DRIFE Company: WHAT IS DRIFE & WHY ?
Introduction
WHAT IS DRIFE & WHY WE KNOW WE'LL BE THE NEXT BIG THING?
DRIFE is a decentralized ride-hailing platform powered by blockchain with the intent of empowering value creators and extractors within DRIFE ecosystem – these include the drivers, Commuters, and developers community. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions.
**Why are we important?**
In less than a decade, over 1600+ cryptocurrency platforms built on the premise of the blockchain technology now exist.
New startup enterprises, great innovative technologies, and improved scalability features from the original blockchain have elicited awe. However, more than 90% of these projects lack practical application or utility. Most of them are created as sub-chains or sidechains leveraging the power of more efficient systems. Despite the opportunities being accorded by the blockchain enterprise, adoption for most of these.
Where will DRIFE operate from?
_We will initially launch our services in Singapore, India, London and Middle-East and then other parts of the world.
Is there a token for DRIFE?
*Yes. Its symbol is 'DRF'.
Is the token supply limited?
Total supply of 325 million DRF tokens will be released on the 1st day of product launch. After that, additional tokens would be generated deterministically and democratically after every period.
What is the price of 1 DRF token?
1 DRF token is worth $0.25. Please refer to the ICO sale discounts on the website for more information.
How do you use the EOS.IO software of EOS Blockchain?
DRIFE is a dApp hosted over EOS Blockchain with EOS.IO as their core software. It introduces a new blockchain architecture designed for decentralized applications. It is an operating system-like construct upon which applications can be built. DRIFE utilizes the EOSIO software to access multiple features - send/receive transaction(s), compile and deploy smart contract(s), vote/unvote for Block Producer(s), delegate/undelegate EOS tokens for EOS resources - RAM, CPU, NET Bandwidth, in order to provide ceaseless operations in terms of ride-request from passengers and ride-allocation to drivers based on the amount of ride limits owned in proportion to the amount of DRIFE tokens (DRF) staked.
Why does DRIFE need a Blockchain?
DRIFE is aimed at providing a complete transparent system in terms of cost-structure, incentive payment, Code documentation, community decision-making and so forth. Blockchain provides the following features, which are relevant to our platform: * Security - All payment wallets are entirely secure now using cryptographic solutions. * Tokenization - Now, the money can be programmed (create, issue, transfer amount) based on the decisions taken by the community members. In terms of incentivizing the drivers, commuters, developers, the payment is dependent on the amount of contribution. * Governance - Decentralizing the power has been an endeavour from centuries. Now, workforce-management has been made easy through continuous monitoring of activities i.e. Transparency. Election of moderators (representatives from drivers, commuters, developers) are completely dependent on the voting process.
___Payment Processing Flow : ___
DRIFE will allow payments via cash, cards, and DRF tokens. This gives the commuter access to different payment options and choice. For every trip, the fare is paid 100% directly to the driver and thus, ensures that DRIFE has no hidden cost, charges or commission. This 100% fare payment to the driver offers major cost benefits when compared to competing ride-hailing systems, and returns all revenue back to the community where it belongs.
___Token Allocation Forecast : ___
___Distribution : ___
Funding allocations
___Major Components : ___
Take a glance at the four major components of DRIFE that makes the project stand out.
No Commission
RIFE aims at shifting the focus from the existing commission-based platforms to a decentralized network with a new economic model, where 100% of the fare paid by ‘commuter’ goes directly to the ‘Drivers’.
Incentivise Social Platform
DRIFE provides additional incentives to its network users contributing towards the platform’s betterment through social interaction and network building.
Governance
DRIFE believes in a democratic engagement of network participants towards financial and operational decision making for the platform.
Safety
DRIFE values the safety of the commuters and endeavours to carry out multiple security checks on the drivers before on-boarding and whilst in service. DRIFE also provides infrastructure for broadcasting Emergency SOS signals within the community to solicit help.
GET Architecture
Built over the EOS Blockchain, our architecture leverages three unique properties of the parent chain:
DRIFE Architecture: The GET model
Built over the EOS blockchain, DRIFE architecture leverages three unique properties of the parent chain:
1- Decentralized Technology and Economics
2- Staking Economic Model
3- Speed and High Performance
The GET model will ensure that DRIFE community is well incentivized to build the ecosystem for the next generation ride-hailing platform.
___Governance : __
Every nation has their laws/rules written on the constitution. Any change to the constitution can only be done by the representatives elected by the citizens. DRIFE believes in a democratic voting mechanism depending on the number of tokens staked at that moment. More the tokens staked, higher is the weightage of voting. This is followed during any decisionmaking. The voting should not be influenced by any campaigning like activities for a decision, violating the constitution's laws.
