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#Blockchain, #Energy/Transport All projects

Redcab: A Decentralized Global Transportation Platform

A fast forward company with a futuristic business model in the transportation space.

stage Ended crowdsale

3.7 Rating

by 5 users


    Team

    11

    Mohamed Mousa

    Co-Founder & CEO

    Walid ElGendy

    Co-Founder & CBO

    Asser Yehia

    Co-Founder & CTO

    Mohamed Ameen

    Co-Founder & Creative Director

    Fadi Nashed

    Founder & COO

    Amr

    Chief Trading Officer | Co-Founder At Bitpeaks.Com

    Anna Basters

    Community Manager

    Majed Morsi

    Media Content Creator

    Ragy Albeer

    Team Lead Front-End Development

    Hassan Hussien

    Animation Manager

    Hala Salah Eldin

    Senior Web Designer


    Advisors

    7

    Salma ElHariry

    Founder & CEO - SkaleUP Ventures

    Farooq A. Rahim

    Technical Advisor

    Alaa Gabr

    Advisor - IT Business Consulting - Dell

    Amr Tantawy

    Field Channel Manager - Oracle

    Ahmed ElShawa

    Support Escalation Engineer - Microsoft

    Yasser Ameen

    Senior Technical Engineer - Kaspersky Lab

    Mohsen Deeb

    Chief Executive Officer At Anzma|Tech




    Crowdsale details

    Distribution of tokens
    • Crowdsale (62%)
    • Reserved for Proof-Of-Driving & Proof-of-Marketing token generation algorithm (25%)
    • Team and Founders (9%)
    • Advisors (3%)
    • Bounty (1%)
    Budget allocation
    • Acquisitions and Partnerships (41%)
    • Product Development Marketing (29%)
    • Management & Advisory board (13%)
    • Admin and Operations (11%)
    • Legal (6%)
    Details Indicators
    Token Symbol REDC
    Full Token Name REDC Token
    Pre-crowdsale Start June 1st, 00:00 GMT+03:00
    Pre-crowdsale End June 21st, 00:00 GMT+03:00
    Crowdsale Start June 22nd, 00:00 GMT+03:00
    Crowdsale End Hard cap is reached or August 15th, 00:00 GMT+03:00
    Crowdsale Hard Cap Fixed, 24529 ETH
    Domain owner Individual

    Cost of the token

    2333 tokens for 1 eth

    Price without discounts

    Bonuses

    Pre-crowdsale
    Bonus Dates Minimum purchase amount
    22% June 01 — 21, 2018

    Accepted currency

    • Ethereum


    Rate the project

    Estimate the project on a five-point scale or switch to the simple scale

    Five-point scale Simple scale

    Relevance of the problem and Market size

    1 2 3 4 5

    Product competitiveness

    1 2 3 4 5

    Founders, Team & Advisors

    1 2 3 4 5

    Budget allocation and roadmap

    1 2 3 4 5

    Token economy, Tokenization & Business model

    1 2 3 4 5

    Distribution & Lock up of tokens, Discounts for early buyers

    1 2 3 4 5

    Summary rate the project

    1 2 3 4 5

    Rate the project by other users

    5
    Alexandr Gonchar August 16, 2018
    Rating of project
    3.7

    Advantages

    The project team tries to create a unique business model for balancing business goals and customer needs, supported by a powerful technical platform in the transport industry. RedCab is the decentralization of transport solutions for individuals, using Blockchain technologies for economical and secure transactions, it can save billions of dollars from the transport fees.
    Blockchain technology is considered to be the basis of the business model of the project to ensure transactions and the rapid conclusion of contracts; it is ideally combined with a common business model to deliver a decentralized and community-driven transport solution to the world, ready to serve individuals and support business.

    Risks and disadvantages

    The disadvantage of the project is poor awareness of companies that provide similar services in new technologies, and in particular in blockchain technology. In order for such projects to work well, it is necessary to integrate this platform in a large number of enterprises and, in addition, to involve a huge ecosystem of users, which will take a lot of time.

