BitDrive: Blockchain Based Ride Sharing Platform
A decentralized ride-sharing application built on top of Ethereum blockchain that will disrupt the ride-sharing industry
CEO & CO-FOUNDER
A serial Entrepreneur and founder of many businesses, Mr. Abbas is someone with the passion for stellar service delivery in every field of business he has participated in for the past decade and a half. The Founder of Fashion Street Inc, he aims to bring real accountability and the best service delivery to ridesharing with the aid of the blockchain technology. As an unrepentant doer, he takes pride in delivering
and conquering every field he sets his eyes on, and ridesharing will be the crown of his enviable list of creations so far
Building something great from nothing has always been a passion of Hammad’s. A passionate believer in the role of technology to make our lives easier, and more enjoyable experiences, Hammad has been an active participant in the blockchain world for years now as an advisor, investor, and analyst for startups.
Hammad will be heading the business development end of Bitdrive as it seeks to take on all before it.
An Engineer by training, and a persistent problem solver, Usman has been an active figure in the blockchain world since the early days in 2010. Often described “blockchain believer” has been an active contributor to the creative ideas of literally hundreds of blockchain based startups, and is set to bring his vast experience, and unflinching belief to Bitdrive as it sets out to disrupt the disruptor the ridesharing is.
Prakash is a seasoned marketing specialist with laser-focused insight on how the cryptocurrency world works and how to get the best out of it.
With almost a decade worth of experience under his belt, Prakash is in prime position to create the exposure Bitdrive requires to become the dominant powerbroker in the global ridesharing industry.
Robbert is among the very exclusive group of people in the world with intimate legal knowledge on the cryptocurrency and blockchain worlds. He is an academic, a constant researcher, a legal mind of unmatched excellence who is bringing his treasure trove of experience within and outside the crypto world to make Bitdrive the trend
Victor is one of the truly visionary financial technology minds in our world today. Coming with years of experience building next-gen Fintech solutions from the
ground up, Victor has been consistently delivering for the Fintech industry and is currently actively participating in the creation and growth of over half a dozen companies around the world. Mr. Fredung is bringing his record of achieving in order to make Bitdrive not only a participant but an industry leader in the times ahead.
Krystelle is a super-ICO-advisor with unparalleled insight into how the industry works and has a number of achievements to her name for over 6 years since she
became active in the blockchain technology world. Krystelle is an active and highly respectable ICO consultant and is among the top digital marketing minds for the industry.
Experienced President with a demonstrated history of working in the non-profit organization management industry. Skilled in AWS, Requirements Analysis, Oracle Database, Agile Methodologies, and Spring Framework. Strong business development professional with a Master of Business Administration
- Crowdsale (50%)
- Insurance Reserve (15%)
- Rider/ Driver Incentives (12%)
- Founders Endowment (5%)
- Team (5%)
- Early Investors (5%)
- Strategic Partnerships and mergers (5%)
- Bounty program (3%)
- Promotions/ Marketing (30%)
- Innovation Fund (10%)
- State of art software development (5%)
- Asia Expansion (15%)
- European Union Expansion (15%)
- North American Expansion (15%)
- Legal Matters (Global) (10%)
Cost of the token1 token for 0.04 $
Price without discounts
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Estimate the project on a five-point scale or switch to the simple scale
Estimate the project on a simple scale or switch to the five-point scale
Relevance of the problem and Market size
Founders, Team & Advisors
Budget allocation and roadmap
Token economy, Tokenization & Business model
Distribution & Lock up of tokens, Discounts for early buyers
Summary rate the project
Rate the project by other users2
The project looks very techie and relevant as well as development plans, however, tokens distribution and funds allocation models could be improved in order to attract investors.
Risks and disadvantages
There are some doubts regarding tokens distribution and funds allocation plans considering the nature of the project, I would encourage to consider a reduction of the 30% token sale.
Great project, which should change the game on that market (car services) but some areas, including budgeting, could be reviewed and improved.
The main document - Whitepaper is detailed enough, containing tables and graphs. An important point is the compare with other similar projects, such as Uber, Taxify and others. Another advantage concerns crowdsale details. People can invest with different assets ( Bitcoin, Litecoin, Ethereum). Only 5 % of tokens are kept for the team.That share is small, so token rate cannot be easily manipulated.