Economics
It encDRIFEages active participation from the community members towards contribution by incentivizing them proportionately. Monetary interest would keep the drivers active all the time. For a driver, the incentive (in DRF token) is additional to the fare-perride. On the other side, the commuters shall pay the fare either in
DRF token or other token/currency. If the fare-payment is done in DRF token, then the incentive (in DRF token) is rewarded based on the commuters' behavior for that ride. DRIFE-Economics has token-allocation program to incentivize the discussions among the drivers and passengers on social platform for lifetime. This would help in bettering the platform through highlighting the flaws and finding a good solution relatively.
Technology
It plays the role of an infrastructure available for drivers and Commuters to exchange rides. And Blockchain is the medium to achieve decentralization on DRIFE platform. All forms of request are executed through different contracts like payment, rideaccess. As the platform scales among users in the market, there is going to be huge amount of data generated, stored on EOS. The need of recommendation would grow rapidly which can be handled very easily using Artificial Intelligence (AI), Machine Learning (ML) models. Eventually, DRIFE would be an amalgamation of Blockchain and AI technologies.
ICO Model
DRF tokens will be pegged at the value of $0.25 USD
50% of token supply in ICO for sale: 162,500,000 DRF
Soft cap: 32,500,000 DRF (20%).
Hard cap: 162,500,000 DRF (100%)
After the ICO these utility tokens are not just restricted for services but also sold on exchanges.
The Driver and commuters bonus tokens are to encourage loyalty from DRIFE customers, this will be distributed in form of free miles to the early adopter of DRIFE APP for commuting, and this is given to both commuters and drivers for adding new people to their network.
TOKEN SALE WILL OCCUR IN THREE STAGES:
Presale: Discount Rate-20%:
Total No. of DRF to be sold => 32.5 Million
Main ICO I: Discount Rate-15%:
Total No. of DRF to be sold => 65 Million
Main ICO II: Discount Rate-10%:
Total No. of DRF to be sold => 65 Million
Token Allocation
Overall, 325,000,000 tokens will be released. The hard cap of the tokens for sale is 50%. The remaining 50% of total emitted tokens will be divided amongst the Private sale (10%) Social Incentive (10%), Development pool (5%), Team members (5%) founder (10%), bounties and Airdrop (3%), Referral, Rewards and Bonus-5%, Advisory (2%)
Fund Distribution
All funds contributed as part of the pre-sale will be used for development, testing and release of Minimum Viable Product (MVP). Furthermore, these funds will be used to support community building campaign ns.
Funds contributed as part of ICO will be spent on rolling out the final version of the platform and its mainstream adoption. Areas on which ICO funds will be spent include product enhancements (including bug bounties), 3rd party audits, testing, marketing and reserves for any possible contingencies. Break down of funds that will be spent on each area can be seen in the given chart to the left.
The Roadmap
Q1 - 2018
Platform Idea:
1- The idea of Decentralized Taxi
2- Conversion of idea into Business Plan
3- Community Development.
Q2 - 2018
Design
1- Website launch
2- Listing of Drife to EOS index & other EOS projects
3- Social media profiles.
Q3 - 2018
Preparation
1- Listing Drife
2- DRIFE Technical Architecture on EOS Blockchain.
Q4 - 2018
ICO Preparation
1- Pre-sale
2- Demo version of Dapp
3- Drife campaign
Q1 - 2019
Pre Launch & Exchange Listing
1- Beta version of Dapp & Drife launch
2- Exchange Listings
Q2- 2019
Launch
1- Drife to go live - Phase 1
Q3 - 2019
Phase 2 Launch
1- Drife to go live - Phase 2
Q4 - 2019
Phase 3 Launch
1- Drife to go live Phase 3
Q1 - 2020
Expansion
1- Growing Globally
2- Enhance Technology
Drife Team
Firdosh Sheikh : Co-Founder & CEO
Surya Ranjith : Co-Founder & CFO
Wadad Kafka : Chief Evangelist
Debraj Ghosh : IT Infra Consultant
Mudit Marda : Lead Blockchain Developer
Rakesh Sahu : IOS Developer
Max Gravitt : Lead Blockchain Developer
Samarth jain : Legal & Compliance
Abhilash Verkey : Marketing & Research
Dolly Deval : Senior Marketing Manager
Syed Adil Nawaz : Product Designer
Jitendra Rathod : Chief Content Officer
The Advisory Board
DRIFE Partners
To contact DRIFE visit DRIFE website: https://www.drife.one
or write to us via email: info@drife.one
Phone: +44 20 3239 7766, +91 07821-257350
Whitepaper : http://bit.ly/2D0bZI8
Ann thread : https://bitcointalk.org/index.php?topic=5076512.
I invite you to join this Dedicated # Community HERE, as well as to follow they work on:
✅ Telegram Community: https://t.me/drife_official
✅ Twitter: https://twitter.com/Drife_official
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✅ Linkedin: https://www.linkedin.com/company/drifeofficial/
✅ Medium: https://medium.com/@drife_official
✅ Reddit: https://www.reddit.com/user/drife_official
✅ Github: https://github.com/DrifeCommunity/DRIFE/tree/master/contracts
Bitcointalk username: sagoza
Bitcointalk link : https://bitcointalk.org/index.php?action=profile;u=2561466