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What is DRIFE

DRIFE is a decentralized ride-hailing platform powered by blockchain with the intent of empowering value creators within our ecosystem – these include the drivers, commuters, and community developers. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions. Our ride-hailing platform has created 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. With the power of the Blockchain technology, the DRIFE platform strives to bring a new paradigm to the ride-hailing platform and solve the horde of issues that have emerged from the current model of centralized business. The growth of the platform not only contributes to the objective of DRIFE but also enhance the overall value provided to all the stakeholders concerned like driver’s income, commuters fare, cybersecurity and transparent governance.

Why DRIFE

In less than a decade, over 1600+ cryptocurrency platforms built on the premise of the blockchain technology now exist. New startup enterprises, great innovative technologies, and improved scalability features from the original blockchain have elicited awe. However, more than 90% of these projects lack practical application or utility. Most of them are created as sub-chains or sidechains leveraging the power of more efficient systems. Despite the opportunities being accorded by the blockchain enterprise, adoption for most of these platforms is still out of reach because:

“Not many real-world use cases have been fully disrupted”

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Problem & Solution

Here is how DRIFE solves the problems of current Ride Hailing platforms.

Problem

Centralization
  • There are many problems with this infrastructure type, namely exploitation in the name of the commission, data breach and high level of government control to a central authority

Solution

Decentralized Platform
  • With the power of the Blockchain technology, the DRIFE platform strives to bring a new paradigm to the ride-sharing scenario and solve the horde of issues that have emerged from the current model of centralized business. The growth of the platform not only contributes to the objective of DRIFE but also enhance the overall value provided to all the stakeholders concerned like driver’s income, rider’s fare, cybersecurity and transparent governance.

Problem

Unsustainable Driver Income
  • Existing aggregators increased their commissions to 20-30% of the trip value from an initial range of 15-18%. Some drivers end up losing money after insurance, maintenance, and other costs, according to a study raising concerns over labor standards.

Solution

Sustainable Driver Income
  • The DRIFE platform is developed with the intention of solving the current concerns in the drivers’ community, alongside enhancing the quality of rides for the customer. Drivers are given incentives to introduce new drivers to the DRIFE platform; which will in turn help to form a social community of drivers, owned by the drivers themselves. The result is a disintermediation of payment to any intermediary between the driver and the customer. This will inspire the new drivers to recommend other drivers until a critical number of drivers as defined by the network are present on the DRIFE platform.

PROBLEM

Lack of Loyalty from Riders
  • Surge Factors: The prices per taxi ride for hailing a taxi has become more expensive these days, and thus riders look for alternatives. The ultimate aim of any ride-sharing organization is to create a loyal customer for a long term. Practices like “Surge Pricing” are becoming infamous among the customers.
  • Bad Service Reputation: Recently, there have been reported cases of numerous abuses of privileges and rights. In one scenario a cab driver under one of the reputable ride-hailing platforms was allegedly caught beating up a passenger. On the other hand, there are also few cases of passengers attacking drivers too due to bad services rendered.

SOLUTION

Transparency
  • Blockchain implementation creates a fully auditable and valid ledger of transactions that is indelible and unforgeable. With a user-friendly interface to access the same, transparency in payments and fare calculations can be achieved. We will be storing data on EOS Blockchain, which will include all the information about the Journey, Each and every Riders review, and feedback will be stored on the distributed ledger, Riders will be able to view all the details of drivers.

PROBLEM

Lack of 3-Way Incentivized Economy (Drivers, Developers and Riders)
  • Most attempts to create a blockchain solution to the problems above, end up leaving other value creators ignored. This makes them unwilling to participate in the building of the ecosystem.

SOLUTION

Badge of Honor
  • Unlike the rating and evaluation systems employed by incumbent players, DRIFE brings in an innovative and holistic approach to gauge the services provided by drivers and reward them accordingly.

ICO Tokens Details

Tokens Offered

162.5M

Soft Cap (Public ICO)

DRF 32.5M

Hard Cap

DRF 162.5 million
Private Sale 20th October 2018
50% $0.13/token
Pre-Sale 10th of January 2019
20% Bonus $0.20/token
ICO-Sale 1 1st of February 2019
15% Bonus $0.21/token
ICO-Sale 2 1st of March 2019
10% Bonus $0.23/token

Payment Processing Flow

 

DRIFE will allow payments via cash, cards, and DRF tokens. This gives the commuter access to different payment options and choice. For every trip, the fare is paid 100% directly to the driver and thus, ensures that DRIFE has no hidden cost, charges or commission. This 100% fare payment to the driver offers major cost benefits when compared to competing ride-hailing systems, and returns all revenue back to the community where it belongs.

Token Allocation Forecast

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  • 50%ICO Public Sale
  • 10%ICO Private Sale
  • 10%Founders
  • 10%Social Incentives
  • 5%Team Vesting
  • 5%Development
  • 3%Bounty & Airdrops
  • 5%Referral & Rewards
  • 2%Advisory
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  • 30%Product Development
  • 25%Marketing
  • 15%Legal
  • 25%Operations & Offices
  • 5%Reserve

Major Components

Take a glance at the four major components of DRIFE that makes the project stand out.

