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DRIFE Hires Chief Scientist in 'big tech', Approaching $1 Billion Valuation After Historic Launch
CTO and co-founder, Mudit Marda comments, " "
Siddharth has done his Ph.D. in Computer Science from the National University of Singapore . His research on real-time anomaly/fraud detection in a cybersecurity setting has been well appreciated and deployed by several companies. He has also been recognised as a Young Researcher by the ACM Heidelberg Laureate Forum.
DRIFE's launch on August 6 was a massive success, with the token price reaching over 20x and the token performing at a 10-15x almost one month later. The success of the launch is thanks to a strong pre-launch marketing effort supported by the diverse set of investors and backers. If the token reaches a 25x, the project will achieve the famed 'unicorn status' of a $1 billion dollar market valuation. For blockchain based projects, this is extremely rare. The project also recently announced that it will be opening up staking soon, which will drive significant demand for their crypto-focused investor base.
DRIFE is the only taxi platform that empowers both drivers and passengers, challenging an unfair model by bringing fairness and transparency where drivers take home 100% of fares and passengers can pay using cryptocurrency. For the first time, blockchain technology has enabled DRIFE to tokenize the ride-hailing economy, allowing riders to openly connect with drivers through the decentralised platform, cutting out the middleman and reducing additional costs.
To date, DRIFE has 2,000 registered drivers and 20,000 riders ready to go in Bangalore, India with a target of 10,000 active drivers by Q3 2021. It is in advanced stages of gaining operational approval in Brazil , France and Dubai , with plans for EU, US and Asian market expansions to follow. DRIFE is also in conversation with representatives from El Salvador , the first crypto-progressive country to recognise Bitcoin as legal tender for defining next steps towards a decentralised taxi network with crypto payment scheme.
DRIFE is a decentralized ride-hailing platform powered by blockchain with the intent of empowering the drivers, riders, and community developers. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions.
The Crypto Company is backed by Master Ventures, 18 Ventures, AU21 Capital, GD10 Ventures, FBG, Everse Capital, AE Ventures, AVstar Capital, Space Capital, BTA Ventures, Squares Capital and has successfully raised 2.7 million in funding so far ahead of its Initial DEX Offering (IDO) on August 6th .
For more information, visit: https://www.drife.io/
A detailed whitepaper on DRIFE's proposition and its technology architecture is available here.
Company Name: DRIFE
Email: anthony@drife.io
Website: https://drife.io