[ANN][RMC]Ride My Car / Ride Share / Carpooling

[cryptor0th]

Just offering my 2 cents from a business POV

The success of this coin depends on a number of factors.
Lets break them down for the sake of constructive criticism and a mutual interest in economics.

Your coin will be able to attain scale only if individuals switch to using your monetary system as a means to accept and give payments for rides.
Existing players like uber, lyft, didi possess a massive monopoly in global markets and have been able to invest billions towards keeping away activities from unions and the likes. While ride sharing as a concept is fairly interesting - it includes changing the behavior of possible users. Now take into context the fact that uber is about to release self driving cars and we are increasingly moving towards machine to machine payments.

The total user base for your coin will rely on

-Those using crypto
-The fraction of people using crypto knowing your coin
-The fraction of people using crypto knowing your coin with other ride shares around / drivers willing to take the coin
-The fraction of people using the crypto knowing your coin with other ride shares around / drivers willing to take the coin with access to a wallet and coin of some value.

That, is a very small market. And unless and until you have atleast a couple million dollars to invest into acquiring users, those buying this token are going to end up sitting on another bunch of tokens that can neither be used for ride shares nor be traded.

Sorry, I do not mean to bash on you but do re think your strategy.
Feel free to PM me if you'd like to discuss this further.

Good analysis, you have a good grasp of the economics of business.

It's scary to think that other rideshare businesses have basically been burning cash continuously in an effort to reach mass adoption. You do have very good points here..

Thank you for the kind words Sir.
@OP - can you please explain what's going ?

Reposting.

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[1714933186]

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[1714933186]

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[loncryp]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

[DannyDisco]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

[titomane]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

[Zawamiya]

Just offering my 2 cents from a business POV

The success of this coin depends on a number of factors.
Lets break them down for the sake of constructive criticism and a mutual interest in economics.

Your coin will be able to attain scale only if individuals switch to using your monetary system as a means to accept and give payments for rides.
Existing players like uber, lyft, didi possess a massive monopoly in global markets and have been able to invest billions towards keeping away activities from unions and the likes. While ride sharing as a concept is fairly interesting - it includes changing the behavior of possible users. Now take into context the fact that uber is about to release self driving cars and we are increasingly moving towards machine to machine payments.

The total user base for your coin will rely on

-Those using crypto
-The fraction of people using crypto knowing your coin
-The fraction of people using crypto knowing your coin with other ride shares around / drivers willing to take the coin
-The fraction of people using the crypto knowing your coin with other ride shares around / drivers willing to take the coin with access to a wallet and coin of some value.

That, is a very small market. And unless and until you have atleast a couple million dollars to invest into acquiring users, those buying this token are going to end up sitting on another bunch of tokens that can neither be used for ride shares nor be traded.

Sorry, I do not mean to bash on you but do re think your strategy.
Feel free to PM me if you'd like to discuss this further.

Good analysis, you have a good grasp of the economics of business.

It's scary to think that other rideshare businesses have basically been burning cash continuously in an effort to reach mass adoption. You do have very good points here..

Thank you for the kind words Sir.
@OP - can you please explain what's going ?

Reposting.

Thanks for the analysis cryptor0th.

From the discussion in the thread, it seems that it will indeed be quite a challenge to get a meaningful amount of adoption without burning a lot of cash whilst trying to become a loss leader.
Some of the possible solutions to this have been to narrow the demographic and target specific use cases, I think someone mentioned University students for example.

I would like to mention however that the purpose of this pre-ann is to have this discussion and see how the direction I should take this project. Integrating crypto into a real life business model is never easy because as you say, it requires changing the behaviour of users who are already accustomed to other systems. In addition, the crypto demographic is already a very small subset of society as a whole and trying to get people to understand and use crypto is a challenge in itself.

I will say that the project much like crypto in general is still an experiment and I cannot guarantee that it will reach mainstream user adoption, but the lessons learnt will enable some aspects of crypto to be applied to this business model which I think is worth the effort. There are so many possibilities and yet one of the bottlenecks will always be the funding to make them possible.