    Comments

    Now it is difficult to say whether this project will succeed, but it is clear at once that this can happen only in the long term. It's not enough just to declare about the use of blockchain technology, it is necessary that this technology be used by the masses, and then the system will work efficiently.

    Anne Bryn May 31, 2018
    Rating of project
    4.0

    Advantages

    The project offers more profits to drivers and more savings to customers. Beta version was launched in 2017, the service was tested, the first office was opened in Egypt, so it is already a working business.

    Risks and disadvantages

    Transportation services is a sphere where competition is high.

    Comments

    A good basis for the developing of the project is delivered. This startup is worthy of a thorough analysis, I think it may become a good opportunity for investing.

    Sofia Medda May 30, 2018
    Rating of project
    4.3

    Advantages

    A considerable market research was done. The Whitepaper is easy to read, it has many examples, which is very useful for a good understanding and I think it is always welcomed by investors. The Whitepaper contains a reliable business plan and explains marketing strategy and business model in a clear way.

    Risks and disadvantages

    Team's tokens are not frozen. They already have a working product though. Still, I think it may bring uncertainty to investors, which will affect a success of ICO campaign.

    Comments

    Referral program and market penetration mechanism are good tools, which will
    facilitate the growth of the business. I think this is a reliable project.

    Jordan Semanda May 29, 2018
    Rating of project
    3.2

    Advantages

    The time frame for carrying out the Pre ICO ICO are realistic and will bring up maximisation of the available market.

    Risks and disadvantages

    No information has been provided about the experience or knowledge of the blockchain technology by the team members. The token is atr high chances of facing depreciation because of the acceptance o one cryptocurrency.

    Comments

    The business module is relevant and it should target markets that haven't been explored yet.

    William Anderson May 29, 2018
    Rating of project
    3.5

    Advantages

    Engaging the potential investors through social media platforms is a wise idea because its a currently prominent and effective means of advertising. The token will be included on the exchange and this is a move to enable liquidity for the investors.

    Risks and disadvantages

    Red cab has competition from already existing transport providers that have a market being served already therefor getting a market share will be difficult and hence forth the profitability is limited. A delay in introducing the token on the exchange discourages the investors.

    Comments

    Red cap has a lot of work to do as regard to getting an efficient and productive market otherwise the business module is excellent.


    FAQ

    Frequently Asked Questions

    What is an ICO?

    An initial coin offering (ICO), also known as a digital token sale or crowd sale, is a way of
    raising funds from the public for the development of a product outside of the traditional VC
    world. Usually products are Blockchain-based technologies, but the crowd sale model is
    increasingly being used for other kinds of projects as well due to the fact that it's fast,
    secured and more community engaging.
    Each project creates a new cryptocurrency in the form of tokens, which are then sold to the
    public to raise funds for project development.
    If a product successfully completes their ICO funding goal, their tokens are distributed to
    those who bought them and they become tradeable on the cryptocurrency market. If the
    product itself is then successful, these tokens can potentially become very valuable (ex. this
    is what happened with ETH, the computing platform of the Ethereum’s Blockchain, which
    was originally sold to the public as tokens during the project’s own ICO).

    What are Tokens?

    A token is a digital asset that is sold to the public during an ICO campaign, usually for other
    popular cryptocurrencies, namely BTC or ETH, or sometimes directly for fiat currency.
    Unlike a cryptocurrency, tokens usually do not have their own Blockchain, but rather are
    hosted on another Blockchain, such as Ethereum’s.
    Once an ICO campaign is complete, the token developers can release the tokens on an
    exchange, where they can be traded and fluctuate in value, like any other cryptocurrency.
    Tokens can also have other functions that are particular to the product that issued them.
    However, tokens themselves do not necessarily give rights or equity to the
    product/company that originally issued them -- in that sense tokens are definitively not
    equal to shares in a traditionally structured company.

    What are the risks of contributing to an ICO?

