Introduction:
Imagine it is 9 AM on a Monday morning and you have an important meeting at your office. You try to book a cab from your home to your office and you find that either there are no vacant cabs or the ones which are vacant, are charging exorbitant rates. Left with no other option, you book one anyway and end up paying a large amount for your daily commute to your workplace.
Our current transportation system has improved a lot, but still it is not fully efficient to ensure smooth and cheap transportation for everybody. People end up spending hours on the road even after paying high cab and bus fares. Online cab aggregators such as Uber or Grab have made the situation better, but even they succumb to heavy traffic volumes. When demand shoots through the roof, the online cab aggregators automatically bring in surge pricing to compensate for lack of drivers on the road. This again burns a hole in the commuters' pocket.
The Problem:
Globalization has bought with it a few problems. No doubt that our cities have grown, lifestyles have changed and the world economy is becoming stronger day by day, but these benefits also come with a series of disadvantages -- such as higher population migrating to cities leading to traffic jams and transportation problems. The problem of transportation, especially within city bounds has grown immensely. Public transportation in many of the third world countries are in shambles. Cab aggregators such as Uber and Grab definitely help in improving the situation a bit, but what we need is a long term solution to this menace of ever increasing traffic problem.
The Solution:
Blockchain based projects are revolutionizing the way we transact and store data. The same technology can be used to provide an efficient riding scheme on mobile application. The Redcab team has already deployed their transportation network and has apps both on the Apple store and the Android Play Store. The team has come up with a revolutionary concept where both the drivers as well as the customers stand to benefit. The customer pays almost 30% lesser ride fare and the driver can earn more because whatever the customer pays is transferred straight to the driver. This takes care of the surge pricing problem as a higher pay package will attract more drivers to the network.
Another aspect which distinguishes this project from others is the fact that it is actually a peer to peer network based on the blockchain. This means that drivers can work whenever they are free!
The ICO and the team:
The team plans to fund the initial development, maintenance and general outreach through an Initial Coin Offering (ICO). Investors can buy the REDC token by participating in the Initial Coin Offering. The token will be used for all transactions performed on the RedCab ecosystem. The coin is based on the Ethereum blockchain and can be exchanged with other cryptocurrencies.
The team leading the project has multiple years of experience and in depth knowledge about the domain. The board of advisers are executive managers with top global firms.
Conclusion:
Blockchain is fast changing the technological ecosystem. The RedCab project is set to revolutionize the entire transport industry with the state of the art on demand peer to peer cab service. I personally feel that this is a very welcome move for the entire transport industry. The world needs a major change to efficiently manage the ever growing transport problem. Blockchain can provide the platform to do so and RedCab is harnessing the power of blockchain to establish itself as a game changer in the industry. The project has got everything in the right place -- a talented team, the right strategy and solution to a very pressing problem. I feel that this is one of the top projects in the blockchain space to look out for in 2018!
Website - https://redcab.io/
Whitepaper - https://redcab.io/downloads/Whitepaper_EN_v1.0.pdf
Telegram - https://t.me/redcab_ico
ANN - https://bitcointalk.org/index.php?topic=3834815.0
Published by - smithjones
Profile - https://bitcointalk.org/index.php?action=profile;u=1936039