I will put together a marketing plan after reading some more discussion and I will be happy to discuss ideas moving forward.

At this moment, I'm putting more focus on putting together a minimum viable product, after which, there is a possibility of approaching larger investors for the funding required to take this to the next level. I suspect that the larger part money spent will be in acquiring users, and you are very right in saying that this could be of the order of a few million dollars. There are however initiatives from governments around the world seeking to fund projects with some potential value. http://www.coindesk.com/uk-government-distributed-ledger-competition/ this is one I saw just the other day.

[titomane]

Just offering my 2 cents from a business POV

The success of this coin depends on a number of factors.
Lets break them down for the sake of constructive criticism and a mutual interest in economics.

Your coin will be able to attain scale only if individuals switch to using your monetary system as a means to accept and give payments for rides.
Existing players like uber, lyft, didi possess a massive monopoly in global markets and have been able to invest billions towards keeping away activities from unions and the likes. While ride sharing as a concept is fairly interesting - it includes changing the behavior of possible users. Now take into context the fact that uber is about to release self driving cars and we are increasingly moving towards machine to machine payments.

The total user base for your coin will rely on

-Those using crypto
-The fraction of people using crypto knowing your coin
-The fraction of people using crypto knowing your coin with other ride shares around / drivers willing to take the coin
-The fraction of people using the crypto knowing your coin with other ride shares around / drivers willing to take the coin with access to a wallet and coin of some value.

That, is a very small market. And unless and until you have atleast a couple million dollars to invest into acquiring users, those buying this token are going to end up sitting on another bunch of tokens that can neither be used for ride shares nor be traded.

Sorry, I do not mean to bash on you but do re think your strategy.
Feel free to PM me if you'd like to discuss this further.

Good analysis, you have a good grasp of the economics of business.

It's scary to think that other rideshare businesses have basically been burning cash continuously in an effort to reach mass adoption. You do have very good points here..

Thank you for the kind words Sir.
@OP - can you please explain what's going ?

Reposting.

Thanks for the analysis cryptor0th.

From the discussion in the thread, it seems that it will indeed be quite a challenge to get a meaningful amount of adoption without burning a lot of cash whilst trying to become a loss leader.
Some of the possible solutions to this have been to narrow the demographic and target specific use cases, I think someone mentioned University students for example.

I would like to mention however that the purpose of this pre-ann is to have this discussion and see how the direction I should take this project. Integrating crypto into a real life business model is never easy because as you say, it requires changing the behaviour of users who are already accustomed to other systems. In addition, the crypto demographic is already a very small subset of society as a whole and trying to get people to understand and use crypto is a challenge in itself.

I will say that the project much like crypto in general is still an experiment and I cannot guarantee that it will reach mainstream user adoption, but the lessons learnt will enable some aspects of crypto to be applied to this business model which I think is worth the effort. There are so many possibilities and yet one of the bottlenecks will always be the funding to make them possible.

I will put together a marketing plan after reading some more discussion and I will be happy to discuss ideas moving forward.

At this moment, I'm putting more focus on putting together a minimum viable product, after which, there is a possibility of approaching larger investors for the funding required to take this to the next level. I suspect that the larger part money spent will be in acquiring users, and you are very right in saying that this could be of the order of a few million dollars. There are however initiatives from governments around the world seeking to fund projects with some potential value. http://www.coindesk.com/uk-government-distributed-ledger-competition/ this is one I saw just the other day.

good stuff dev thanks for the updates

[hyunsookmom]

I'm all for an experiment, but so far i've taken a bit of a beating from ETH and DAO. What a mess that was.

Need me some rides! (Like that pun? hehe)

[fxmulder]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

[BCMan]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

Here, having attestation on the chain would be very useful. Making things like rating / identity immutable on the chain will help a great deal.

[CoinBateman]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

Here, having attestation on the chain would be very useful. Making things like rating / identity immutable on the chain will help a great deal.

Now we're talking.

How about going back to the idea someone else mentioned about a rental market for cars. Smart property, QR Codes to unlock etc.  That would be awesome.

