Start-up leverages blockchain to create long-distance ride-sharing platform

LOS ANGELES - 

How vehicles get utilized by buyers once they leave your showroom continues to change at a breakneck pace.

Companies such as Lyft and Uber have carved out business activities by often providing short-distance transportation; say to or from an airport or back home if you’ve had too many beverages at happy hour.

Meanwhile, a new start-up company, SnagRide, has positioned itself as a modern ridesharing platform built on the Ethereum blockchain that connects drivers and passengers with affordable, long-distance travel.

SnagRide claims to be America’s first long-distance ridesharing community that combines artificial intelligence with blockchain technology through smart contracts.

“We’ve revolutionized the concept of ridesharing by introducing a platform that builds atop blockchain, equipped with a level of encryption, protection and efficiency unavailable in any other type of ridesharing application within the U.S. right now," said Terry Chan, founder and chief executive officer of SnagRide.

While insisting on being the first long-distance ridesharing community that draws on AI and blockchain technology through Smart Contracts, SnagRide believes it’s poised to be a disruptive and unique platform.

Chan explained that smart contract technology can enable the new platform to securely manage the lifecycle between drivers and passengers that are willing to travel together between cities. SnagRide's AI bot uses data analytics from Ethereum smart contracts to match drivers and passengers who are willing to travel together.

SnagRide's AI technology matches drivers and riders based on their demonstrated habits and preferences from prior SnagRide journeys.

Aware that the world is in need of more reliable and affordable long distance ridesharing solutions, SnagRide aims to provide a more convenient and comfortable traveling experience, one that is affordable, eco-friendly and reliable.

“We are very excited for SnagRide to be released in the App Store and Android Play Store for download in the coming months, delving into the ridesharing market that has desperately been in need of a long distance ride-sharing service,” Chan said.

In an effort to increase interest in its product, SnagRide announced the launch of its SnagRide (MILE) token sale. The pre-sale phase of the crowdsale is scheduled to happen over a span of four weeks, starting Jan. 10. The presale will be followed by SnagRide's official crowdsale campaign.

The participants in SnagRide presale can purchase MILE tokens with BTC, ETH and LTC payments. The platform offers an attractive bonus to early investors. Those who participate during the first week of the pre-sale stand to receive a 40 percent bonus. The bonus percentage will reduce by 10 percent each week, leading to 30 percent, 20 percent and 10 percent during the second, third and fourth weeks respectively.

Pre-sale (Jan. 10) Week One Bonus: 40 percent

Pre-sale: (Jan. 17) Week Two Bonus: 30 percent

Pre-sale: (Jan. 24) Week Three Bonus: 20 percent

Pre-sale: (Jan. 31) Week Four Bonus: 10 percent

SnagRide has set a maximum cap of 100 million MILE tokens, of which 84 percent will be distributed to the public, 15 percent will be retained by the team and 1 percent will be allocated for bounties. All unsold tokens after the completion of crowdsale will be burned, according to the company. 



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