10 Most Remarkable Transport Sharing Startups on Blockchain

Blockchain is being introduced into a lot of industries, including the sharing economy. According to McKinsey data, the volume of the market in the world’s top regions in 2016 amounted $54 billion for the sharing economy, and this will grow to 2030 by 28% per year.

A 2017 McKinsey survey reveals that 67 percent of all US respondents prefer driving their own cars over using ride-hailing apps, and 63 percent aren’t interested in trading their vehicles for shared-mobility rides — even if they’re free. The same research suggests that in three core regions — China, Europe, and the United States — the shared-mobility market was nearly $54 billion in 2016, and it should continue to experience impressive annual growth rates in the future. Under the most positive scenario, which involves strong customer demand for self-driving taxis or shuttles (so-called robo-taxis or shuttles), in low-density locations and in cities that take steps to enable them, the market could see 28 percent annual growth from 2015 to 2030. Vehicle sales will outpace the impact of shared mobility primarily because of strong expected growth in Asia and the high replacement frequency of shared vehicles due to their high utilization. Research also suggests that shared mobility will only partially replace car ownership. It is not surprising that given such forecast growth rates, the number of startups in this area is growing. We made a review of the most interesting startups based on blockchain in this field. Data on hard cap is presented in USD currency, even if it was mentioned in ETH.

Mixrent

Web: | HQ: Ireland | Hardcap: $20.0 mln. Mixrent states, that it is a blockchain-based ecosystem connecting vehicle owners, travelers, and the huge community of assistants for renting not means of transport, but impressions. The costs of all transactions are fixed in the distributed ledger, data cannot be tampered with or altered. With the convenient comparison of all offers, the price on the platform is 25% lower than in major rental companies. Also, the user has the opportunity to save up to 35% and receive cashback when paying in MIX tokens. Huge advantage of the project is that Mixrent is already working in the beta version and its user audience exceeds 12 000 participants. The project involves over 9500 units of various transport units, and daily reservations take place in different cities of the USA, Russia, Canada, Mexico. Soon the project will enter the markets of Australia and South Korea.

Summary: Mixrent is a working business that distinguishes the startup from other startups in this review. In addition, a feature of the service, is that even those people who do not own transport can earn money on the site through the provision of transportation services from the place where the renter left it.

BitCab

Web: | HQ: Saint Kitts and Nevis | Hardcap: $50.0 mln. BitCab is Uber 2.0 in the field of carsharing, which introduces the technology of blockchain. An ecosystem, gaming and technological model ensure user loyalty. Cheaper tariffs, security for customers through a rating system are also added to the mix. Among disadvantages of the project are lack of a clear roadmap, ICO deadlines are not defined, but the project is developing, prompt feedback from the community. Summary: The ICO is postponed to a later date, which indicates problems in the implementation of the project.

BlocVehicle

Web: | HQ: Singapore | Hardcap: $2.2 mln. A database of cars on blockchain. The mission of the project is the creation of a decentralized network based on blockchain technology, which will allow all users to keep the history of using vehicles in the public domain. The possibility of renting and selling cars with a real history of their maintenance. The possibility of using the platform by classic car dealers. An advantage of the project is that its social network is working and pretty much active. But there is a disadvantage that ICO was postponed several times with no obvious reasons. Summary: We are looking forward to ICO results.

Darenta

Web: | HQ: Estonia | Hardcap: $3.0 mln. Darenta is a P2P platform for carsharing with the possibility to send and receive payments for services by cryptocurrency. The platform uses blockchain technology and smart contracts for people who wants to rent or lease cars. Among disadvantages of the project are poor work with its community, low token rate and almost abandoned ICO site. Summary: Relatively small fees. Сurrently this is the most successful project in the field of carsharing that have already made token sale. The token is traded on such exchanges as Zecoex, ForkDelta and EtherDelta and it can indicate that the raised amounts are imitated. Darenta’s token has not been listed on Coinmarketcap.

Drivero

Web: | HQ: Estonia | Hardcap: $30.0 mln. The platform of carsharing working on GPS-geolocation and using the technology of blockchain. It promises to solve problems with the assortment of machines and their deficit in certain areas. One of disadvantage is that the project has postponed the beginning of the ICO’s actual start. According to rumors in social networks, the founder fell seriously ill, the project’s social networks can hardly be found. Summary: The transfer of ICO for six months again indicates serious problems in the implementation of the project.

Gitto Project

Web: | HQ: Malaysia | Hardcap: no data A platform of carsharing, which unites the market of cryptocurrency and the rental market of vehicles. Also offers the opportunity to earn money for those who invest in cryptocurrency and trade it on exchanges. Among disadvantages are no updates in social networks, except for the group in Telegram. Initially, there was no attention to the technical performance of ICO parameters. It is positioning itself as an “experiment.” When asked what was done, the answer was that they are just working on MVP and are looking for blockchain platform for partnership. Summary: ICO was postponed two times, according to the project it will take place, but when and how will be reported later.

HireGo

Web: | HQ: UK | Hardcap: $7.0 mln. The carsharing platform that positions itself as the first private car rental offer in the new decentralized sector. The project’s team is trying to establish technology and usability standards for the car rental industry and stress the creation of the community. On June HireGo posted the news that they were no longer looking to conduct the ICO in 2018 and probably would make the token sale in 2019. This is disadvantage. The other issue is the lack of concrete plans, and that sounds pretty strange. Summary: The ICO is postponed because of the situation on the market.

ShareRing

Web: | HQ: Malta | Hardcap: $38.0 mln. The project is positioning itself as world’s first trusted token for sharing services. ShareRing aims to become a single payment method for everything that is used together, no matter what it is or where you are. The disadvantage of ShareRing is unusually high SoftCap. Moreover, the project has ceased to communicate after the ICO. The very idea of ​​the project described in the White Paper is difficult to implement and requires large funds and large partnerships. Summary: A project with an interesting business model. Suggests anything for anything. We are waiting for the results of the ICO.

RedCab

Web: | HQ: Egypt | Hardcap: $4.7 mln. RedCab offers a decentralized peer-to-peer transport solution for individuals. The project states, that it has the lowest price for P2P transportation solution that is fare for customers and offers high returns for drivers. The disadvantage is that there were almost no news in media and social networks of the project during last half a year. This is pretty strange, taking into account that they do state that they have already raised the Soft Cap. Summary: Still waiting for the ICO results.

CryptoBike

Web: | HQ: USA | Hardcap: $40.0 mln. A decentralized platform for renting bicycles using blockchain technology. The platform allows users to rent bicycles with hourly pay. Thanks to decentralization, Cryptobike makes use and rent of bicycles safer, faster and more economical. CrpytoBike has a very short roadmap that could indicate lack of vision how they can develop business. Moreover their business idea is pretty much narrow. Also it is unclear whether the Pre-ICO has passed. They promise to give the owners of tokens the opportunity to vote and use the Proof-of-Stake algorithm. This could be an advantage, but it looks like populism and an attempt to attract small investors. Summary: The project is not transparent, the road map is not being implemented, they are not communicating.

Conclusion

In our days the most promising blockchain projects in term of developing of the startups after the ICO and the dynamic of tokens price are those, who already have not even MVP, but working business with cash flow. Taking into account this issues, one of the most interesting blockchain startup is Mixrent. Also there is huge importance of funds participation in the private sale of the ICO. In this case we should point out ShareRing.