Defi space is evolving very fast, but so are the other sectors. Advanced technologies make it possible to contemplate things that were incomprehensible several decades ago. Most of these far-fetched fantasies are a reality now, and more is coming. The transportation and logistics industries have evolved, along with others. Privatized public transport is part of the changes. While people used horse carriages not so many centuries ago, we moved to the first generation of formalized government regulated metered taxis. Then we began using the ride-hailing platforms mediated by second-generation transport network firms. However, the time for changes came again. DRIFE team decided to deliver the pinnacle of this evolution by presenting people Taxi 3.0.
You may ask, what is DRIFE? The answer is easy – DRIFE is a blockchain-based mobility platform. And it aims to make the ride-hailing ecosystem decentralized. The company wants to ensure that its riders’ privacy is reinforced. Its drivers’ rights and remuneration levels will also be transparent, as well as fairly distributed. Drivers will retain their rights to unionize. Meanwhile, the system will ensure that local regulations and compliance are upheld.
DRIFE team aspires to disrupt the currently flawed existing business model. Uber and Lyft dominate the market now, but the company wants to offer a better alternative, with a fairer, more efficient, and transparent ride-hailing economy, along with a transportation marketplace built on the Blockchain. The team carefully studied all the existing industry’s problems and worked out solutions for each of them.
What are these solutions?
The most important one is probably the No Commission rule. DRIFE wants to eliminate excessive transaction fees. It will also redistribute value back to the community and reduce censorship. The company will offer much better transparency, as well.
Besides, a no-commission structure will lead to better incomes for drivers. In turn, the latter will be motivated to pass on some of these benefits to the riders who want to save on commuting costs. As a result, the Drife platform will eventually provide high incomes to drivers, along with economic incentives to riders.
The team will also ensure price flexibility. In fact, Drife plans to introduce its patented auction-based unique dynamic pricing model. Technological improvements achieved by blockchain technology will contribute to a much lower price for riders and simultaneously guarantees a higher income for drivers.
The company’s flexible peer-to-peer platform design and decentralized mobility marketplace will enable users to enjoy additional control and customize the platform according to their needs. For instance, riders will be able to choose drivers to optimize for a fare price, time for pickup, driver rating, or specific criteria such as storage capacity, disability access, child seats, car model, etc.
On the other hand, the platform will provide drivers with the option to ask for a price they think fits a ride. The team designed Drive to eliminate the market inefficiencies while dramatically enhancing freedom in choices and price flexibility for its users. Meanwhile, the Blockchain will provide an extremely high level of transparency and verifiability.
What are the other advantages of this platform?
Drife plans to continue classifying drivers as independent contractors. However, unlike on centralized platforms, its driver-partners will have actual independence. Furthermore, drivers will be able to negotiate their prices and choose the rides they want to take. They will also work the hours that they choose. Thanks to the Drife platform, drivers will use their local knowledge to their advantage, and they
The team wants to create a self-sustaining ecosystem, with every stakeholder playing a vital role in its growth and healthy maintenance. It has built Drife with the philosophy that one centralized network operator cannot know what is better for a region than its local community. Considering this, the company will bring in a franchise model to decentralize operations of the platform across various locations worldwide.
Riders, drivers, local transportation and logistics companies, and fleet owners can govern themselves most efficiently and fairly by participating in this unique NFT based franchise model. In effect, Drife will give drivers and riders a voice that has been snatched away by the centralized governance ride-hailing companies. The platform aims to do that through token staking for network ownership and by making proposals and voting on them.
DRF token is another incentive that will make it happen. This is the platform’s native utility token, created to aid in Drife’s governance. Both the drivers and riders will be able to earn incentives within the platform for their active participation and engagement with the DRIFE. However, there are different ways for platform drivers and riders to earn rewards.
What about transparency and equitability?
Like many other Defi platforms, DRIFE is also all about transparency and equality. A public blockchain has the potential to bring much-needed transparency into the ride-hailing industry. It will also ensure fairness in the way the DRIFE platform is operated. Blockchain can effectively increase the openness, transparency, and accountability among the users and value creators. It will simultaneously safeguard user privacy using appropriate encryption and various cryptographic techniques.
In the end, all these measures will ensure that DRIFE is an open, transparent, and free marketplace for exchanging rides. The use of the blockchain will also bring verifiability through its immutable and indelible ledger, along with enabling trustlessness thanks to the use of smart contracts.
Moreover, franchise owners will be able to govern local operations. They will simply need to configure the smart contracts appropriately by using the FNFT leased to them. Franchisees are local, and thus, they can work with drivers’ best interests in mind, making the best decisions for the community. The platform’s governing body will be a DAO where every user will be able to participate in decision-making. They will put forth proposals and vote on them.
This system will be very cost-effective, as well. Blockchain allows riders to connect with drivers through the decentralized platform directly. It reduces the additional costs incurred due to the involvement of unnecessary intermediaries. Besides, replacing record-keeping infrastructure and legacy systems with an immutable tamper-proof distributed ledger will also help in reducing costs. And don’t forget about removing the need for third parties to manage transactions. Overall, blockchain technology will massively minimize transaction costs.
How else can users gain from DRIFE?
Blockchain technology has given companies the ability to tokenize the ride-hailing economy. The team will use various on-chain digital assets of both fungible and non-fungible nature to achieve just that. It will use the native platform utility tokens for gamifying loyalty, rewards, and incentives. Meanwhile, Drife will use stable tokens for on-chain macro and micropayment transfers.
The company plans to stake DRF utility tokens for acquiring Franchise NFTs or FNFTs. The latter will provide the franchisee rights to use the name and system of the company.
What is Alterdice, and what advantages does it offer?
Alterdice is a cryptocurrency trading platform that offers low commissions. It is quite popular and has to potential to reach even more success. Alterdice team claims to offer the most liquid exchange worldwide, allowing users to exchange cryptos for other assets.
In addition, this exchange offers a host of order types to help traders and investors manage different scenarios. The company aims to provide a secure, stable, and reliable environment for digital assets trading through its web interface and mobile application.
Thus far, Alterdice doesn’t have its own utility token, but it enables to trade most of the major currencies.
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