We are pleased to announce that TDeFi has incubated Drife in its second cohort. Drife is a blockchain-based ride-hailing platform that is addressing the inefficiencies and privacy concerns in the major cab providers such as UBER, OLA and others. Since centralization is one of the pressing concerns in the modern world, Drife aims to establish a new mobility ecosystem where consumers’ privacy is reinforced and sustained while also enabling drivers to take away the income they rightfully deserve.
Dubbed as Taxi 3.0, Drife founded by Firdosh Sheikh, Surya Ranjith and Mudit Marda, is a true P2P network that works with the driver deciding the fare, and the user affirming if they would want to choose the ride. This way, both the rider and the driver encounter each other in a shared community as opposed to a centralized platform that harnesses users data and chugs on the drivers’ profits. Drife thus puts an emphasis on a fair economic model wherein all value creators can incentivize each other in inequitable terms. To add a ring of authenticity to their vision, Drife compels facial recognition for drivers to provide maximum safety and assurance to its users.
TDeFi – an accelerator for DeFI projects backed by Tradedog Advisory– is keen on leading initiatives to make Drife the next go-to platform for booking rides with decentralization at the heart of operations.
How Drife works?
The Drife dApp is built on the Aeternity blockchain with its own DRF token that can be staked on the platform for availing Drife’s services in a subscription-based program. Drife uses smart contracts, which will be executed across Ride, Fare, Token and User Services to maintain the efficacy of the said aspects. The platform supports both fiat and crypto payment gateways for easier transactions. The DRF tokens holders can also stake their tokens on the app to get incentivized or Lend DRF to others and earn interest on their lending, something that would appeal to crypto-oblivious drivers and users thus fostering greater adoption.
Drife has the ability to emerge as a worthy contender in the ride-sharing business as it offers enterprise-grade mechanism with greater transparency and verifiability. The TDeFi team is excited to see its users proliferate since the startup is a true proponent of decentralization.