Ride-hailing services have experienced significant growth in adoption since 2009. Although business models to support the sharing of vehicles have been present in the United States for more than 15 years, their adoption has been somewhat limited to niche markets in dense, urban cities or college campuses. To date, carsharing has attracted over 2 million members in North America and close to 5 million globally. Conversely, this new model of “shared mobility” is estimated to have grown to more than 250 million users within its first five years.
This sector has been projected to generate about 335 billion Dollars by 2025 with an annual growth of 16.5% in revenue.
The rapid adoption of ride-hailing poses significant challenges for the traditional transportation industry, researchers, policymakers, and planners, as this disruptive revolution is vastly beyond the control of all key players.
Notwithstanding these strides, the ride hailing industry has its own internal challenges and short falls that must be solved for the long term survival of this new industry. These challenges challenges include payments settlement between drivers and service providers, leading to drivers owing huge debts, high charges from fares, difficulties in acquiring private cars (In developing countries) which creates room for exploits by some few rich individuals and business men or fleet firms and lack of proper reward systems for referrals.
G-Ride will redefine the ride hailing industry worldwide and will become the gamechanger in the transport or ride sharing sector. Building the first holistic platform that solves the aforementioned challenges in this sector.
Genuine Ride has a completely new approach to ride sharing, payment settlement on the platform and funding - based on blockchain technology. With G-Ride platform, we may offer innovative ways of joining our drivers by providing our own cars to drivers on a hire purchase agreement, offer super competitively low rate of charges (On driver’s income and riders fare) to attract more drivers and riders into our platform . And the platform will transform to the number one choice for all drivers and riders involved in this sector worldwide.
G-Ride has its own currency: the GCoin. Every transaction (between Drivers and GMG) within the platform will be done with the G-Ride Coin. Riders will also use this coin as a mode of payment.