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.
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.
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.
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.
Bitdrive is a fully registered company, incorporated in Belize under the name “Bitdrive INC” with Registration number: 170128
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.
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.
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.
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.
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.