    Like any crowdfunding campaign, it really depends on people believing in the idea and the
    business model, people should think of contributing to an ICO as a donation to a project in
    support of its potential development & Roadmap, and the tokens as a kind of reward for
    your support. However, in the case of an ICO campaign, your reward (tokens) has the
    potential to increase in value once the tokens are released and available on exchanges.
    Bottom line, if you invested; you need to get more people to invest and support as if you are
    the owner of the ICO. Please check our ICO terms & conditions available on our website.

    What are REDC Tokens?

    RedCab LLC is a company founded in 2016 as a car sharing platform for community and
    Business use.
    REDC tokens will be used as a utility token to pay for transportation fees, Business geo
    location advertising for businesses, and various other transactions within the RedCab
    decentralized platform.
    REDC tokens will be also credited to drivers’ and riders’ wallets through the Proof of driving
    and Proof of Marketing token generation algorithms.

    How do I know if RedCab ICO is worth investing in?

    We can’t help you with this question unless you carefully read RedCab’s whitepaper and
    understand the business model and how it works. Potential investors need to use all the
    information available to make their choice about contributing to RedCab ICO.

    Does RedCab have an MVP, or is it just an idea?

    RedCab LLC is a legal founded company with a fully functional and operating platform. Our
    on-ground operations commenced by late 2017. (Please check our 63 months Roadmap for
    more info)
    Our Mobile Apps are available for download for both drivers’ and riders’ clients from the iOS
    App Store and Google Play.

    How can I Invest in RedCab ICO?

    Our Token Sale Event will go live from June 1st 2018 12:00AM GMT till August 15th 2018
    11:59PM GMT.
    15% of Tokens will be sold in Pre-Sale and 40% will be sold in the crowd sale, with bonus
    available only during our Pre and Private Sales Only.
    A very limited amount of tokens is available during our Private Sale which is open till we
    start our Pre-Sale at June 1st 2018. After the successful registration on our website, and if you qualify for our sale; you will be
    provided with our Crowdfunding ETH address. You can then send your desired investment
    amount in ETH to our dedicated ERC20 smart contract address and it will automatically
    release the equivalent amount of REDC tokens to the same ETH address you used after the
    end date of our Token Sale Event. Please use MyEtherWallet or Metamask to transfer your
    funds and DO NOT transfer from an exchange (Please see our terms & conditions for more
    info)

    5 How do I get rewarded for supporting RedCab Community?

    We will list REDC tokens in major cryptocurrency exchanges after the Token Sale Event.
    (Exact names will be confirmed in Q1 2019 as mentioned in our roadmap).
    Because REDC tokens are built as utility tokens, it’ll be functioning in our app for day to day
    usage, and as the supply is capped, and demand is increasing as the network of users grows;
    Token value will appreciate over time due to simple economics of supply and demand
    inversed direct relation.

    6 I have fiat money (USD, EUR, etc.), how do I invest in RedCab ICO?

    You can visit any of the widely available exchanges available online that are accepting Fiat.
    https://changelly.com/ is one of the exchanges.
    You can also search on the internet for exchanges that provide similar services.

    What is the exchange rate of REDC Tokens?

    The exchange rate of REDC tokens during the ICO will be 1 ETH = 2333 REDC.
    Bonus of up to 40% applies only during our very limited Private Sale, and 15% during our
    three weeks Pre-Sale.

    What will happen if REDC hard cap is reached before the end of the token sale event?

    If the hard cap is reached before the end of the token sale event, ICO will stop and all
    allocated tokens will be distributed to contributors.

    What is the minimum value of contribution to get REDC Tokens?

    The minimum contribution is 0.1 ETH during our Token Sale Event.

    What is RedCab?

    RedCab is a futuristic Peer to Peer transportation company. Founded in 2016 and
    commenced on-ground operations in late 2017 in the Touristic City of Hurghada by the Red
    Sea. Mobile Apps for both the driver and rider clients were launched on both the App Store
    and Google play.
    We chose Red because it represents the people. Emotions and feelings are conveyed in red
    according to the Herrmann model of personality preferences. RedCab business model is
    based on building a healthy community with pillars of support, freedom, transparency, and
    of course making profits.
    Proof of Driving for drivers, Proof of Marketing for riders, Cabbi the AI powered road
    assistance for customer experience, Geo Ads as the business cash cow, and a decentralized
    transparent community for support; are the building blocks of our roadmap.

