This is good project but need more details of this white paper
We recently got some questions and decided to summarize it in faqs.
Problem:
Uber, lyft, grab, etc are giving a service which is expensive to customers and not good to drivers because their commission is too much.
Redcab Solution:
Decentralize the process and don't take a cut.
Result for community:
Cheaper rides for customers and more money for drivers.
Result for RedCab:
More people will use the app. which means more business to us.
How are we going to make money?
Use the customers' data, analyze it, and sell them tailored ads
Why blockchain? and Why a Token?
To give drivers a generated token to get them to drive with us, and to give customers tokens so they market us to their network.
Can we do it without blockchain?
Yes, we can, but the blockchain solution will lower our operating expenses and increase our investors return on their investment.
How would blockchain lower the expenses?
proof of driving will give drivers tokens when they drive so we don't have to pay them to keep our app open. (Operational expenses)
proof of marketing will give customers tokens when they refer our app to their friends and family so we don't have to spend millions on advertising (Advertising expensive)
why should people invest in REDC tokens now?
because the value of the token will increase when listed on exchanges
so is that a security token?
No! it is a utility token.
So why would the value increase?
Because the supply is capped, and it'll be used in everyday usage for payment in the app which creates organic demand on it.
Limited Supply+increasing demand=Value appreciation.
but what if no one used the app?
If you're going to work and need a ride and have two options. option 1 costs you $10, option 2 costs $9. it's a no-brainer what you will choose.
if you drive with uber and get paid $8 after they take their commission, and with RedCab you get paid $9. it is also a no-brainer what you will choose.
The app will work!
So what is the ROI if I buy REDC tokens now?
We can't predict the future, but a recent study suggested that the ICO investor makes an average of 82% gain. We might be in the same range.
What exchange will you be listed at?
We will confirm the name as we come closer to the listing date.
Please feel free to ask any questions you might have. it benefits you and the community. thanks
