DRIFE Ecosystem

Hello everyone....!!!!
we meet again on this occasion, and next time I will review a little about DRIFE.
for more details, let's be the same, refer to the following article:


What is DRIFE?

DRIFE is a completely decentralized ride-hailing platform powered by the EOS blockchain with the intent of empowering value creators within our ecosystem – these include the drivers, riders, and community developers. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions.

What we’ve created in the DRIFE ecosystem is a new paradigm for the ride-hailing industry. We are the first platform in this niche to express the full features of the decentralized ride-hailing economy.

DRIFE Ecosystem: Value Creators & Extractors

At the core of our ecosystem are our value creators (Drivers) and extractors (Riders) - we take good care of them:

A. Drivers: DRIFE aims at shifting the focus from the existing commission-based platforms to a decentralized network with a new economic model, where 100% of the fare paid by 'Rider' goes directly to the 'Driver’. We at DRIFE are determined to make an economy of Zero commission on rides, only annual Membership Fee from the driver which will give them access to DRIFE platform to get connected with the riders.

The platform fee can be paid in either DRIFE token or Fiat currency and will accrue annually,


Ride-Hailing Economy

Ride-hailing as a multi-billion-dollar venture has influenced many urban and suburb regions to a large degree, bringing new scopes to drivers’ economic empowerment. Currently, the major regional coverage for the industry spans through USA, EU, Japan, China, India, and Southeast Asia.

The current valuation for the ride-hailing market is about $36 billion USD. Analysts have projected this sum will be approximately $285 billion USD by 2030 which is 8 times the current valuation.

Ride-Hailing is Evolving

Unlike the taxi industry, which dates back centuries ago, ride-hailing in this age, has the advantage of technology and a driver’s motivation for independence. Taxi companies regulated by either the state or transport authorities have made income earnings for drivers more difficult with stringent policies and bottleneck bureaucracies; the worst is envisaged when centralized middlemen entities disrupt the income flow of drivers through huge commissions.


Decentralized Sharing Economy is the Future

The advent of the blockchain, smart contracts, and the decentralized distributed economy has opened up the world to a whole new scope of opportunities. These opportunities have given rise to a host of tokenized digital assets and a prospering new Internet-based economy. While these concepts are still nascent and propose a brighter future, their current development and application streams are magnificent.

An estimated $3 trillion USD has been projected to be the annual market value of blockchain industry by 2030, an approximate 120,000% increase from the current $2.5 billion USD valuation. This value impression is further backed by the current volatile market capitalization of cryptocurrencies to an estimation well over $280 billion USD (as at the time of writing) and a current daily trading average of $10 billion USD (which has reached a record high of $60 billion USD in the course of a decade).

To this point, almost every industry that could be brought to mind has some form of a tokenized asset based on the blockchain enterprise. Their point for existence would be to leverage the immutability of distributed consensus or the automaton of trust features; either way, the aim of disruption usually tends to the side of a more transparent sharing economy. The ride-hailing industry has not been far behind this disruption mechanism.

Unsustainable Driver Income

Taxi drivers confront a noteworthy investment cost when they purchase a new vehicle in the hopes that the new venture will make it easy for them to repay the cost with a profit margin in the shortest amount of time possible. Oftentimes, their expectations are far from reality. Take, for example, medallions in suburbs and urbanized communities could cost as high as $1.3 million USD – even with the price crash to $250,000 USD; it is still almost certain that an average individual could not afford a one-time payment.

When the current firms began operations, drivers saw the benefits from these platforms and expected the good days to continue over a long period. When these expectations rose, the market became oversaturated with drivers. In a market overrun by competition, these drivers are now left with greatly reduced income and must compete frantically for every ride to barely get by. The initial benefits were made possible because the costs were borne by the firms that again return with the issue of high burn rate of investments.


DRIFE Token

The DRIFE token (DRF) will be issued and stored on the EOS blockchain​ and it will be used on the platform by both drivers and passengers. Using the token will enable ease of use, proof of ride purchase with proof of agreed costs and will also add extra value for those using the DRIFE platform.



Our Tokenomics

Drife token, DRF is a utility token that will also function as a payment method within our platform. It will be used to execute ride payments, access loyalty rewards and staking functions on our platform.

  • Blockchain type: EOS
  • Token Type: ETH ERC-20 Compliant Token
  • Token symbol: DRF
  • Total supply: 325 Million DRF tokens
  • Economic model: 1-3% annual Inflation (depends on decision-making by the community)
  • Whitelist: Yes
  • KYC: Yes

DRF tokens will be pegged at the value of $0.25 USD 50% of token supply is for public sale: 162,500,000 DRF

After the public sale these utility tokens are not just restricted for services but also sold on exchanges.

The Driver and rider bonus tokens are to encourage loyalty from DRIFE customers, this will be distributed to the early adopter of DRIFE APP for commuting, and this is given to both rider and drivers for adding new people to their network.



Token Allocation

Overall, 325,000,000 tokens will be released. The hard cap of the tokens for sale is 50%. The remaining 50% of total emitted tokens will be divided amongst the Private sale (10%) Social Incentive (10%), Development pool (5%), Team members (5%) founder (10%) which will be locked for 10 years, bounties and Airdrop (3%), Referral, Rewards and Bonus-5%, Advisory (2%)


Fund Distribution

All funds contributed as part of the public sale will be used for development, testing and release of Minimum Viable Product (MVP). Furthermore, these funds will be used to support community building campaigns.

Funds contributed as part of token sale will be spent on rolling out the final version of the platform and its mainstream adoption. Areas on which token sale funds will be spent include product enhancements (including bug bounties), 3rd party audits, testing, marketing and reserves for any possible contingencies.


DRIFE aims at Building a Dapp on EOS blockchain, it will take at least 6 months for us to build the software. We are planning to launch our Dapp in 4 different regions worldwide. With the success of DRIFE in these 4 regions we will start spreading across other Blockchain friendly nations. Depending upon the legal constitution of various region our Plans to start operations might change.
Tentative Cities to launch DRIFE are Middle-East- Bahrain, Dubai, Saudi Arab Southeast Asia-Singapore, Malaysia, Philippines South Asia- India United Kingdom


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AUTHOR

Bitcointalk Username: Red devil
Ethereum Address: 0xF07e50bA855AAdB23F425A1Ce636Ecfc26e8a68E



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