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Hey guys,

I’ve got a really novel new project to review today, called RedCab, which is looking to bring about a new vision of peer-to-peer transport, powered by blockchain technology.

Quick disclaimer: this project, like all I review, is new to the scene and is still under development so please always do your own research. Also remember this is my opinion and not financial advice; my content is for educational and entertainment purposes only.

Let’s jump right into it!

INTRODUCTION

Redcab is a decentralized transportation system on blockchain technology, established to ensure effective solutions are provided for the mounting problems facing peer-to-peer transportation. Centralised P2P transportation solutions are becoming more popular due to their convenience, but a monopoly of a few players in the scene means that there is noting that can be done to fight back against high commission fees for both customers and drivers alike. Redcab’s system does not only strive to solve these issues alone, but also implements and utilises brand new tech solutions in order to do so in the most effective way, bringing the most benefits.

The Redcab project adopts a forward-thinking and innovative approach towards solving the problems of the P2P transportation space; blockchain means that transactions are secure and transparent, and also cheaper then ever before possible, and also artificial intelligence in the form of the platform’s built-in AI-powered road assistant named Cabbi.

The Redcab app went live in 2017 and the team have been collecting research data and gaining first-hand experience since.

REDCAB’S DECENTRALIZED SOLUTION

The Redcab platform essentially enables users to interact within an effective peer-to-peer network without depending on a central party to guide the process (and taking huge fees in the process). Redcab centers on creating a community of drivers who get rewarded for taking people wherever they intend to go, in an ultimately fair way only made possible by the use of blockchain tech; drivers using the platform receive 100% of the fare. Redcab themselves intend to monetize their platform through geo-ads, as local businesses are able to place their ads on the platform to promote their brand.

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The rides offered by these drivers will be available in a range of different journey options, not just one blanket option as with many usual taxi or transport systems; Economy Cabs is available for users who desire regular, simple everyday trips, the Luxury cabs usually for those who intend to travel in style and the Red cabs which represent the ultimate ride. All of these are graded according to users’ requests. It’s great to see such a range of choice where traditionally there is none!

SPECIAL FEATURES

The most notable feature of the platform is Redcab’s decentralised business model itself, demonstrating as a clear example how blockchain can provide disruption to an industry that makes it more beneficial for all parties on the platform.

By utilising blockchain tech and their own REDC token, Redcab can provide users with an open, efficient and secure platform which is community-driven and not based on a central party. This decentralised approach reduces the expense incurred by users on transportation within the platform; the excess charges placed by middlemen on transport services are eliminated, whilst transaction fees are minimal. The platform also intends to create an infrastructure that will address the ever-growing demands for transportation services internationally; by developing a tool that will be inherently powerful and scalable.

TEAM & TOKEN DETAILS

The Redcab project was founded by Mohamed Mousa, a man with many years of relevant experience, working in various sectors. His clear vision for the future of the project can be seen reflected in the project itself. The project was co-founded by various other individuals such as; Walid ElGendy, Asset Yes, who also doubles as the project’s CTO, Mohamed Ameen, who is also the project’s creative director and Fadi Nashed, who is also the COO of the project. These individuals put together, form a well-rounded team of capable individuals.

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Redcab Token, with the ticker of REDC will be utilised as the utility token within the Redcab platform, for settling transactions. The token, which is an ERC20 token, will exchange in their current ICO (ENDING VERY SOON!) at 2333 REDC for 1ETH. With a Hard Cap of 24529, the minimum purchase is pegged at 0.1ETH for 233 REDC.

The crowdsale which began on the 22nd of June is expected to end on the 15th of August, 2018. So get your skates on if you want to contribute.

CONCLUSION

Redcab are building a potentially hugely disruptive alternative to current P2P transportation solutions and their growing problems. With the transportation industry expected to be generating at least $285billion in revenue from 2030, the project is leveraging both the massive potential for growth the transportation industry has, especially in metropolitan cities, along with the increased possibilities blockchain brings.

Presenting a vision for a better, more fair decentralised P2P solution, Redcab have obviously done their homework during their ground operations since 2017 and know exactly which problems to tackle and how.

I wish them the best of luck and will be following!