A Decentralized Taxi Services - Drife
Drife is the first-ever blockchain-based taxi service is launched in Bangalore, India. The main aim of this is to transform the taxi service with a transparent pricing model and everything will be in front of the customers and drivers. The owners of the Drife company feel that using blockchain technology can help them to tackle the existing problems with the existing ride services like Ola and Uber in India.
PC: Drife.com
There main aim is to have a zero commission model, market pricing and transparency which can only be achieved through blockchain. Ola and Uber are multi-national companies and they have a centralized system where the main motto is to earn money rather than share profits with their drivers.
It is slightly different than the other ride sharing business where the request for the customer goes to each driver and thus the drivers can accept the booking or can make the amount higher and lower and thus the customer can view all the bids submitted and choose the driver as per their preference. Though there is a slightly different experience from the customer side of it because he has to select the bid but is transparent. But this step is important for the user because then there is no other communication between the user and driver usually.
The base fares are calculated by the Drife and then the price is not dependent on the supply and demand but can be increased or decreased based on drivers' bids. With no commission from the ride, it charges the monthly subscription from the drivers which is around Rs 2500. This is the only revenue Drife has as of now. This is a good way to earn because then there is transparent pricing between the driver and customer and the driver can quote less also because he will get to keep all the money he is making from the trip.
Drife also has a DRF token which is on the BND Smart Chain and trading at $0.001166, which can be earned by the drivers too and can be redeemed for discounts on the subscription fee. It is still in early-stage and has quite a work to do to make it at par with Uber and Ola.
PC: Coinmarketcap.com
Overall it is good startup which helps to solve a problem in a decentralized way.
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We need more blockchain based projects like these in the real world. Lol I wrote about this yesterday and you are writing it today. Let's keep spreading the word. 🙂
Wow this is amazing! proud of my country.