    Why is RedCab launching an ICO?

    RedCab is introducing a unique business model to gain a competitive advantage in a market
    dominated by centralized and massively funded companies. The Idea is to give the drivers
    100% of the fare, and incur only the cost on the rider without giving a cut to the middleman;
    hence decentralizing the whole process. Such approach has an exponential potential for
    growth due to its benefit to both parties, and the inability of other companies to compete
    along. To make profits as a company, we will be making use of customers’ behaviors,
    historical data and analyzing it to push Geo specialized and tailored ads to our riders. Such
    process requires some time in order to collate the data and make use of it. That’s why we’re
    introducing the concepts of Proof of driving and Proof of marketing to drive the network
    growth and expand in size. The concepts require the creation of a token that will be
    generated by an algorithm to support the supply and demand balance between riders and
    drivers, and that token must be listed on an exchange to give it value and consequently
    maintain the network growth. Therefore, we’re creating our REDC tokens on the Ethereum
    Blockchain, and launching an ICO to scale our operations and continue our roadmap that
    started back in 2016.

    What is Proof of Driving?

    The concept was inspired from Proof of Work concept in mining cryptocurrency, however
    instead of using the computing power of a CPU or a GPU chip to solve a block and reward
    the miners with fractions of the mined coin for their work, the Proof of driving solution will
    operate through an algorithm that measures the network supply congestion and adjusts the
    token/coin generation rate accordingly for the connected node, as long as the GPS chip
    installed on a smartphone/device is in motion and logging distance travelled. The app then
    multiplies the generated tokens by the percentage of successfully completed trips to ensure
    that drivers are actually accepting trips, moving people around and providing the
    community of riders with adequate supply of cars whenever required. Example>
    1) Driver A uses RedCab app to freelance. They receive 20 trips in a given day and
    completes all of them. Their fulfillment percentage is 100% now. (20/20=1) The total miles driven in that day were 200 miles.
    Let’s assume that the Driving rate of conversion on that day was 0.1 REDC per 1Mile.
    Their generated tokens for that day will be (0.1X200) X 100% = 20 REDC Tokens.
    2) Driver B uses RedCab app to freelance as well. They receive 20 trips in a given day and
    completes only 6 of them. Their fulfillment percentage is 30% now. (6/20=0.3)
    The total miles driven on that day were 200 miles.
    Let’s assume that the Driving rate of conversion on that day was 0.1 REDC per 1Mile.
    Their generated tokens for that day will be (0.1X200) X 30% = 6 REDC Tokens.
    The main idea behind the creation of Proof of driving is to motivate the drivers to keep our
    app open and accept offered trips so the supply hand of the scale is well balanced. The
    Token generation rate will be variable depending on the supply of drivers. The conversion
    rate will generate tokens faster as the supply becomes scarce, and decreases as more
    drivers are on the road slowing down the token generation rate as the network grows, and
    increasing its tradeable value consequently.

    What is Proof of Marketing?

