RedCab LLC, a decentralized peer-to-peer transportation solution which is powered by blockchain technology is now listed on Tokyo-based Japanese cryptocurrency exchange, Bluebelt.
With services geared towards both individuals and enterprises, Bluebelt is regulated within its international markets and boasts consistently quick trade execution, strong wallet protection, and high-level security and maintenance practices.
Boasting a research team that has spent around a year gathering information, finding gaps in the market, and assessing the viability of the business, it’s safe to say that RedCab has left no stone unturned.
With a minimum viable product (MVP) already in place and operating in Egypt, there are plans in the works already for expansion into Bahrain, the KSA, as well as European and Asian markets.
Whenever we hear about a transportation solution, most of us immediately think about the industry heavyweights such as Uber and Lyft, but the negative impact that such giants are having on the industry and the local community and workforce has been well documented over the years.
The Beta version of the RedCab mobile app successfully went live last year, with a soft launch that took place in a small location by the red sea, although the company itself was born in mid-2016 with the intention of solving many of the problems that both drivers and riders face.
RedCab has gone on record as saying that “our business model is designed to deliver 100% of the benefits to users versus 100% earnings to drivers and taxi companies through decentralizing the whole process.
“The performance matrix and rewards program for drivers is designed to ensure that every single ride gets the highest quality from a customer experience standpoint, while a psychological factor is subtly implemented to govern the customer satisfaction part, and processes are in place to ensure the safety of both parties.”
The truth is, there have been many start-ups appearing in the industry claiming to be the next Uber or Lyft, and some of them have seen success from a business standpoint, but few of them are as intent on solving the problem of social collateral damage that RedCab is.
This listing on Bluebelt seems like the next step for RedCab in establishing itself as something different and fresh in a space that’s seen a lot of copycat business models.
