Thanks for your question Gamelander!

Any system has a degree of risk, but in BitCab it will be relatively minor. CAB transactions are fully on-chain and hence will be protected by normal blockchain mechanisms built into the blockchain we use (e.g., as any ERC20 token). Fiat transactions involve a different type of risk, but this is very much a solved problem - I cannot recall any major transaction hacking problems reported by Uber, Lyft or other traditional ride-sharing players.

Thanks for your question Gamelander!

Any system has a degree of risk, but in BitCab it will be relatively minor. CAB transactions are fully on-chain and hence will be protected by normal blockchain mechanisms built into the blockchain we use (e.g., as any ERC20 token). Fiat transactions involve a different type of risk, but this is very much a solved problem - I cannot recall any major transaction hacking problems reported by Uber, Lyft or other traditional ride-sharing players.

Thanks for your question notbad4day!

You are correct: for transactions in fiat there will be a commission driven by acquirer banks. We actually see this as a feature rather than a bug as it will nudge more drivers and riders to shift to CAB payments over time to reduce transaction costs.

Thanks for your question martbruce! A market maker in a particular token is simply someone who buys and sells the tokens on an exchange (internal or external; usually they would have both buy and sell orders active at most times earning the spread) thus creating liquidity. It does not require any licensing.

Thank you for your support jznsamuel! Don't hesitate to ask any questions you come up with as you go through the white paper.

Thanks for your question ggcript! That is correct for LT tokens (our long term vested tokens similar in essence to SteemPower tokens). This will encourage more participants to hold LT tokens thus increasing value and price stability of BitCab tokens. Let me quote from our white paper:

"As LT token holders are providing more secure, long term capital to the ecosystem, LT tokens are paid 10% p.a. bonus when held for at least 12 months (similarly to how banks pay higher interest rates to a term deposit than to a current account) paid to owner account monthly."

You can learn more about CAB and LT tokens in our video: https://youtu.be/-87nX81YfUc or on our website https://bitcab.io (video at the top of the page)

Thank you for your question askon!

The verification of transactions is automatic - to record transactions on the blockchain we will need nodes to verify and record these transactions, similarly to mining nodes for Bitcoin and Ethereum. How this will look in practice will in the end of the day depend on which blockchain we build our system on (current intent is Ethereum, but we are in discussions with development teams of multiple other protocols). But a Witness is just an owner of a computer node, it is not a manual process in any way.

Thanks for your question bars_kz!

Let me quote from our WP (https://bitcab.io/BitCab_WhitePaper.pdf page 12):

Great questions Odeoke, thank you. The current plan, as you have correctly guessed, is to use Ethereum blockchain. We have also been in discussion with Waves over the last couple months and might consider using their blockchain (it has significant advantage such as transaction throughput and speed) depending on when and how smart contract functionality is implemented on Waves.

Fiat will be available in select countries. Riders will be able to select in which currency to pay (CAB / ETH / fiat), and riders - in which currency to get paid. Then the transaction will settle in market prices on the back end if exchange is required.

We estimate about 6 months would be required to develop a fully functional platform. ICO will allow us to extend our developer team with more designers and coders and embark on this mission.

Thanks for your question gazman!

You are absolutely correct. First, BitCab will support payments in both fiat (local currency), ETH and CAB. This will enable faster adoption - as you have correctly pointed out, this will increase our target market in terms of both riders and drivers as not everyone is prepared to transact in crypto from the start.

