RedCab LLC is …..
It is a business model with technological and futuristic attributes that survives in the transportation space. This is a resultant of thorough investigations carried out in the market by dedicated team of RedCab to look for what customers really need. Eventually, as the time rolled by, a complete market survey could help to initiate RedCab in the year 2017.
The launch of the mobile app regarding this happened in a touristy place by the Red sea to test car hailing and it successfully showed that growing potential exists in metropolitan cities globally.
The goal of RedCab “token sale” is to
Convert the business model in to a decentralized ecosystem and to achieve the access to the global market in a transparent way reducing the expenses happen through intermediaries which in turn cut back expenses of the end users
As RedCab is a resultant of solutions for drivers, riders and customers, this consists of innovative solutions with transparency, efficiency obtained through experience. RedCab LLC gives the chance for everybody to freelance as integrated service providers working on peer-to-peer scale, while taxi companies operate as an aggregated professional service provider.
RedCab offers its 100% of prime benefits to the users and 100% earnings to the drivers as it has been decentralized.
Drivers’ reward program and performance evaluation have been designed to ensure that every single ride gets the highest quality from a customer experience standpoint. A psychological factor is subtlety implemented to monitor customer satisfaction as well.
Solutions through RedCab
As this is a decentralized transportation system, it uses blockchain technology to make cost efficient and secure transactions. To ensure the sustainability and the continuity, billions of dollars saving from the transportation commission will be rewarded back to the eco system.
On the other hand, this consists of a smooth and flexible pricing formula to amend the fare from one country to other or from one city to other without surge prices in holidays and bad weather.
Multiple copycat business models have emerged and some have been able to establish as a business unit but social collateral damage is apparent. Customers are not only searching for a trendy service, but looking for a true reliable service with sustainable quality and safety, that offers all transportation options and services with a low competitive price.
As we all know drivers are the basic pillars of the transportation and many of them act so in order to strengthen their income. It is ensured that their income is increased nearly by 20% when RedCab intervene.
Why RedCab is so unique?
All kind of offered services by RedCab have been integrated in mobile app and is available in both Google play and App store which ease the payment procedures, usage monitoring.
RedCab offers
RedCab serves its customers by
RedCab serves its drivers by
RedCab serves its hotels and restaurants by
RedCab offers you more than you imagine……
RedCab has been able to understand clearly what customers really need and has designed many categories that make its customers satisfied.
RedCab does not need to rip off its customers because decentralized platform causes to pay less for the customer and the amount paid by the customer is totally allocated for the driver. The main idea behind making RedCab decentralized is to give something in turn to the community which is transparent, affordable and useful service that people can use daily basis.
RedCab LCC main monetization pillar is Geo Ads, where Hotels, shopping malls, restaurants, cafes, clubs, etc. will push offers and promote their products on the Mobile App map depending on an algorithm analyzing historical data for each rider, and showing only what is relevant to capitalize on the fulfillment KPI and drive profitability.
Revenue model for RedCab
Two methods are available that generate revenue for RedCab
Plan A is to continue revenue generation from drivers’ commission until revenue generation from Geo Ads ensures that cash is flowing in to the company year over year.
While plan B is to ramp down the commission percentage as soon the revenue generation from the Geo Ads stream starts picking up.
Mobile application & offered services
Global reach being a main aspect, RedCab has been able to use more than six languages and is linked with global maps to match and cover different user experience. Other than this, diversified car options have gone deeper within the community
Scheduled rides through RedCab enable you to catch your business meeting, plane or any other urgent event with no fear.
Carpooling creates a ride inviting hailers nearby or trip companions with multi drop off and pick up locations Though you prefer a silent ride, this will entertain you without interrupting your freedom as well.
Those who need to make prestigious travel in a stylish way attending to the business meetings and many other social events can use luxury cars.
Peer to peer feature is the normal standard feature offered by most car hailing services. You can order a ride and get the nearest driver. This is the most used feature by customers all over the world, that’s why RedCab LLC has decided to gift the world a new business model to make it rewarding for the driver and more beneficial for customers through offering the lowest price fare possible. Thanks to the fantastic Blockchain technology, we will also provide a global decentralized secured utility through our wallet and utility tokens.
As many of the people require, RedCab also allows the pickups and delivery services as well.
