offered to match each passengers’ needs. These services will include car hailing, carpooling, hotel and airport transportation, delivery service and pickup service.
- A multilingual app will be made available for better customer experience.
What makes REDCAB different?
For Drivers:
- Higher revenues for drivers due to the absence of high interests charged to drivers and less tariffs.
- Additional earnings from the platform’s token rewards program (REDC tokens). This will be through proof-of-driving.
- More rides per hour.
- Multiple options of transportation services to offer.
For Passengers:
- Big savings compared to other traditional transport services.
- No dynamic pricing (surge pricing) due to balanced supply and demand.
- Less waiting time for passengers due to decreased holding up time.
- Different transport services to choose from to match each need.
- Earn token rewards from the referral program (REDC tokens).
- Earn tokens from proof-of-marketing.
For Businesses:
- Reliability and efficiency of the services are ensured due to the set KPIs and threshold that service providers are required to comply with.
- High savings.
- Higher earnings from promotional ads and discounts.
ICO Details
Token: REDC
Token Type: ERC20
Token Price: 1 ETH = 2333 REDC
Minimum Purchase: 0.1 ETH
Soft Cap: 2143 ETH
Hard Cap: 24529 ETH
ICO Duration: June 22 – August 15
The Verdict
The first thing that would really capture our interest is the fact that this platform has been used in an already existing mobile app. This somewhat gives credibility to the RedCab group that they have the expertise on the subject matter.
Another, is the fact that the transport industry is very huge... like really huge. So, the possibility of growing its community into a massive group is not far from reality.
But most important of all, is the unique features of the RedCab mobile app due to its adoption of the blockchain technology. Admit it or not, we are currently dealing with issues concerning getting a ride – of which, should not be the case. We are constantly dealing with price surging when it’s the horrible rush hour time. Another is the never-ending wait time when it seems that the whole city is booking a ride at the same time. And, of course, the unfair payout for the drivers.
Well, RedCab deserves a kudos in pointing out these issues and presenting a solution through their blockchain-based platform. Not to mention that they tapped on one of the largest industries we have. So, now its up to them to effectively execute and facilitate all their platform’s features to truly make it beneficial for all users.
If everything goes well as planned, then, it is with no doubt that this platform will invite a huge number of users which will lead to their success. If so, those lucky ones who participated in their ICO and was able to grab the REDC tokens during the sale, would possibly end up like they have just gotten themselves a gold mine.
Website: https://redcab.io/
Telegram: https://t.me/RedCab_ICO
LinkedIn: https://www.linkedin.com/company/redcab
Twitter: https://twitter.com/redcab_llc
Medium: https://medium.com/redcab
Facebook: https://facebook.com/redcabeg
Reddit: https://www.reddit.com/u/Redcab_io
Whitepaper: https://redcab.io/downloads/Whitepaper_EN_v1.0.pdf