[ANN] BitCab - Ridesharing 2.0 for the blockchain age

[BitCab]

Good afternoon. To my knowledge, using Proof-of-Work interferes with the scaling of blockchain. Why did you decide to choose this very approach?

Design decisions of PoW vs. PoS are implicit in choosing the base blockchain (such as ERC20) to build the app on top. We are in discussions with multiple well known platforms currently and plan to announce the decision in the coming weeks.

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[BitCab]

Today the companies offering to insure the tokens gain popularity. Does BitCab plan to cooperate with at least one of them?

Thank you, rdizza!
Those services are needed for the projects that require additional circulation of coins. CAB tokens will be used in the BitCab ecosystem and beyond, that is why the value will of CAB tokens will grow as the ecosystem grows

[BitCab]

Hi. Your model I very similar to Steemit so I’d like to clarify what are the main differences and what improvements exactly were invented by the Bitcab team.

Thank you for your question, g8stTDas
Our crypto economy is very similar to the Steemit (meaning that we have two currencies 1 CAB is always equial to 1 LT, where LT pays 10% annual bonus) and our system generates rewards for user's activity (Like steemit), However our business models are very different! BitCab is ridesharing platform with multiple roles while Steemit is the decentralized social network.
Tu sum up, we have created a solution for ridesharing industry using best practices of Steemit. We have created severaral roles {online/offline approvers (approve new drivers), sages (community support), arbiters (resolve disputes), champions (invites drivers and riders)} and the interaction of the participants.
Please, look here https://bitcab.io/images/work-img.png

[BitCab]

Today it’s incredibly difficult to retain the drivers solely due to financial motivation. How are you planning to solve this problem?

Very good question, spottcoin!
in addition to the financial motivation (generated rewards), that we believe is very important, Drivers will acctually be the "shareholders" of the ecosystem, meaning that the ecosystem will actually belong to its participants. They will activelly participate in the day-to-day life (voting, inviting friends, approving, community support etc.)
Does it make sense?
Please let us know if you have any ideas about Drivers' non-financial motivation!

[BitCab]

What’s the difference between LT and CAB? I’ve tried to read the WP, but it’s written in a too complicated way for a person who isn’t familiar with crypto-currencies at all.

Thank you for your question bars_kz!
The difference is very simple to explain.

• CAB token is a basic unit of exchange in the BitCab ecosystem. All the transactions will ultimately be setteled in CAB. CAB will be traded on exchanges.
• LT - is Loyalty Token. LT can be purchased for CAB on an internal exchange (1 CAB is always equial to 1 LT) and it pays 10% annual bonus if held beyond the vesting period. Moreover, LT gives voting rights

[BitCab]

Good afternoon. Lets’s say I want to exchange LT tokens to CAB on the internal exchanger. Will its rate be stable always?

Thank you for your question,
Sure, the rate is always 1 CAB=1 LT.

[BitCab]

Hi there. Will there be kinda internal voting mechanism in Bitcab? I’d like to make decisions related to the development of the project.

Thank you for your question, omorbalsamhill1
All ecosystem participants are also voters on important development decisions for the future of the ecosystem - with voting power proportional to LT tokens the voter holds

[BitCab]

Hi there. Aren’t you afraid that the local agencies working on the base of your platform will overtake you in terms of development paces?

Thank you MadduckUK,
BitCab is a trully decentralized ecosystem, which belongs to its participants.
Any local companies have shareholders that can not repeat BitCab business model and cannot overtake BitCab in terms of development paces

[BitCab]

Are the drivers fined for bad feedback left by the user? Or people aren’t always objective?   

Thank you, sinfazat22ron!
Surely the BitCab generated rewards will depend on the rating of the Driver.
If a Driver has a negative feedback than he gets lower reward.

[Verethraghna]

How do you ensure the quality of services and how do you plan to prevent unwanted accidents or events related with driver/customer?
Can you explain what makes your service better than that of uber or didi chuxing?

[BitCab]

Do LT tokens work in the same way as tokens in Steemit do? Or are there any differences?

Thank you for the question,
Our crypto economy is very similar to the Steemit (meaning that we have two currencies 1 CAB is always equial to 1 LT, where LT pays 10% annual bonus) and our system generates rewards for user's activity (Like steemit), However our business models are very different! BitCab is ridesharing platform with multiple roles while Steemit is the decentralized social network.

So the main difference is Roles{online/offline approvers (approve new drivers), sages (community support), arbiters (resolve disputes), champions (invites drivers and riders)}
and type of activity that will rewarded with tokens.

[BitCab]

How do you ensure the quality of services and how do you plan to prevent unwanted accidents or events related with driver/customer?
Can you explain what makes your service better than that of uber or didi chuxing?

Thank you for your question, Verethraghna!
 
We will ensure quality through the role of Arbiter (a role in the ecosystem that resolves disputes). Arbiter reviews user requests and complaints and recommends approving or denying the request. That means that in case of any accident Driver and Rider may form a request that will be reviewed by the Arbiter. Any unwanted accidents will result in fines and in dismissal from the platform.

Our service is better that that of traditional ridesharing apps because it strengthens loyalty of a Rider. A Rider is rewarded in Tokens for BitCab services usage.

[BitCab]

BitCab will build an effective business model in the ridesharing market that would not lead to horrible losses of shareholders as the ecosystem itself and its wealth will belong to its participants

Uber's loss jumped 61 percent to $4.5 billion in 2017
https://www.cnbc.com/2018/02/13/ubers-loss-jumped-61-percent-to-4-point-5-billion-in-2017.html

[yaowangz211]

It's a good project, but I'm a new member and I don't even know much about it. I hope this is a starting point for me.good luck:)

[scifilover]

If the driver immediately gets a 4.5 rating, and then he drops to 3.9 because of user feedback, he is deprived of the right to use your platform?

[ilcaramba]

Do drivers pay for the use of your platform? I hope that the relationship will be open, that is, no hidden commissions.

[defender77]

Good afternoon. So far, there will not be Approvers on the platform, how will the condition of the car be determined?

[Forspareparts]

Good afternoon. The course of fiat concerning tokens will be stabilized by the BitCab team or are you planning to send it to free swimming?

[ladozhskiy1995]

  i love to saw the development of this project, hopefully the team in this project can reach the target who want.hope your success,glad to hear more good news from htis project

[BitCab]

It's a good project, but I'm a new member and I don't even know much about it. I hope this is a starting point for me.good luck:)

Thank you!
To know more please watch our video that is very explaining
https://www.youtube.com/watch?v=-87nX81YfUc
And join our white list on https://bitcab.io/ and stay informed about the development of the project.