[mruiter]

Just offering my 2 cents from a business POV

The success of this coin depends on a number of factors.
Lets break them down for the sake of constructive criticism and a mutual interest in economics.

Your coin will be able to attain scale only if individuals switch to using your monetary system as a means to accept and give payments for rides.
Existing players like uber, lyft, didi possess a massive monopoly in global markets and have been able to invest billions towards keeping away activities from unions and the likes. While ride sharing as a concept is fairly interesting - it includes changing the behavior of possible users. Now take into context the fact that uber is about to release self driving cars and we are increasingly moving towards machine to machine payments.

The total user base for your coin will rely on

-Those using crypto
-The fraction of people using crypto knowing your coin
-The fraction of people using crypto knowing your coin with other ride shares around / drivers willing to take the coin
-The fraction of people using the crypto knowing your coin with other ride shares around / drivers willing to take the coin with access to a wallet and coin of some value.

That, is a very small market. And unless and until you have atleast a couple million dollars to invest into acquiring users, those buying this token are going to end up sitting on another bunch of tokens that can neither be used for ride shares nor be traded.

Sorry, I do not mean to bash on you but do re think your strategy.
Feel free to PM me if you'd like to discuss this further.

Good analysis, you have a good grasp of the economics of business.

It's scary to think that other rideshare businesses have basically been burning cash continuously in an effort to reach mass adoption. You do have very good points here..

Thank you for the kind words Sir.
@OP - can you please explain what's going ?

Reposting.

Thanks for the analysis cryptor0th.

From the discussion in the thread, it seems that it will indeed be quite a challenge to get a meaningful amount of adoption without burning a lot of cash whilst trying to become a loss leader.
Some of the possible solutions to this have been to narrow the demographic and target specific use cases, I think someone mentioned University students for example.

I would like to mention however that the purpose of this pre-ann is to have this discussion and see how the direction I should take this project. Integrating crypto into a real life business model is never easy because as you say, it requires changing the behaviour of users who are already accustomed to other systems. In addition, the crypto demographic is already a very small subset of society as a whole and trying to get people to understand and use crypto is a challenge in itself.

I will say that the project much like crypto in general is still an experiment and I cannot guarantee that it will reach mainstream user adoption, but the lessons learnt will enable some aspects of crypto to be applied to this business model which I think is worth the effort. There are so many possibilities and yet one of the bottlenecks will always be the funding to make them possible.

I will put together a marketing plan after reading some more discussion and I will be happy to discuss ideas moving forward.

At this moment, I'm putting more focus on putting together a minimum viable product, after which, there is a possibility of approaching larger investors for the funding required to take this to the next level. I suspect that the larger part money spent will be in acquiring users, and you are very right in saying that this could be of the order of a few million dollars. There are however initiatives from governments around the world seeking to fund projects with some potential value. http://www.coindesk.com/uk-government-distributed-ledger-competition/ this is one I saw just the other day.

cheers for info

[fuddudle]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

Here, having attestation on the chain would be very useful. Making things like rating / identity immutable on the chain will help a great deal.

Now we're talking.

How about going back to the idea someone else mentioned about a rental market for cars. Smart property, QR Codes to unlock etc.  That would be awesome.

I wouldn't be comfortable having to do any form of KYC verification honestly, but I can see how this might be a necessity. Accountability is something really hard to tackle, as is anonymity, which go hand in hand. I've seen these car rental services called 'DriveNow', usually its a BMW i3 parked up and i assume you can use an app to unlock it. I think it's a service made by BMW, not tried it myself but it's definitely interesting seeing all these connected services now.

[SteemBit]

Let me know when and where we can get RMC I will post in my steem account

[Melds]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

Here, having attestation on the chain would be very useful. Making things like rating / identity immutable on the chain will help a great deal.

Now we're talking.

How about going back to the idea someone else mentioned about a rental market for cars. Smart property, QR Codes to unlock etc.  That would be awesome.

