Redcad: The Cab Solution ICO Review

RedCab: the cab solution

A taxicab, also known as a taxi or a cab, is a type of vehicle for hire with a driver, used by a single passenger or small group of passengers, often for non-shared ride. A taxicab conveys passengers between locations of their choice. This differs from other modes of public transport where the pick-up and drop-off locations are determined by the service provider, not by the passenger, although demand responsive transport and share taxis provide a hybrid bus/taxi mode.

There are four distinct forms of taxicab, which can be identified by slightly differing terms in different countrie. Hackney carriages, also known as public hire, hailed or street taxis, licensed for hailing throughout communities. Private hire vehicles, also known as minicabs or private hire taxis, licensed for pre-booking only, Taxi, Buses, also come in many variations throughout the developing countries as jitneys or jeepney, operating on pre-set routes typified by multiple stops and multiple independent passengers.

Limousines, specialized vehicle licensed for operation by pre-booking.
Although, specialized vehicle and methods of regulation, hiring, dispatching, and negotiating payment differ significantly from country to country, many common characteristics exist.

Problems in the industry

Even though the job of being a taxi driver is simple in theory – to be able to drive and pick-up passengers, the day-to-day working conditions for drivers can be unreliable, and there are a number of key problems that taxi drivers around the world face. Unpredictable and unreliable work and pay – taxi drivers don’t earn a regular wage or charge a set hourly rate. Instead they are paid based on the number of fares they get, therefore the aim is to get as many fares as possible. Drivers usually use a meter to charge passengers based on time and distance travelled as well as some other factors like time of day they are driving.

Safety – taxi drivers are victims of crime more than often than the average person due to the nature of their work – they work in all parts of the city, often late at night, and they pick up at random people who may be drunk, on drugs or simply looking for trouble. Fare evasion and robbery is common, and in certain cities drivers can also be victims of violence, car theft and there have even been cases of murder and rape.

RedCab: leveraging Blockchain

To decentralize the taxi or cab industry, the implementation of blockchain technology is required. This is been made possible by RedCab. They are using blockchain to not only set the route and it’s distance covered to a fixed cost, but also shall soon provide the added bonus of earning cryptocurrencies as more and more distance is covered by travelling.

This company prides itself on the manner of their operations. As a peer-to-peer organization, it eliminates the role of a middleman or a centralized governing body. It also gives freedom to the driver. This is different from what uber is doing where a driver must complete a certain number of rides to earn even a fraction of profit.
RedCab allows drivers to set their own rates, negotiate and transact directly with riders, build direct relationship with riders for a stable and recurring customer base.  

Useful Links:             Website | Whitepaper | ANN Thread | Telegram | Twitter                                                               | LinkedIn  | Facebook | Riddit | Medium

Author Detail:

Profile Link:             Orangeseller
ETH Address:          0x1461C3727dC461EfF7B32751dFf56c51c2218d5E

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