Root Blockchain use Case in YoTravelbookWHAT IS ROOT BLOCKCHAIN (RBC)?Root blockchain is a blockchain as a service(BaaS). In simple word, RBC hides blockchain complexity from business and provides simple API to interact with blockchain.
VISIONToday everyone using HTTPS for secure communication between client and server. Although most of us do not know how HTTPS communication is secure and what are the complexity behind HTTPS, but we use it. RBC vision is to make problem-solving distributed blockchain accessible as simple as normal HTTPS for business. So that business can focus on their business, not on the complexity of distributed blockchain.
WHY RBC? WHY NOT ETHEREUM?Ethereum is first programmable blockchain in which we can write our own smart contract which is fantastic! But for running a complete business on Ethereum network is not practical yet. Few reasons are:
a) Slow transaction — Ethereum is too loo slow to run complete business over ethereum blockchain, business need very fast consensus.
b) High mining fee — Ethereum is designed in such a way that GAS will increase if transaction data size is increased. Usually business needs a huge amount of data in the transaction.
c) No privacy — Ethereum have no privacy, its problem for a business.
Solution with RBC: a) RBC would be capable of solving above-mentioned problems.
b) RBC guarantees that transaction cost and time will never increase with transaction data size.
c) RBC would provide privacy/ role-based access so that it can help business to solve the real problem
Benefits:a) Middleman is removed from the business
b)The cost to the customer is reduced (now customer need to pay only $105)
c)Entry to the business is now almost free which means businesses will have fair competition.
d)Transparent system for all the parties. e)Even small bus operator can easily go online.
e)Even small bus operator can easily go online.
BUS TICKET BOOKING BUSINESS IN INDIAa) The bus travel industry in India is unorganized and highly fragmented. It is a $120 billion annual turnover industry with a growth rate of 25% per year.
b) The online bus ticketing market is estimated to be $ 5–6 billion which is around 3–4% of the overall market.
c) Over the last decade, we saw an exponential rise in the number of bus ticketing portals in India.
d)Industry growing at a rate of 30% and estimated to reach $ 600–700 billion by 2018.
Thank you!
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