Ridecoin | ICO is currently in the Test the Waters Phase for Title IV investments.

Ridecoin | ICO

Ride sharing on the blockchain.

Large OPO
,
Transportation
Accepting International Investment

Initial Coin Offering

Ridecoin

A Disruptive Ride-Share Marketplace Driven by the Blockchain

Current ride-share services, such as Uber and Lyft, require all drivers and riders to transact through a middleman. This middleman sets prices and collects a margin, all while controlling the drivers directly and preventing them from knowing their passengers or routes before the ride begins. This has the effect of curtailing the amount that drivers can earn, while also driving prices up for riders.


At Ridecoin we want to turn the ride-share business model on its head by extracting the middleman and replacing him with a decentralized cryptocurrency. By bringing ride sharing onto the blockchain, we will allow riders and drivers to negotiate directly with one another. This will have the effect of lowering costs while putting control back where it belongs: in the hands of users!


In less than 10 years since its inception, the ride-sharing industry has exploded, having reached a value of over $60 billion at present. The majority of this market is controlled by Uber, which owns $51 billion of the marketplace, with Lyft and smaller ride-share services making up the remainder.


The potential and performance of the market is readily obvious. However, monopolization and the inefficiencies that brings are preventing ride sharing from working as well for riders and drivers as it should.


Through a Initial Coin Offering, we hope to give you the opportunity to become an early owner in the next revolution in the ride-share industrySo, reserve Ridecoin Security Tokens today!

Ridecoin combines concepts from the ride-share industry with the technological benefits of a blockchain.

Two Types of Ridecoin Tokens

The Ridecoin network will utilize two separate and distinct tokens to provide services to its members:


  • The Ridecoin Token: This is a utility token that will be used for all day-to-day transactions.
  • The Ridecoin Security Token: Also known as a Ridecoin Certificate, this is a security that plans to be registered through the SEC and will be used to determine ownership and establish voting rights. 

Put another way, Ridecoin Security Tokens are just that -- securities -- where as Ridecoin tokens are not.

Ridecoin

Ridecoin Tokens are not considered securities for one reason: they cannot be purchased with the expectation of profit due to their inflationary nature. With substantial new Ridecoin Tokens minted every quarter, there is no expectation of profit.


The network utility token, Ridecoin, will be used in transactions between riders and drivers to post transactions to the blockchain. This token will be subject to significant and regular inflation due to the system’s built-in incentives, which require the creation of new Ridecoin Tokens every quarter. As a result, this token is not intended as a long-term investment and is therefore not a security.

Ridecoin Security Tokens

Ridecoin Security Tokens will be created and distributed according to funds raised during the initial coin offering. The genesis block of the blockchain will include the creation and distribution of the certificates to all initial backers. These certificates will provide voting rights for their holders and will automatically earn Ridecoin distributions quarterly.

A Closer Look at Ridecoin Tokens

End users will want to use the Ridecoin marketplace simply because it is the cheapest and best ride-share option available. These users do not necessarily care about making a long-term investment in the system. They just want to take a ride and use their normal, preferred currency.


To ensure that high usability is met, the end-user interface will primarily rely upon the local currency rather than upon Ridecoin Tokens themselves. This facilitates a high level of usability, as the Ridecoin -- which could be confusing to the lay user -- will remain largely behind the scenes. Users will not need to worry about their Ridecoin wallets, as currency conversion will take place automatically.


Whether a Ridecoin Token is worth $1 or $100, users will be able to see the cost of the ride expressed in their preferred currency. Users are therefore insulated from short-term token volatility and can reap the benefits of the blockchain marketplace, all without any knowledge of the underlying technology which is creating those benefits!

Ridecoins Only Move One Way

However, just because the user experience will keep Ridecoins largely behind the scenes, that does not mean they aren't useful for the user. In fact, Ridecoin tokens can be converted into Ridecoin Securities Tokens. (Securities Tokens cannot be converted backwards, though.)


With Ridecoin, there is a consistent downward price pressure caused by inflation that must be balanced out. This balance can be easily achieved by allowing the purchase of Ridecoin Security Tokens with Ridecoins, as this creates natural upward price pressure. In this one-way market, Ridecoin will be destroyed and new Certificates will be created, helping to provide some price stability for the Ridecoin Tokens themselves.

How Ridecoin Works for Drivers

Ride share drivers are currently hired as independent contractors while being treated like employees, giving them the worst of both worlds. This culminates in a number of disadvantages for drivers:


  • They get no benefits.
  • They're beholden to the ride-share network while on the clock.
  • They cannot refuse rides without penalization.
  • They're not allowed to know their destination before pickup.
  • They're encouraged to work full-time due to bonus structures.

All of this essentially allows the top ride-share networks to enjoy all the benefits of having actual employees without having to treat them as such. Numerous lawsuits have resulted from this, some even leading to ride-sharing services being banned in certain municipalities.