As main business monetization model is based on Geo Marketing ………..
It is needful to get to know the customers’ behavior, trends, trip route locations and many other aspects to identify a targeted module as the main revenue for RedCab is through Geo Marketing. Those who get the service can voluntarily link their account to RedCab profile which may present a few questions to have a good understanding about customer requirements. This will not create irritating pop-up Ads. Instead, it helps to get what you need when you need it.
Introducing Geo-location marketing technologies as Geo-fencing, smart posters & augmented adverts on top of a Blockchain powered network is considered a new revolutionary step towards an ultimate marketing methodology that combines customer satisfaction, market reach and business fulfillment at the same level.
Proof of Driving © & Proof of Marketing ©
Proof of Driving and Proof of Marketing are concepts RedCab is introducing to the community to maintain the network’s supply and demand balance. It is also an incentive for drivers and customers to generate the REDC tokens in return to their contribution to the Network’s growth and scalability.
Proof of driving
RedCab will introduce a brand new method to motivate the drivers to get on the wheel and drive people around through the creation of an algorithm that generates Tokens from the reserved pool as long as the driver has the App open and the GPS chip is counting miles driven. The result is fractions of the tokens being generated and multiplied by the percentage of successfully completed trips to govern the fact that they’re actually driving people and maintaining the network supply balance.
The concept was inspired from Proof of Work concept in crypto currency mining, however instead of using the computing power of a CPU or a GPU chip to solve a block and reward the miners with fractions of the mined coin for their work, the Proof of driving solution will operate through an algorithm that measures the network supply congestion and adjusts the token/coin generation rate accordingly for the connected node, as long as the GPS chip installed on a smartphone/device is in motion and logging the distance travelled. The app then multiplies the generated tokens by the percentage of successfully completed trips to ensure that drivers are actually accepting trips, moving people around and providing the community of riders with adequate supply of cars whenever required.
Proof of Marketing ©
Proof of Marketing is based on a referral model that is built upon a multi layered marketing solution and it utilizes a similar algorithm to the one we will use in Proof of Driving. The concept basically applies to customers, and it rewards them with tokens as long as they are referring the App to their friends and family, and as their network grows, they’re being rewarded for every mile driven by their referrals up to 3 levels.
Operations & Performance Management
Its performance is monitored by six sigma foundations .performance matrix, key performance indicators, results’ analysis will be used to ensure continuous improvements. The operation tools in RedCab LLC are so powerful to tune the network in order to reward and to recognize high performers whereas to distinguish poor performers & implementing them penalties, suspensions and if engaged in abusive actions.
Performance management tool used RedCab
Automated reports will be generated to measure the drivers’ performance giving them the score out of 100. Then high, medium and poor performers will be identified with the help of bill curve methodology. The score board helps to identify areas that need the attention as well. Customers claim set of incentives based on actions and usage. The use of drop-off location, adherence to pick up location and less waiting time to start the trip will be taken in to consideration. This ensures the punctuality and saves time. In other hand drivers can complain against irresponsible behavior of the customers as everybody possesses a traffic light (Red, Yellow & Green) indicator on his App indicating his status on the system.
Set Location- Customers are given 5 points each time when they set the drop off location as it is helpful to plan the routes, ease of reporting, managing time and helpfulness for promotional Ads. Whereas customers will be deducted 10 points each time if undergo order cancellation. Customers will be rewarded for their adherence to the minimal waiting time for pickups. In each time when the customer leaves a feedback, five points will be given for being an effective member in RedCab. Customers will be rewarded 5 points for submitting NPS (Net Promoter Score) as part of process improvement in RedCab. Scheduled trips are welcome at all because more planned operations and network dominance maintenance are aimed by RedCab.
Network Dominance (Supply & Demand Balance)
RedCab has been able to penetrate the concept deeper in the community avoiding the competition while leaving an unforgettable magnificent experience. Along with the time diplomatically RedCab will be able to conquer small touristic cities, larger cities and consequently metropolitan cities. The uniqueness bound with RedCab will surely keep its customers all the time with it as it serves exclusively when there’s more traffic and demand on transportation services from hotels, airports and first time travelers.
RedCab transformation……..
Project Details
Author - bimalkithmini
