[ANN] [ICO] PROVIDE: DECENTRALIZED RIDE SHARING (PRVD)
Provide is a decentralized ridesharing platform. Founded in 2014 as an Uber-for-X platform targeting large corporations in need of enterprise software. Originally, Provide was a way for companies to modernize their customer experience around the delivery of big-ticket retail items. The platform enables the provision of peer-to-peer services (think Uber-for-X), using Android and iOS mobile applications integrated with the platform. Our platform decentralizes transactional activity using the Ethereum blockchain to provide intrinsic transparency to consumers and service providers.
Our technology has been vetted by large enterprise for use in retail delivery by large retail corporations. By stripping away the enterprise functionality, we are releasing the core technology as a decentralized ridesharing platform.
Provide is issuing a utility token (PRVD) on the Ethereum blockchain. The PRVD token is the only means of paying for services in the Provide ecosystem, ensuring transparency for all transactions on the Provide network. The token will also be used to incentivize signups and referrals. An in-app exchange enabling credit card purchase is provided.
200 million provide tokens will be created, with 70% of the total supply offered to the public during the token sale. Tokens can be purchased by sending ETH to a smart contract or with a credit-card in the app or on the website. An airdrop program will distribute tokens to drivers as they sign up. A referral program will allow you to earn tokens for referring your friends.
The token sale will be capped at 100,000 ETH. These amounts assume a sold-out token sale at 1,400 PRVD per ETH. If the tokens do not sell out the total number of created totens will be less but the percentage allocation will remain the same.
Provide generates revenue from transactions which take place on its network. A 5% fee will be distributed to the Provide multisig when a transaction is completed. Compared to as much as 36% fees assessed by Uber and Lyft, this competitive pricing combined with our airdrop program will allow Provide to quickly capture drivers and take market share.
At $125 per driver per month, to generate $1M/month in revenue, we need fewer than 10,000 active drivers. To put this into perspective, there are more than 100,000 existing rideshare drivers in NYC alone, many of them currently using multiple ridesharing services like Lyft, Uber, Juno, Gett. Capturing a 10% market share in the first year is an achievable goal. Other ridesharing services have captured as much as 10% market share in less than a year. With our competitive model, we will take customers and drivers, offering large bonuses for signing up and completing a minimum number of trips.
Provide is a mature application platform capable of disrupting the Ubers and Lyfts of the world by leveraging decentralization afforded by blockchain. By facilitating decentralized peer-to-peer transactions, Provide is creating the transparency required to return the power to the participants in the sharing economy. Provide is unique because it has a polished user experience that will allow drivers to control their own fees, using blockchain technology to enable voting through the app on any changes in the fee structure.
There are in excess of 700,000 ride-for-hire pickups every day in New York City alone.
If Provide captures just 6% of the NYC ride-for-hire market, that would generate a monthly revenue of $1.58M. Thats in just one city alone.
1M per month in ridesharing and related services revenue is a conservative estimate. Provide projects a revenue run rate of $12M by Q4 2018, generating approximately $1M/month from PRVD transactions by December 2018.
The Provide app has already been released on the App Store for iOS. The Android app is in the final stages of development. Provide will launch in San Francisco. Proceeds from the token sale will be used to finish the development of the product and to aggressively market our platform within the ridesharing community.
Deliverables:
- Deploy app to iOS app store [ x ]
- Deploy app to Google Play store [ ]
- Acquire 10% market share in San Francisco [ ]
- Democratize platform fees [ ]
Incentives:
- $300 Driver Signup Bonus
- $65 Driver Referral Bonus
- $10 Rider Referral Bonus
For more information, see our whitepaper
https://s3.amazonaws.com/prvd-token/docs/prvd-whitepaper.pdfTo participate in the ICO, visit our website
https://provideapp.com