The ride sharing sector (formerly known as boarding and vehicle booking services) has grown exponentially in these recent years.
"Worldwide revenue of this sector is expected to be US $60bn in 2018 and expected to reach US $109bn by 2022.
According to reports from Statista, the global revenue of the ride-sharing industry will increase by 16.3% in 2022 while the user penetration is at 9.8% as of 2018, it's expected to reach 13.3% in 2022".
The percentage of US adult population using ride sharing services has also increased significantly. Now with the steady growth of human population; urban migration and immigration, including exquisite-job-rules and deadlines are all factors that have favoured the growth and demand for these services.
However, in response to digitalization, platforms like Uber, Careem, Easy, Yandex taxi, Grab, Didi, Ola cabs etc have built and introduced their Mobile Applications.
Life is made easier as riders now know your exact pick-me-up location and drop-off destination. Tight and busy schedules, school-runs, travelling, appointments are all settled with ride sharing services and you have nothing else to stress about.
Now that we all have reasons to use ride sharing services let's examine the features and potentials of the few leading brands in the industry.
We shall examine Uber, Lyft and IRide.
As a Rider/Driver
UBER
Provides an extra wide coverage/accessibility with an initial registration bonus.
You have service options to choose from (cars, SUVs, haulage etc).
You will pay taxes and commission fees and have insurance.
Your services are rated by riders and have no rating analysis (so always pray that several moody people do not rate you in sequence).
Having a low rating will reduce your income and if it persists, it's job termination.
There's no extra earnings for you though you can choose the duration of time to work (part time, full).
You need to behave according to your rider personality.
You have the prestige of working for a reputable enterprises.
LYFT
Has a limited outreach but a great number of users.
Registration bonus are attractive and commissions are not much.
You will need to work on your friendship qualities because it will help you acquire more tips.
So in the end you'll surely have something to take home.
IRIDE
Provides a very good coverage starting from Singapore to Asia, E.U, USA and more.
No commissions or fees charged.
You'll determine your ride fare though it won't be exorbitant because no-one is charging you and every transaction you make is traceable on blockchain.
You will get the appropriate ratings you deserved because audits are carried out.
You will be thoroughly verified possibly by Civic Network to ensure your credibility.
You have the privilege of being the real you without any rudeness or embarrassement.
Just wear on your polite manners and enjoy your steady jobs.
You'll have the opportunity to grow a flexible individual retirement account.
As a Rider/user
UBER
Getting your ride is similar to requesting for a matchbox from the next door neighbour.
You'll have several classes of rides to choose from.
You can share ride fares with family and friends.
LYFT
You'll experience a fair price to rides.
You may get to discover new trends as your rider will be eager to impress and make you comfortable.
You are sure of comfortable and latest car models and also ride options.
You can share the cost of your ride with fellow riders through the App.
IRIDE
You'll enjoy extremely cheaper rides because your request is open to several riders and since the agreement is smart contracts locked, fairness, security and safety is assured.
You won't be able to transfer your aggression while rating IRide drivers because you give traceable reasons for your rating.
You are sure of cosy and exotic car brands and models.
You can select car options.
Use of the IRide tokens for payment will be more cheaper for you and shall attract more incentive and rewards.
SIMILARITIES
All three have Mobile Apps.
All three have ways of incentivising their users.
All three runs package deliveries.
Uber and IRide both run food delivery & insurance services.
Uber and Lyft are both based in San Francisco.
Uber and Lyft charge between 25-28% commission.
Uber and Lyft are both centralized.
Uber and Lyft accepts own token or fiat only.
CORE DIFFERNCE OF IRIDE
Unlike Uber and Lyft platforms, IRides' platform governing principles and user terms agreement has been embedded in a smart contracts and will only be upgraded but never manipulated so transparency is assured.
It is purely decentralised and blockchain built and is therefore the world's first blockchain grid, ride-sharing platform.
IRide app comes with wallet that supports other cryptos and a converter which enables drivers accept various payment options.
Both drivers and riders have the ability to rate each other's services.
IRide provides the opportunity for people to get digitally employed and served, thereby incorporating the use of cryptocurrency in everyday life activities.
The mobile app is quite easy to use and have a beautiful interface.
There's always that certainty that you will get affordable rides (for passengers)and steady earnings (for drivers) unlike any other platform.
The incidents of attacks, robberies and harassment of passengers during or after rides is not synonymous with IRide drivers because they are thoroughly verified and their details are available and readily traceable on the App and Blockchain.
Reaching a consensus with the community before changing events is real here and everything is transparent enough.
IRide Utility Token
IRide Network is backed by IRide tokens which is a utility token and ERC-20 based. Use of smart contracts, the elimination of middle men and offices Vs employees payroll has made the maintenance and management of IRide platform less expensive.
Though IRide does not charge commissions and percentages but the steady use and adoption of its token will make the token grow exponentially and increase in value and demand overtime.
Use cases
Climate change effects is now inherent and its intensity is becoming unpredictable. Engr. Zach has just lost his mom and is preparing for her burial. Jim, the first son, won't be going with the family members because he's writing his final exams. Engr Zach's family have all packed, ready to travel for the burial when they got an emergency call of an incoming flood event.
They became tensed. First, they have to repack, order for cabs, book for a hotel and go pick Jim from his dormitory.
Oh no please! Why these stampede and extra expenses? Engr Zach ordered his wife on important things to pack up while he makes ride-bookings.
He was sweating profusely as he struggled to decide which ride platform to choose without having to pay exorbitantly because of the situation.
Salsa his daughter came to his rescue when she handed him, her IRide Mobile App. His eyes bulged as he scanned through her transaction history.
Such cheap ride-fares for what he himself had been paying alot for!.
She confessed that all her school friends uses it and ever since she was introduced to its use, she has saved alot of pocket money. However on ordering, the cab fare were so cheap that Engr Zach ordered for two more (one for picking Jim, one for the family & luggage and the last one for their old widowed neighbour and daughter). Within few minutes, the two vehicles arrived and the drivers were even humane enough to help out with the luggages.
As they were almost done, the third cab drove in with Jim and his luggage.
The old neighbour was so grateful as she held Engr Zach by his wrist. Engr Zach in return grabbed Salsa's hand and tapped her shoulder fondly saying; "Your wise choice has saved us all". Salsa blushed and waved her hand saying "Thank you IRide for bringing our friendly Ride".
Both the IRide drivers and everyone else burst into laughter. They were so happy that they tipped the kind drivers after being dropped off at the airport.
Engr Zach was very happy that everything was settled quick and smoothly without encroaching on the burial money.
Summarily, I see great potentials and features in IRide. Though it's quite young but the expertise of the team, choice lists of exchanges and roadmap will certainly transform this platform to the apex in the next few years.
They have already started with an excellent mileage. The ICO is live now and I wish there's still some spots remaining as I won't like to miss this opportunity.
You all still remember the missed ICO of 2008 that is still reigning supreme till date?.
For more details about IRide.io check out
https://iride.io
https://twitter.com/Iride.io
Uber and Lyft details culled from;
https://googleweblight.com/i?u=https://www.investopedia.com/articles/personal-finance/010715/key-differences-between-uber-and-lyft.asp&hl=en-NG
https://googleweblight.com/i?u=https://rideshareapps.com/uber-vs-lyft/amp/&hl=en-NG