Ridecoin will vastly improve a ride share driver's experience by allowing them to achieve the true independence they want. Ridecoin will continue classifying drivers as independent contractors, but by using the Ridecoin network drivers will:


  • Have the ability to negotiate their own prices
  • Be able to choose the rides they want to accept
  • Make any hours they choose, without meeting "bonuses"
  • Can use their knowledge of the local area without the network exerting influence over routes

But, the biggest advantage of all is the removal of the middleman from the ride-share equation. Without a big network reaching into a driver's pocket, all drivers will be able to take more home than they would otherwise be able to.

How Ridecoin Works for Passengers

Like drivers, passengers benefit first and foremost by the removal of the middleman and the subsequent margin. Ride-share passengers are very price sensitive, and Ridecoin offers a more competitive price through the marketplace’s direct pricing. 


Another advantage that Ridecoin presents to riders is flexibility, which will in turn keeps prices down. Riders who are fine waiting for their driver to arrive can negotiate a lower price. Likewise, drivers may be willing to accept lower rates for shorter trips. The flexibility of the system creates price advantages of which riders (and drivers) can take advantage.


Finally, Ridecoin will feature a robust and flexible incentive structure, similar to the free rides enjoyed by new users on other ride-sharing platforms. In addition, rewards for long-term users will be a possibility with thanks to the very nature of the Ridecoin network.

How Ridecoin Works for Owners

While drivers and riders deal exclusively in Ridecoin Tokens, owners in the network deal in Ridecoin Security Tokens, also known as Ridecoin Certificates. As discussed above, we plan for these tokens to be SEC-regulated securities that reflect a direct investment in the Ridecoin network itself. We intend to file a Form 1A with the SEC.


The ownership of Ridecoin will be widely distributed, making it far less susceptible to the whims of a small cadre of VCs. Moreover, because the distributed ownership model means there is no Ridecoin executive, there is far less risk of scandal driving down the price of the underlying security.


Owners will have voting rights in accordance with their ownership of Ridecoin Security Tokens. In turn, they can guide the direction of the network, deciding what markets to expand into and even how to incentivize Ridecoin Tokens for drivers and riders.

How Ridecoin Works for the Public

Although the public certainly enjoys the convenience of services like Lyft and Uber, there can be no doubt that these large corporations have negative impacts on the communities in which they operate. Oftentimes, these corporations strong-arm their ways into communities, pursuing policies that are beneficial only to them, placing community leaders and the public at odds with one another.


Due to the decentralized and open nature of the blockchain, Ridecoin obviates this frustrating issue and returns to control back to communities. Local groups can leverage all of the information available publicly through the blockchain in order to pursue legislation and policies that work best for their communities and not the ride-sharing service itself. Put another way, Ridecoin is a ride-sharing service that can actually serve communities rather than demanding to be served by them.

Incentivizing Ridecoin

A new ride-share platform has a significant user-acquisition cost, as it takes time and effort to join. Riders and drivers have to download a new application, upload personal information, and become accustomed to an interface they’ve never used  before. For this reason, it's necessary to incentivize.


For riders and drivers, Ridecoin will spread out the initial incentive over multiple rides. This has the effect of increasing the perceived value of the incentive, while also encouraging riders to develop the habit of using Ridecoin itself. Ridecoin will also utilize an "affiliate" incentive program through which both riders and drivers can invite their friends to participate in the network, with both receiving a bonus as a result.


To ensure that both of these incentives are only available to new users, an escrow agent will be necessary. This agent will be chosen through a vote conducted by Ridecoin Security Token holders.


During Ridecoin’s infancy, the top priority will be to achieve network growth. The incentives described above reflect and can achieve this.

Ridecoins will be created and distributed quarterly. The initial distribution will be 45% to new drivers, 45% to new passengers, and 10% to Ridecoin Security Tokens holders. After the initial ICO, Ridecoin Security Tokens holders will have the opportunity vote on distribution.


This flexibile system adds another benefit. On a quarterly basis, Ridecoin Securities owners have the opportunity to vote on and create additional incentive systems. These new systems can be used to either draw in new users or to retain existing ones. 


Likewise, this quarterly distribution model allows owners to adjust the quantity of Ridecoin Tokens released. This in turn controls the inflation rate of the Ridecoin marketplace.

Reserve Ridecoin Securities Today

While services like Uber and Lyft have significantly altered the very nature of transportation, there's no denying that further evolution is necessary. By putting a ride-sharing service on the blockchain, Ridecoin has developed a way in which ride sharing can evolve to the benefit of riders and drivers alike.


But, improving ride sharing in this manner doesn't only benefit riders and drivers. By reserving Ridecoin Security Tokens, you have the opportunity to reap the financial benefit of a massive disruption to the ride-sharing market.


So, reserve Ridecoin Security Tokens today, and become a part of the next big thing in transportation and on the blockchain!

NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOTBE ACCEPTED. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CANBE RECEIVED UNTIL THE OFFERING STATEMENT FILED BY THE COMPANY WITH THE SEC HAS BEEN QUALIFIED BY THE SEC. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE DATE OF QUALIFICATION.


AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. 


THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,”“INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLYAS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

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