Many businesses are adopting blockchain technology considering it tremendous benefits. But nonetheless, majority are still very ignorant of what blockchain technology is. The first thing that strikes people’s mind whenever they hear about blockchain is cryptocurrency. Of course, most of the applications of blockchain is fashioned for financial transactions but blockchain revolves beyond financial transactions, it is indeed an epicenter of technological transformation.
The blockchain is transparent, it has no third party, it is fast in transaction settlements, it guarantees data security, it allows for decentralization of information and it is the technology of the future
One of the innovations that evolved through the blockchain technology is the Innovative decentralized ride-hailing platform BayRide
What BayRide Inc. Stands for
BayRide is an innovative and groundbreaking Innovation disrupting the ride-hailing industry through the utilization of blockchain technology.
BayRide first aim, is making sure that drivers are paid exactly what they are owed and that passengers are safe and secure from any kind of dangers during their rides.
How would that work?
Instead of having a centralized organization acting as a clearinghouse, everyone who wants to drive others around (Drivers) will attach that piece of metadata to their profile that is part of a blockchain. There would be locations served and other information such as reviews of the driver that could be added to the profile. Then, when someone requests a vehicle, the blockchain will filter out possible matches and deliver them to the rider who can request a ride. Then, transactions between the driver and rider will be processed on the peer-to-peer network.
BayRide Inc App
Now, blockchain-enabled technology is killing the Centralized ride-hailing industry, this is not only a possibility, developers of BayRide have already made it a reality. This ride-sharing app was created in response to one visionaire, Richard Rao, CEO Bayride with the intents of creating a more Robust Environment between drivers and riders, a protocol that will run and relies on Ethereum blockchain (smart contracts) that aims to decentralize not only currency but just about everything.
BayRide Inc. cuts out the middleman, making ridesharing industry decentralized and laissez-faire.
BayRide Inc will disrupt current market as penetrating to compete around all of current centralized business system. This peer-to-peer system brings the sharing economy into the ride-hailing economy system and empowers the individuals to create their own incomes unencumbered, in a multitude of ways, while expanding naturally and virally into markets that have thus far been inaccessible to centrally-run ride-hailing services.
BayRide Inc. is the FIRST ridesharing and ride-hailing mobile application that leverages not only the Blockchain technology, but also has a 0% COMMISION policy for its drivers and a NO-PRICE-SURGE guarantee for its passengers.
BayRide Inc Respond to Challenges In Ride-Hailing Services Industry By Using a Disruptive Innovative Approach
In every sectors, the challenge is always there to grow and to expand more and bigger. There are also challenges in ride hailing services industry although this sector has matured but as long as people need improvement and better ways in such services then it is becoming the challenges. Moreover there is technology which can provide solution to the challenges appeared in such case. In ride hailing industries, BayRide Inc team see the challenges then develop idea and concept by utilizing blockchain technology through such innovative approach. To know the challenges that has been being responded by BayRide Inc, here are presented below
Cryptocurrency as a payment system
Payments play a very important role in each business. It’s also an area that causes most of the headaches. Cryptocurrency, on the other hand, simplify those headaches significantly by reducing fees to a mere 1% and eliminating the need for extra hardware. which is a big plus.
Other benefits include and not limited to
Cheap and instant worldwide payments
Cryptocurrency is a new payment method based on blockchain technology.
By means of smart cryptography or encryption unique and divisible digital currencies are created.
The transaction costs of cryptocurrencies are low and payments can take place almost immediately and worldwide.
You can take cryptocurrency anywhere
Cryptocurrencies can be stored in a digital wallet (wallet) that you can manage from your computer, your phone or that you can store in a hardware wallet
Cryptocurrency is your own property
As long as you know the password / passphrase of your digital wallet, the crypto coins are completely under your management and ownership and no one else can use it.
Integrity of transactions
The trust for a transaction with cryptocurrencies is not derived from an institution as a bank but from the computer code of the specific cryptocurrency. A frequently heard term in the crypto world is therefore: “trust the code”.
High level of privacy
In order to be able to execute transactions through a bank, you are obliged to provide extensive personal information. For payments with cryptocurrency you do not have to provide personal data and the transactions take place anonymously.
Full 24/7 traceability of transactions
Each transaction within the blockchain is verified by a decentralized network of devices (called nodes), stamped on time and linked to the previous transaction, creating a chronological series of transactions.
RideNode™
As explained above RideNode provides a means of payment for riders through the use of blockchain technology which records and stores the data
for each transaction, allowing companies (and even Riders) to gain valuable insights, as
well as providing Law Enforcement a means of investigating incidents tied to a Driver
and/or Rider.
for each transaction, allowing companies (and even Riders) to gain valuable insights, as
well as providing Law Enforcement a means of investigating incidents tied to a Driver
and/or Rider.
RideNode is the first American Transportation Blockchain, that enables the ridehailing market to thrive beyond its limits in order to allow direct transactions between drivers and riders and provide security protection by implementing features like S.M.A.R.T.FARE™ and RideGuard™.
The ultimate goal of RIDE is to be the common currency for transportation industry.
With more than half of all US Residents using at least one ridesharing service, and a market value aimed at $220B by 2025, the value of ridesharing industry data is greater now than ever before and calls for a solution like RideNode Utilizing the blockchain RideNode can safely hold encrypted data that has been openly authenticated, referenced, documented as accurate and reliable.
RideNode Token Details
There will be 25,000,000,000 RideNode™ tokens generated. The RideNode™ ICO
crowdsale will consist of selling 40% of the total maximum supply.
crowdsale will consist of selling 40% of the total maximum supply.
IEO on p2pb2b
- Token name:RideNode
- Ticker Symbol:RIDE
- Token Type:ERC20
- Tokens on sale:10000000000
- Token Price:1 RIDE = $0.05 USD
- Accepted currencies:BTC/ETH/USD/UDT
- Soft Cap:$5,000,000
- Hard Cap:$500,000,000
- IEO Period: 11/22/2019 to 02/14/2020 (4 sessions)
The RideNode IEO FINAL SESSION - SESSION 4 begins starting 01/31/2020!!!
Special offer, Let's get your family going digital!
For Wyoming, USA residents ONLY!!!
The RideNode™ team has been assigned to secure a digital currency wallet for ALL Wyoming residents. This would mean that all residents of Wyoming would have immediate access to digital assets securely.
Please enter your information and submit the required documents to receive your 2000 RIDEs at absolutely no cost to you!
Please enter your information and submit the required documents to receive your 2000 RIDEs at absolutely no cost to you!
Please contact us at admin@ridenode.io if you are a resident with children under 18 years of age.
To learn more visit any of the media below
Website:: https://ridenode.io/
Medium:: https://medium.com/@ridenodetokens
Telegram:: https://t.me/RideNodeGroup
Facebook:: https://web.facebook.com/RideNodeToken/
Twitter:: https://twitter.com/RideNode
LinkedIn:: https://www.linkedin.com/company/bayrideinc
Published by sarman_1
Eth : 0x8b5cEE0d380157786eD7ebb5dd788d5e7f44b25C
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