RedCab LLC is a next-generation P2P transportation company. The company was founded in 2016 and started operating on-ground in 2017, with mobile Apps for both the driver and rider clients been launched on the App Store and Google Play. Redcab is aiming to scale their P2P transportation business across the globe targeting to operate initially in the first seven countries which include, Puerto Rico, Costa Rica, Panama, Nicaragua, Egypt, Lebanon and India. RedCab business model relies on these pillars:
- Proof of Driving for drivers
- Proof of Marketing for riders
- Cabbi – the AI-powered road assistance for customer experience
- Geo Ads as the business cash cow, and
- A decentralised transparent community for support
As a user (the rider) using Redcab and moving from point A to point B, will be paying cash or CC to recharge your RedCab wallet with REDC Tokens, and then utilize your balance of tokens in either paying for the trip, transfer them to an exchange and convert them to a different currency, or withdraw it in cash.
Proof of Driving for drivers
Proof of driving is a token generation algorithm. It generates tokens when a driver is accepting to take requests from customers. For example, you are the driver, and you are using the Redcab app to receive requests from customers. A customer booked a cab, and you are bringing him to a destination point 20 km away from the pick-up point. For each of this 20 km, you will be rewarded with REDC tokens inside the RedCab wallet App.
As a provider (the driver) using Redcab and picking up the passenger from point A to point B, will be receiving the fare amount in their RedCab wallet with REDC Tokens, and then utilize their balance of tokens in either transferring them to an exchange and converting them to a different currency, or withdraw it in cash.
Proof of Marketing for riders
For the customer (the rider), there is no reward in tokens for riding RedCab apart from cheaper transportation rates. A customer is ordering a cab, and at the end of the ride, he pays with REDC tokens through the app.
But, Redcab has a concept called Proof of Marketing for the riders!
Proof of Marketing is a token generation algorithm that rewards a passenger (referee) whenever he recommends the Redcab app to someone (referral), and his referral takes the rides. For example, You recommended the RedCab service to Harry. Next day, Harry books a RedCab and makes a trip for 20KM. So, for each kilometre that he is riding, you will be rewarded with REDC tokens.
Investment/Token sale info
Min. investment 0.1 ETH
Distributed in ICO 62%
Hard cap 24,529 ETH
Pre-ICO 1 June – 21 June 2018
Crowdsale 22 June – 15 October 2018
REDCAB Public Token Sale
Redcab LLC entered into various strategic partnerships recently, including the Depository network, Kartblock and Careonchain as the big names. With a lot of alliances ongoing, and after receiving a tremendous response in PRE-ICO round, Redcab has caught a lot of investors’ and market’s attention. Redcab ICO has been picked and highly rated by all the ICO rating sites.
Also, Redcab’s public crowd-sale is currently live making it more present in the news! The token-sale will end on 15th Oct 2018. Whitelist now to participate!