The expectation is that most users will initially use fiat while a small group of crypto enthusiasts might use CAB and ETH from the start. The intent is then to migrate fiat and ETH users to using CAB. This will be achieved in four ways:
1. All ecosystem participants, in addition to direct payment between the rider and the driver, will receive long term vested incentives - LT (Loyalty Tokens) - for useful actions on the ecosystem (e.g., receiving 5 star feedback for a ride or providing community support). These LT tokens will vest over time and convert to CAB - hence people will receive CAB tokens to spend. Because they receive these tokens for valuable activities, it will be easier for the users to see its value, while vested nature will increase price stability.
2. Over time transaction costs in fiat and ETH will be increased to incentivize users on all sides of the transaction to shift to CAB.
3. Shift to CAB will be seamless: the app interface will be seamless and similar to any other ride sharing app (with more gamification to make it feel more like a new smartphone game than just a ride sharing app) with all the blockchain magic happening on the back end. A CAB wallet will be generated automatically and will be fully integrated with the app - resulting in use being easy with no particular technical / blockchain skills required.
4. Hype around cryptocurrencies will help drive adoption - drivers might initially be willing to do just some of their rides for CAB to get some some tokens without buying them for cash, and then increase their share of rides for CAB as they see low transaction costs, convenience and growth in the ecosystem.

Thank you for your question JohnEther! The bounty program is under development and will be announced towards the start of the pre-ICO.

Great question polonium84!

Referral program will encompass most roles on the ecosystem - not just Drivers and Riders, but also also Sages, Approvers and Arbiters. Basically if you refer someone, you will receive in perpetuity a % of all their positive contributions to the ecosystem - it does not matter whether these contributions include driving, riding, providing community support or all of the above.

Thank you for your question Sarul!

Here is a quote from our white paper ("All aboard the rocketship: How the ICO will work" section):
https://bitcab.io/BitCab_WhitePaper.pdf

You can find more details in that section of the WP.

Thanks for your question twothirtyfive!

This is definitely an opportunity down the line - partnerships with restaurants could unlock new use cases for CAB token and BitCab ecosystem.

Thank you bitcircle for a very thoughtful question.

Pricing will be defined by a simple algorithm with three inputs. By default average market price (updated from all transactions for a certain relevant time period) will be used for both riders and drivers for simplicity. However, every driver can alter this setting in the app by defining their minimum acceptable price, and a rider can do the same with a maximum acceptable price (note: they will not do it for each ride separately, but by changing a general setting in the app). The market will then settle similarly to how a bitcoin transaction settles - the drivers with the lowest minimum price will get matched with passengers first, and the riders with highest maximum price will get picked up faster. This will incentivize healthy competition and market pricing on both sides of the transaction.

Thank you for your interest kerafym!

We intend to launch BitCab globally with some countries prioritized for targeted marketing efforts and local fiat currency acceptance. You can find more details in our roadmap on pages 26-27 in our white paper: https://bitcab.io/BitCab_WhitePaper.pdf

Thank you for your question Dort!

Anyone can play Champion role, but some roles on the ecosystem will indeed require holding a deposit of CAB and/or LT tokens (such as Witness, Approver, Arbiter) to align their incentives with the interests of the ecosystem. To play these roles you can acquire the tokens in any way you want - by purchasing them in pre-ICO, ICO, on an exchange or earning them on the ecosystem.

Thank you for your highly researched, well founded and authoritative opinion gorbal We could never dream of reaching the heights of your standing in the world, and of course our co-founders like Arkadiy (a country manager at Uber), Andrey (a McKinsey consultant and tech executive), Vasyl (a long time blockchain and AI researcher) and others could never compare to the anonymous BTT user gorbal Linkedin profiles of team members are available in the end of the first post of this topic. Please keep sharing your infinite wisdom.

While Uber and other traditional ridesharing apps are limited by their economics to one time incentives, tokenization enables us to offer Champions a much stronger incentive - a sustainable income stream in perpetuity. It will also further align the incentives - this way Champion is incentivized not just to get their referrals to register, but to actually be active in the ecosystem. Here are current plans for incentivizing Champions:

• 5% of value of all transactions completed by all Riders and Drivers who registered on the platform indicating the Champion as the referral in LT in perpetuity
• 2.5% of same for 2nd level referrals (Riders and Drivers referred by Champions referred by the Champion)
• 1% of same for 3rd level referrals

Great question waitsummer!

We intend a 3-level referral system as we see Champions as the core growth engine of BitCab. You can find more details in our white paper in "A tour of BitCab ecosystem: token economics and rules" section.