Cryder is a radical new concept in ride sharing. Often a completely decentralised, open-source platform that any passenger or driver can plug into. Perhaps most astonishing if it it lives up to its hype it will be completely unregulatable. Once live it could change the way we think about ride sharing forever.
Challenges Of The Current Market
The current on-demand marketplace is plagued with challenges. Existing players in the market with plenty of political sway like Taxi drivers can ensure that on-demand services are either banned or heavily limited. This in turn that passengers typically have to resort to either public transport or taxi services. Even the leader in the on-demand transportation industry, Uber, is only available in less than half of the countries in the world.
For passengers this has meant that transportation is very expensive on a cost per kilometer, service can be highly variable and wait times unpredictable.
There are a number of reasons why existing transportation solutions within the taxi and service car industry are not currently meeting consumers needs. Chief among these a limited number of licences available for taxi drivers and the high cost of acquiring these licences. The process of acquiring a licence can be time consuming and the requirements of maintaining that licence are intensive. This meets that there has been an undersupply of taxis relative to demand in most markets.
Challenges Faced By Existing Rideshare Companies
The growth of rideshare companies like Uber and Lyft has certainly been impressive. But, this growth has been with an almost equally large backlash from entrenched taxi services and regulators.
On-demand ride share companies are facing multiple lawsuits and regulatory challenges. In many key markets they have been outright banned. The uncertain regulatory environment for on-demand ride share companies means that it is impossible for shareholders to predict the future prospects for the companies.
Drivers have been reluctant to invest with a particular ride share company because it is unclear whether any specific platform will exist long term.
The problem of existing taxi companies and regulations isn’t the only issue facing these on-demand companies. There is also many concerns around privacy. These companies are highly centralised but also retain a large amount of financial and geo location data about their users. This makes this data both susceptible to spying from governments and criminals.
Why Cryder Is Different
Cryder isn’t aiming just to compete with existing ridesharing and taxi companies. Instead it is looking to create an entirely new self regulated industry where anyone is able to become an on-demand driver. This will be a completely decentralised marketplace where drivers can join without paying any fees. There will in fact be no third parties involved in the process at all. Cryder is simply the mechanism which will connect drivers with passengers.
No More Discrimination
In this new marketplace the only determining factor will be what you are willing to pay for a ride, and what a driver will charge you for it.
Passengers will not be able to see any other information about the person who will drive them. Likewise drivers won’t have any personal information about their passengers.
The only determining factor will be price. While this may mean less information for both parties, it also will mean complete privacy and the end of discriminatory practices.
Cryder Drivers Will Receive Up 80% Of Fees
Drivers who choose to drive with Cryder will be able to earn up to 80% of their driver fees. Compare this with Uber where drivers typically only receive 50% of the fees that they earn from driving. This will make it considerably more economical to drive with Cryder compared to any existing centralised on demand ride service.
Cryder Is Open Source
One of the primary concerns people have about working for ride sharing services is the possibility of them being shut down. With Cryder this will not be possible because it will be completely open source.
If the Cryder app was to be removed from the app store, then a developer could produce a completely new app for consumers to use.
Other software can be built on top of Cryder allowing the platform to expand and adapt according to developers and users needs.
Cryder Token Sale
Cryder will be issuing Cryder Tokens ($CDT). In total there will be 450 million $CDT issued. 50 million $CDT will be issued during the pre sale and the remainder during the main sale. 8% of all tokens will be locked up for a period of one year.
In order to ensure that there is broad public recognition of Cryder as a ridesharing solution 45% of the funds collected during the token sale will be used as a part of a marketing campaign. A further 35% will be used for the development of the Cryder platform.