I wouldn't be comfortable having to do any form of KYC verification honestly, but I can see how this might be a necessity. Accountability is something really hard to tackle, as is anonymity, which go hand in hand. I've seen these car rental services called 'DriveNow', usually its a BMW i3 parked up and i assume you can use an app to unlock it. I think it's a service made by BMW, not tried it myself but it's definitely interesting seeing all these connected services now.

Believe it or not, AML and KYC is actually there to protect the consumers.

[Pikadoh]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

Here, having attestation on the chain would be very useful. Making things like rating / identity immutable on the chain will help a great deal.

Now we're talking.

How about going back to the idea someone else mentioned about a rental market for cars. Smart property, QR Codes to unlock etc.  That would be awesome.

I wouldn't be comfortable having to do any form of KYC verification honestly, but I can see how this might be a necessity. Accountability is something really hard to tackle, as is anonymity, which go hand in hand. I've seen these car rental services called 'DriveNow', usually its a BMW i3 parked up and i assume you can use an app to unlock it. I think it's a service made by BMW, not tried it myself but it's definitely interesting seeing all these connected services now.

in the US they have Zip Car. You use app to reserve car, then you can find one on the street near you and use your app to unlock.

[mattjack]

I'm not so interested in another Uber honestly. But for the sake of discussion, I would say that another model might work in regular bookings of trips.

Think about it, when someone needs to make the same journey regularly, they would normally take public transport, or drive their own car.  Now you can find someone who takes the same journey and book them regularly.

Yeah OP seens to be taking another route with some sustainable ideas. Hopefully will be able to build rapport with other commuters. Maybe a social platform or forum would be cool??

social platform and community participation will be the key to this project. Trusted rating system to ensure safe travel

I think feedback is key here. Perhaps some sort of mechanism to track feedback is needed? It would be pretty cool to be able to do this via a wallet!

Here, having attestation on the chain would be very useful. Making things like rating / identity immutable on the chain will help a great deal.

Now we're talking.

How about going back to the idea someone else mentioned about a rental market for cars. Smart property, QR Codes to unlock etc.  That would be awesome.

I wouldn't be comfortable having to do any form of KYC verification honestly, but I can see how this might be a necessity. Accountability is something really hard to tackle, as is anonymity, which go hand in hand. I've seen these car rental services called 'DriveNow', usually its a BMW i3 parked up and i assume you can use an app to unlock it. I think it's a service made by BMW, not tried it myself but it's definitely interesting seeing all these connected services now.

Believe it or not, AML and KYC is actually there to protect the consumers.

I don't like KYC either, but it's part of getting crypto to mainstream adoption. I think its a good thing, I don't know how RMC will handle identity but if it is to scale, then it is an inevitable step.

[yuriygeorge]

Erm, seriously would you feel comfortable sitting in somebody's car who you don't know the name of? Sure you have his reg, but even then how would you know it's not some crook who stole the car and is about to kidnap you?

[hunnaryb]

Erm, seriously would you feel comfortable sitting in somebody's car who you don't know the name of? Sure you have his reg, but even then how would you know it's not some crook who stole the car and is about to kidnap you?

That's where all the fun is though..

[Zentuple]

Erm, seriously would you feel comfortable sitting in somebody's car who you don't know the name of? Sure you have his reg, but even then how would you know it's not some crook who stole the car and is about to kidnap you?

That's where all the fun is though..

Err no thanks, I'd rather have them do some id checks n what not before I use it. I know crypto is all about being free and anonymous but that doesn't work here.

Would you trust your wife to use this knowing absolutely anybody could be behind the wheel?

[BCMan]

Erm, seriously would you feel comfortable sitting in somebody's car who you don't know the name of? Sure you have his reg, but even then how would you know it's not some crook who stole the car and is about to kidnap you?

That's where all the fun is though..

Err no thanks, I'd rather have them do some id checks n what not before I use it. I know crypto is all about being free and anonymous but that doesn't work here.

Would you trust your wife to use this knowing absolutely anybody could be behind the wheel?

Usually, Uber does a background check on all of it's drivers, I think something similar will be done here although maybe initially it won't.