RedCab Project Overview

foxicoreviews (61)in #cab • 6 years ago

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With rising traffic snarls on roads across the globe and more people are shifting towards cab aggregators and carpools in order to beat the rush and get to their destinations on time. This has lead to many firms joining in to provide their unique solution to the traffic problem and others faced in the industry.

Redcab is a futuristic business that aims to decentralize the transportation organisation utilizing blockchain innovation for affordable and also safe transactions. Redcab is flexible to accommodate varying fares in different countries and possesses a reliable penetration strategy through its loyalty and rewards program.

Mission

Redcab was developed on the basis of three questions - whether people want it, whether it solves a problem and if it is affordable. Redcab gives its users the following,

More profits for drivers and savings for consumers.
Network dominance by balancing reliability and supply.
A community-driven decentralized solution ensuring transparency.
An AI-powered assistant to provide a better user experience.

Services

Redcab has developed an innovative solution based on detailed research into customer trends and this affordable and safe model meets everyone’s requirements be they individuals, families or groups.

Cars are also categorized depending on the user's need and cuts across all segments with focus only on good travel experience.

Economy Cab - Focus on affordability. Lower fuel consumption implies lower fares. It is usually used for city or short trips.
Luxury Cab - Focus is on extravagance and luxury. Generally used when users want to arrive in style.
Family Cab - Focus on inclusiveness. Larger vehicles that can seat all member of the family, include special care for kids or senior citizens and is suitable for longer journeys.
Red Cab - The ultimate user experience in luxury Supercars that costs more and allows the driver to earn more too.

Business

RedCab has a unique model where money is not made off commisioning the rides and because of decentralization, the whole amount paid by user goes to the driver. The main source of income for Red Cab is personalized geo-ads where hotels, malls, and cafes, etc promote offers and products on the Mobile app depending on an algorithm that works using historical records of users. This helps provide users with a tailormade experience. Using technology to understand user's needs depending on behavior, routes, and preferences. This helps in maximizing profit generated by the platform. The network dominance model ensures productivity with revenue increasing along with popularity.

Services

Mobile App

The mobile app offers users the following - a global reach with compatibility offered with 6 languages and integration of local maps, a pre-schedule option for better planning, Carpooling to reduce traffic jams and costs with users paired on earlier behavior, luxury travel options for those that want an unique experience, and a Peer to Peer experience between user and driver that enables better profits.

Services

Other services that Red Cab offers include hotel recommendation options for users based on their personalities, delivery of retail products and food from restaurants, and pick up of items.

Deep learning & AI

The technical expansion of Red Cab is based on Deep Learning and AI with an emphasis on understanding user requirements, trends, and routes etc. Social media accounts can be linked to Red Cab and through a short survey, the Geo engine will complete a user profile.

Cabbi

Cabbi is an AI-powered assistant offered on the Red Cab platform to streamline the user experience. Using neural network technology, Cabbi can help with planning trips, visits, and meetings.

Cabbi also has suggestions for locations, information, wallet transfers and so which is the customized interface that Red Cab offers.

Technology involved

dApp or decentralized apps are applications run on blockchain or P2P networks and are outside the control of any one entity. Proof of work is a protocol that requires a feasible amount of effort to deter the malicious use of computing power. Modeled on this, Red Cab introduces two protocols Proof of Driving and Proof of Marketplace. Proof of Driving is a system that encourages drivers to drive people around and is based on an algorithm that generates tokens form reserved pool provided app is open and GPS tracks distance covered. Proof of Marketing is a referral model built on a multi-layered marketing solution and uses an algorithm similar to the Proof of Driving.

Incentives

Drivers are monitored and reports are filed based on which they are classified as high, medium and low performers. Customers are highly incentivized and have a Traffic light system of 3 colors red, yellow and green to indicate their status. Customers are awarded 5 points for each drop-off location set. Rewards are set for adhering to minimal wait time and deductions of 10 point are made for cancellations. 5 points each are awarded to users on submitting feedback and Net Promoter Score. When a user refers Red Cab to another, he gets reward tokens as long as the new user uses Red Cab.

Team

The core team at Red Cab comprises Mohamed Mousa -Co-founder and CEO, Walid ElGendy - Co-founder & CBO, Asser Yehia - Co-founder & CTO, Mohamed Ameen - Co-founder & creative director, and Fadi Nasheed - founder and COO.

Advisors to the board include Danny J Christ, Daniil Morozov, Farooq A.Rahim and Alaa Gabr.

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