According to Statista.com, the revenue in the ride-sharing segment amounts to $11.79 billion and is set to increase to $28.37 Billion by the year 2022. With this statistic, the SnagRide wants to take advantage of the ride-sharing segment. The SnagRide is an American’s first long-distance ridesharing community combining the power of the blockchain technology and artificial intelligence through smart contracts. SnagRide harness AI and blockchain to revolutionize the ride-sharing segment through a decentralized ride-sharing app. It is based on the Ethereum Blockchain.
How does it work?
First, SnagRide drivers post their destination and departure details on the platform. Users are able to sign up for a ride by paying the estimated cost and wait to be picked up by the driver according to their convenient time and destination. Every time the rider submits a request, it is saved in the form of smart contract and used to match the rider with a driver later on.
The SnagRide conception, development, and research took place in April 2016. In September, the project was launched and by match alpha version of SnagRide App iOS and Android. On December 2017, SnagRide held its first presale. The public Crowdsale is scheduled for the first quarter in 2018 and the release of SnagRide beta on App store and Play store will take place in the second quarter of the same year.
Miles is the SnagRide AI bot designed by SnagRide engineers. It uses the data analytics to match driver and passenger willing to travel together. Miles mines user data contained within SnagRide smart contracts and match drivers and riders based on preferences and demonstrated habits from previse SnagRide journeys. The MILE token is used for all aspects of the project such as offering a ride, finding rides and completing ride transaction.
Affordable and efficient
The platform makes mid to long-distance road trips affordable, convenient, secure, fun and efficient. Tit is a modern ride-sharing platform, that makes sure users enjoy affordable mid and long-distance travel. Whether it’s visiting your family, friends, a business trip or vacation, passenger on SnagRide splits the cost of the trip to make it more fun and affordable
Benefits of SnagRide
- Smart contract capabilities for both drivers and passengers
- Allows for token payments
- Token rewards program]
- Credit card payment with token rewards
- Ride email alert
SnagRide was co-founded by CEO Terry Chan a bachelor degree holder from the University of California. Head of engineering and Jonathan Hollinger and product design personnel is John Evangelista among others.