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The 411: Investment Opportunity: Removing the Middleman
Found on: https://www.startengine.com/ridecoin
A Disruptive Rideshare Marketplace Driven by the Blockchain
Ridecoin cuts out the middleman
• Passengers Pay Less
• Users Own the Data
• Drivers Work for Themselves
• Built-in Incentives for all Stakeholders
Ridecoin is proud to present the world's first truly decentralized ridesharing network. Blockchain technology enables a radical new form of business that works for the public, where the incentives of all participants are aligned to deliver the best outcomes for everyone.
Current rideshare services, such as Uber and Lyft, require all drivers and riders to transact through a middleman. This middleman sets prices, collects a margin, and owns all data for every user. When the middleman gets hacked, everyone's data is stolen. Meanwhile, drivers are compensated as independent contractors but are treated like employees, with no autonomy. It's time for something better.
Ridecoin turns this model on its head by extracting the middleman and replacing him with the blockchain. With Ridecoin, drivers and passengers control the transactions, own the data, and transact securely through a peer-to-peer network. Without a middleman taking a profit, Ridecoin passengers pay less, while having more customization and control. Meanwhile, drivers no longer have to chase bonuses or answer to their corporate overlords. Drivers are finally their own bosses who can use their local knowledge to their advantage.
The Fair Ride Company is a public benefit corporation founded to help the Ridecoin protocol flourish. Fair Ride will:
Create the Ridecoin protocol
Build the mobile application
Perform background checks and insure drivers
Exchange Ridecoin Tokens for Fiat
Never directly profit from Ridecoin transactions
Fair Ride is an open-source, open-algorithm, open-data company who's only mission is to help Ridecoin grow.
Cryptocurrency projects rely on two main groups for their success: investors who contribute capital, and users who bring utility through transactions. Rather than try to satisfy both of these groups with one token, Ridecoin splits functions for each group into two separate coins: Ridecoin Tokens and Certificates. This division of function allows each coin to maximize its usefulness.
The Ridecoin Certificate is considered a security which will be qualified by the United States Securities and Exchange Commission (SEC). Scarcity of Certificates protect their value over time. Certificates are designed with investors in mind:
Certificates can never be lost, stolen, or hacked
No public investment will be solicited until after SEC qualification
Certificate holders have voting rights to govern network growth
Certificate holders are paid weekly dividends in Ridecoin Tokens
Ridecoin Tokens are transactional, designed for day-to-day users. With an unlimited supply and excessive inflation, Ridecoin Tokens will not increase in value over time and are not investments. Instead, Ridecoin Tokens are designed only to be used in transactions:
Ridecoin Tokens are liquid and available quickly and easily
Will be used to post transactions to the blockchain
Can be converted to Certificates to establish value
Token inflation will be distributed to stakeholders as incentives
Ridecoin Token inflation is designed to drive growth to key stakeholders. To be a truly disruptive technology, Ridecoin can't afford to be just "a little" better than Uber & Lyft. With incentives built into the blockchain, Ridecoin delivers unprecedented opportunity to the transportation industry:
Riders and Drivers get free tokens to join
Loyalty rewards cement a long-term relationship
Investors earn regular token dividends for cash or free rides
Businesses earn tokens to develop and grow Ridecoin
While rideshare is the first killer app for Ridecoin, the protocol is designed to support any type of transportation transaction. In the long-term, Ridecoin will host many transportation service companies, each providing services that utilize the Ridecoin blockchain and Tokens. Rather than invest the time and capital necessary to build their own blockchain, transportation service companies can petition Certificate holders for Ridecoin grants to join the network. This monetary incentive will attract outside development in such services as:
Autonomous Vehicles
Cargo Transportation
Long-Haul Ridesharing
Public Transportation
And more!
With private funding in place, the Ridecoin team intends to accomplish objectives in five key areas. Each will have its own set of deliverables, offered here to help us build credibility with the community. We're excited to share Ridecoin with you, and our progress in each area will be publicly shared along the way. We're excited to hit these milestones and prove that Ridecoin will be the best ridesharing option on the market.
Jimmy Gorham
Co-Founder & CEO
Jimmy Gorham is a gambler who leveraged his success on the poker felt into a much more fulfilling career as an entrepreneur. As a real-estate developer Jimmy is investing in the future of Los Angeles by building small footprint homes to meet the requirements of the city's future residents. As a cryptocurrency trader Jimmy is an expert in blockchain technology and has become an advocate for revolutionary applications of blockchain across many fields outside of finance including health, education and politics.
Roger Miller
Co-Founder
With 20 years in the technology industry, 10 in the game industry, on 4 continents, Roger comes with a breadth of knowledge. Roger Miller has been on the leading edge of both server and client side technologies from factory automation to data cataloging to award winning games. He has worked with leading advertising agencies such as Ogilvy One, been a vendor for entertainment companies such as Disney and HBO, created solutions for BMW and Deloitte and been nominated for awards such as the IMGA. He currently runs a small studio in Bend, OR where he crafts quality software with care.
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