RedCab, the decentralized peer-to-peer transportation solution powered by blockchain technology has been listed on BitKop, the global featured blockchain asset trading exchange.
Founded in Singapore in 2017, BitKop describes itself as a “safe and user-friendly decentralized global cryptocurrency exchange.”
With a reported average trading volume of 10,000 BTC, and over 200,000 registered users, BitKop boasts a core team consisting of professionals from all corners of the international finance and entrepreneurial space.
RedCab, who currently have an MVP already live and in use in its native Egypt, has plans to expand over the next year or so into Bahrain, the KSA, and European and Asian markets where it looks to provide a viable alternative to established industry giants such as Uber, Grab and Lyft.
With a lower percentage cut from drivers in comparison to Uber, RedCab looks to bring an element of fairness and lower operating costs to the growing ride-hailing industry.
Zero commission on electric vehicles
At the forefront of their principles is a focus on community, and a nod towards environmental issues with zero commission on those who integrate electric vehicles into their business.
Founded in mid-2016, RedCab had an overarching aim of reinventing the peer-to-peer transportation industry, “by solving a real problem through understanding the root causes of riders’ and drivers’ actual needs, and deliver an innovative solution governed by customer experience, transparency, and efficiency.”
Offering everyone the chance to “freelance as integrated service providers working on a peer-to-peer scale” the RedCab business model is intended to deliver “100% of the benefits to users versus 100% earnings to drivers and taxi companies” by way of decentralizing the entire process.
Those of us who have followed the success of the aforementioned industry leaders such as Uber will also know that there has been an explosion of sorts of start-ups looking to help solve the global transportation issue, and while many of them have succeeded as businesses, there has been a lot of social collateral damage.
Next stage of the journey for RedCab
Technology has helped to solve many of the issues that the ride-hailing industry has historically faced, but of late there’s been a deluge of copycat style businesses popping up, basically mirroring what Uber is doing with a different color of packaging and a different name.
The real success will lie with the companies who see what industry mainstays such as Uber are doing, and then run with the ball and take those solutions a step further.
This partnership between BitKop and RedCab is the next stage of that journey for the Egypt-based ride-hailing start-up.