    Proof of Marketing is based on a word-of-mouth referral strategy and it utilizes a similar
    algorithm to the one we will use in Proof of driving.
    The concept basically applies to Customers, and it rewards them with tokens as long as they
    are referring the App to their friends and family and as their network grows; they’re being
    rewarded for every mile driven by their referrals up to 3 levels.
    Example>
    Customer A uses RedCab App to move around. They refer friend X and Y to the RedCab App.
    Their X friend refers Q and W, and their Y friend refers K. Q refers U, and K refers P. Now the
    tree will look like this. Let’s assume that Marketing rate of conversion for that day is 0.1 REDC Per 1 Mile for Level
    1, 0.05REDC for Level 2, 0.025REDC for Level 3.
    Customer A is the Tree owner.
    X & Y are Level 1 referrals
    Q, W, & K are Level 2 referrals
    U & P are Level 3 referrals To make things simple, and for the sake of this example; we will calculate the generated
    tokens for Customer A only on that specific day.
    Let’s assume that on that day, Customer A Level 1 referrals (X & Y) used RedCab as
    customers and drove around for a combined total of 20 miles.
    Level 2 referrals (Q, W, & K) drove around for a combined total of 70 miles.
    Level 3 referrals (U & P) drove around for a combined total of 5 miles.
    Customer A will automatically get tokens corresponding to the below calculation.
    (0.1X20) + (0.05X70) + (0.025X5) = 2 + 3.5 + 0.125 = 5.625 REDC
    Now the above calculation applies for every customer’s tree up to 3 levels, and the Tokens
    generation rate adjusts automatically as the network grows. The more users on the
    network, the less and less tokens it generates. The concept was also inspired from Proof of
    Work concept in mining cryptocurrency, however instead of using the computing power of a
    CPU or a GPU chip to solve a block and reward the miners with fractions of the mined coin,
    the Proof of Marketing solution will operate through an algorithm that measures the
    network growth and size by number of connected nodes on the rider client and adjusts the
    token/coin generation rate accordingly for the connected node as long as the GPS chip
    installed on a smartphone/device is in motion and logging distance travelled through our
    app/dapp.

    Are Proof of Driving and Proof of Marketing an Invention?

    Proof of Driving and Proof of Marketing Concepts are registered intellectual property of
    RedCab LLC. Founders under registration number: 6239137959
    Registration can be verified online at https://www.copyrightregistrationservice.com/verify/

    Will RedCab generate an infinite number of Tokens to support Proof of Driving and Proof of Marketing?

    Total Maximum allocated Tokens that will ever be generated for Proof of Driving and Proof
    of Marketing are 25,000,000. (Please see our Token distribution details for more
    information).
    The algorithm will adjust the rate of generation for both concepts corresponding to the
    network growth to create equilibrium between supply and demand while appreciate the
    value of the Tokens overtime due to capped limited supply.
    Total Max supply of tokens that might ever be in circulation are 100,000,000 REDC Tokens
    with 62% offered in our Token Sale, 25% reserved for the P.O.D and P.O.M concepts, 9% for
    founders, 3% for advisors, and 1% for bounty.
    As tokens are being minted as being bought, any remaining amount from the token sale
    event will be burnt.

    To activate Proof of Driving and Proof of Marketing, Will RedCab start its own private Blockchain or will it be maintained on the Ethereum Blockchain?

    The decision to move to a private Blockchain for the RedCab platform to perform or to
    operate on-top of the Ethereum Blockchain is yet to be decided depending on technical
    feasibility.

    Can I mine REDC Tokens?

    Because the Proof of Driving and Proof of Marketing concepts are inspired from Proof of
    Work concept, you can say that when you drive with RedCab; you mine REDC tokens. Also
    when you refer your friends and the network grows, you earn tokens, so it’s safe to say that
    you’ll be mining REDC tokens when you drive and when you market it.

    Can I earn REDC tokens without driving?

    Yes! you can. Simply refer a friend and grow your network of RedCab users and sit to watch
    the Proof of Marketing concept generating tokens to your wallet while you contribute in the
    growth of the RedCab network of users.

    What will I do with those tokens?

    REDC tokens will be listed in major cryptocurrency exchanges after the Token Sale Event.
    (Exact names will be confirmed as mentioned in our roadmap).
    Because REDC tokens are built as utility tokens, it’ll be functioning in our app for day to day
    usage, and as the supply is capped, and demand is increasing as the network of users grows;
    Token value will appreciate over time based upon the simple economics rule of supply and
    demand inversed direct relation.
    And as our partners list grows, the tokens will be used in exchange of various other products
    and services.
    We’re also planning partnership with a certain startup (Name to be confirmed prior to Q2
    2020) to integrate a Decentralized Escrow Exchange for REDC Tokens to trade fiat currency
    in exchange of REDC within our dApp

    Can I get REDC tokens without buying it?

    The Founders allocated 1% for bounty. That’s 1,000,000 REDC.
    Make sure to join the conversation at our official Telegram channel
    https://t.me/RedCab_Bounty for information about our Bounty campaigns.


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