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.
In less than a decade, over 1600+ 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”
Here is how DRIFE solves the problems of current Ride Hailing platforms.
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.
Take a glance at the four major components of DRIFE that makes the project stand out.
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’.
DRIFE provides additional incentives to its network users contributing towards the platform’s betterment through social interaction and network building.
DRIFE believes in a democratic engagement of network participants towards financial and operational decision making for the platform.
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.
Built over the EOS Blockchain, our architecture leverages three unique properties of the parent chain:
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.
Please reach out to us for any queries.