[ANN] BitCab - Ridesharing 2.0 for the blockchain age

[ggcript]

Will the token holders that dont use tokens and don’t sell them receive a kind of dividends? This is quite a good concept for stimulation of paces of growth.

[BitCab]

Why is it impossible to automate the verification of transactions? Why should you involve the additional group of users?

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.

[BitCab]

Will the token holders that dont use tokens and don’t sell them receive a kind of dividends? This is quite a good concept for stimulation of paces of growth.

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)

[BitCab]

Interesting project and the team certainly seems very promising. Going to go through the whitepaper. Looking forward to more updates.

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

[martbruce]

Is it necessary to obtain a special license in order to become a market maker on your platform?

[notbad4day]

Okay, it isnt necessary to pay commissions when making transaction on your platform, but the banks will charge them with the liquidity suppliers, wont they?

[Gamelander]

Good afternoon. How are u gonna to protect the network from the hacker attacks? Anyway, u use fiat, and it makes the transactions attackable.

[woodcoin]

Hey there. Some drivers can provide fake info about the condition of its car. How are u gonna struggle against this? 

[dort]

Will the driver get additional reward for placing the links to his profiles in social networks?  It seems to me that this can increase the level of credibility of your service.

[g8stTDas]

Good afternoon. I see that u encourage the mutual help within the framework of the community, but will there be a traditional technical support service in BitCab?

[bars_kz]

Here’s a question on arbitration: what’s the minimum number of the platform’s participants that is necessary to come to a decision on a case? It’s obvious, that there should be several experts.

[BitCab]

Is it necessary to obtain a special license in order to become a market maker on your platform?

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.

[robinzzon]

Hi. How are u gonna motivate people to become arbitrators? This work is really nervous and i’m afraid that financial stimulation isn enough in this case.

[yamazikuza]

Interesting project. I will try to check this project.

[Veecker]

Will it be possible to use your platform in order to create a local service for search of drivers? The current level of taxi services in my town leaves much to be desired, and i’m ready to change the situation. 

[BitCab]

Okay, it isnt necessary to pay commissions when making transaction on your platform, but the banks will charge them with the liquidity suppliers, wont they?

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.

[BitCab]

Good afternoon. How are u gonna to protect the network from the hacker attacks? Anyway, u use fiat, and it makes the transactions attackable.

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.

[deort]

Good afternoon. Can one and the same user play multiple roles in the community? They don't seem contradictory to me.

[CAraBuss]

Hello. Does the weight of my vote depend on the number of tokens on my wallet? I believe that for each member should be assigned an equal number of votes.

[ro777jer]

Do you plan to cooperate with the vehicle service stations? This would solve two problems at once: verification of vehicle data and a small range of areas for the use of tokens.