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No Commission

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 ‘commuter’ goes directly to the ‘Drivers’.

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Incentivise Social Platform

DRIFE provides additional incentives to its network users contributing towards the platform’s betterment through social interaction and network building.

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Governance

DRIFE believes in a democratic engagement of network participants towards financial and operational decision making for the platform.

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Safety

DRIFE values the safety of the commuters and endeavours to carry out multiple security checks on the drivers before on-boarding and whilst in service. DRIFE also provides infrastructure for broadcasting Emergency SOS signals within the community to solicit help.

GET Architecture

Built over the EOS Blockchain, our architecture leverages three unique properties of the parent chain:

The Roadmap

Q1 - 2018
Platform Idea
  • The idea of Decentralized Taxi
  • Conversion of idea into Business Plan
  • Community Development
Q2 - 2018
Design
  • Website launch
  • Listing of Drife to EOS index & other EOS projects
  • Social media profiles
Q3 - 2018
Preparation
  • Listing Drife
  • DRIFE Technical Architecture on EOS Blockchain
Q4 - 2018
ICO Preparation
  • Pre-sale
  • Demo version of Dapp
  • Drife campaign
Q1 - 2019
Pre Launch & Exchange Listing
  • Beta version of Dapp & Drife launch
  • Exchange Listings
Q2- 2019
Launch
  • Drife to go live - Phase 1
Q3 - 2019
Phase 2 Launch
  • Drife to go live - Phase 2
Q4 - 2019
Phase 3 Launch
  • Drife to go live Phase 3
Q1 - 2020
Expansion
  • Growing Globally
  • Enhance Technology

The Team

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Firdosh Sheikh
Co-Founder & CEO
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Surya Ranjith
Co-Founder & CFO
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Mudit Marda
Lead Blockchain Developer
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Andrew Willis
Chief Strategy Officer
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Arpit Sharma
Chief Operating Officer
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Wadad Kafka
Cheif Evangelist
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Debraj Ghosh
IT Infra Consultant
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Syed Adil Nawaz
Product Designer
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Rakesh Sahu
IOS Developer
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Emmanuele
Content & PR
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Samarth jain
Legal & Compliance
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Abhilash Verkey
Marketing & Research

The Advisory Board

Giovanni Casagrande
Board Advisor
Abhishek Singh
Advisor
Mickael Dammour
Advisor
Shameer Thaha
Advisor
Rick Floyd
Advisor
Savio Gomez
Advisor

Frequently asked questions

DRIFE is a decentralized Ride-hailing platform built over EOS blockchain. It aims at enabling both passengers and drivers to exchange rides without the intervention of any central entity.

We will initially launch our services in Singapore, India, London and Middle-East and then other parts of the world.

The features of EOS, which are helpful for DRIFE are as follows: - Fare payment with zero transaction fee. It's an added advantage for all the DRIFE users. - It is the only public Blockchain platform having highest scalability with zero unconfirmed transactions.

Yes. Its symbol is 'DRF'.

Total supply of 325 million DRF tokens will be released on the 1st day of product launch. After that, additional tokens would be generated deterministically and democratically after every period.

1 DRF token is worth $0.25. Please refer to the ICO sale discounts on the website for more information.

- For drivers, there is no commission per ride. This means that the full fare goes to their wallet. - For commuters, there is no surge price at all. This means that the fare remains static as otherwise. - Now, on DRIFE the decision-making is no more in the hands of central entity. This means that users get to set the fare after collaborative discussions based on transportation norms.

DRIFE is a dApp hosted over EOS Blockchain with EOS.IO as their core software. It introduces a new blockchain architecture designed for decentralized applications. It is an operating system-like construct upon which applications can be built. DRIFE utilizes the EOSIO software to access multiple features - send/receive transaction(s), compile and deploy smart contract(s), vote/unvote for Block Producer(s), delegate/undelegate EOS tokens for EOS resources - RAM, CPU, NET Bandwidth, in order to provide ceaseless operations in terms of ride-request from passengers and ride-allocation to drivers based on the amount of ride limits owned in proportion to the amount of DRIFE tokens (DRF) staked.

DRIFE is aimed at providing a complete transparent system in terms of cost-structure, incentive payment, Code documentation, community decision-making and so forth. Blockchain provides the following features, which are relevant to our platform: * Security - All payment wallets are entirely secure now using cryptographic solutions. * Tokenization - Now, the money can be programmed (create, issue, transfer amount) based on the decisions taken by the community members. In terms of incentivizing the drivers, commuters, developers, the payment is dependent on the amount of contribution. * Governance - Decentralizing the power has been an endeavour from centuries. Now, workforce-management has been made easy through continuous monitoring of activities i.e. Transparency. Election of moderators (representatives from drivers, commuters, developers) are completely dependent on the voting process.

Yes. Please find the Bounty campaign here: https://bitcointalk.org/index.php?topic=5054988.1360

Contact Us

Please reach out to us for any queries.