Risks and disadvantages
Nothing mentioned about advisors and partners on the website. Roadmap has only 3 periods of platform development in 2018. Thus, they are outlined in quarters. It would be better in dates.
In my opinion, it would be difficult for the project to compete with its rivals, like Uber. As the platform is built on blockchain, lots of people are not aware of this new technology. It can influence on project progress.
What is Bitdrive
Bitdrive is a de-centralized ride-sharing application built on top of Ethereum blockchain that will disrupt the ride-sharing industry. The drivers and riders are the two most important people involved in this industry. Bitdrive aims to do just that, provide the drivers the rewards they deserve and the riders the convenience and affordability. By having a decentralized system, we will make it a fair, equitable and highly transparent domain of modern business where the drivers who are doing the actual work are rewarded.
How will Bitdrive use blockchain technology?
When the passenger or driver registers his/her information, we store the hash of that information on the blockchain and the actual information in a database using oraclesjs that listens to events on the Solidity smart contract. We value the information of our users and will make sure that no one will have access to this information. While registering on the app, the users also provide their crypto-wallet address so that whenever a passenger books a ride, the funds are directly transferred from the rider to the passenger. The driver will receive funds almost instantaneously. And finally the transactions is stored on the blockchain. By leveraging the power of blockchain, we will provide a very secure platform that is extremely rewarding for the driver and pocket-friendly for the user.
Why is Bitdrive doing an ICO?
At Bitdrive, we believe to challenge the norms in the industry using technology. We are doing the same at Bitdrive and we want to do the same with funding. We believe everyone, no matter what their geographical location around the world is, he/she should have equal opportunity in benefitting from what is soon going to be the next big thing in the exponentially growing ride sharing industry. By going for an ICO, people from all over the planet are offered an equal chance of making a sound investment in our platform and stand to reward greatly as the value of Bitdrive token appreciates with its increased adoption in the market.
Who will use tokens on the platform and why token value should go up?
The drivers and the passengers are going to use the tokens to perform the transactions. When a user books a ride, he/she will pay the driver using BTD tokens. Bitdrive will have a fixed number of tokens. With a fixed number of economic assets in circulation, every investor, driver and rider on the Bitdrive platform will be subjected to a fixed token economy. An example is if there are 10000 BTD tokens in circulation and they are used by 2000 riders to pay for $1 million worth of rides in a week, then it will be the same 10,000 tokens still in circulation that will be used to by 20,000,000 users to pay for $500 million worth of rides when Bitdrive expands as anticipated. This gives early investors a huge advantage on their investment while harming neither, the driver no rider on the actual fiat equivalent they get should they choose to liquidate their tokens for fiat money.
Where is Bitdrive incorporated?
Bitdrive is a fully registered company, incorporated in Belize under the name “Bitdrive INC” with Registration number: 170128
What makes Bitdrive ICO unique?
Bitdrive is fully powered by the awesome blockchain technology, completely unique from what is presently available in the industry. The platform charges a flat 13% fee which means drivers earn 87%. In addition to this, there are ZERO TRANSACTION FEES for users. In addition to this, Bitdrive is the first and so far, the only platform to offer an in-built decentralized option that protects the interest of both drivers and riders as they use the platform.
What is Bitdrive Autosurance?
Bitdrive autosurance will use blockchain technology to provide auto insurance to our drivers and riders. Whenever a driver or a passenger runs into issues with accidents, or any health emergencies. They can register their claim which is stored on the blockchain. The claim is immutable and are reviewed by our selected Jurors. This guarantees fairness in claims and the claim result is then stored on the blockchain as an immutable record. Our aim is to make sure that the customer is taken care of when it is needed the most.
How much will token cost during ICO?
Bitdrive tokens currently cost $0.04(4 cents) at the onset of ICO. We want both the big and small-time investors be given equal chance to be a part of the future of ridesharing.
What will happen with Bitdrive tokens if they are not sold?
In order to maintain a total air of transparency and to protect the value of investors’ money, all unsold tokens after the Bitdrive ICO will be burnt and can no longer be used by anyone else.
How would Driver First philosophy work, Benefits of it?
It is well known in IT field with developer first approach, the market will increase for the platform. Similarly, BTD's driver first approach will increase the number of drivers signing up as they earn more. This will decrease the fares around the market for using BTD so customers would be attracted. This is a chain reaction. With far less marketing this mechanism attracts more users.