Reorganising The Land Transport System With Tracoin.

smalltalk (58)in #cryptocurrency • 6 years ago

Land transportation can be very complex and complicated. From having to depend on great road networks to having to deal with trade unions, the land transport sector could use a lot of disruption. A glimpse of this disruption surfaced with the advent of Uber, Lyft, and the numerous ride-sharing apps. These services wanted to change the entire world order as regards land transportation and they were met with varying degrees of resistance.

What if instead of trying to change everything, we try to rearrange and organize the system? What if there were better ways to improve the land transport system without overhauling the age-old system and traditions? What if all we had to do was just improve on the existing model?

Introducing Tracoin

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Tracoin is built on the Ethereum blockchain and is seeking to build out a community around the road transport sector globally. This will be achieved through an app that connects customers to transport companies and their fleet of vehicles. It will essentially be a marketplace where various participants in the land transport industry can meet and interact.

For example, this app will make it possible for customers to book/request for rides from their mobile devices while transport companies can also monitor their vehicles. Because it is a marketplace, customers can submit reviews about drivers after every trip. This will help to incentivize good behavior and make it easy to identify the best services.

Tracoin aims to connect all stakeholders in the land transport sector on one network; the fast, highly secure, low fees, simple, and privacy guaranteed Tracoin network. It is believed that a well-connected sector will lead to an improved sector as there will be easy access to relevant data and information as regards the land transportation industry which will, in turn, lead to better development overall.

Token and ICO Details

The Tracoin token (TCN) is an ERC20 token built on the Ethereum network with a total supply of 30,000,000 TCN. TCN is designed to be a utility token with which transaction fees can be settled. An example of these transaction fees includes payment for land transport services. Tracoin intends to buy back up to 5% of tokens in circulation from the open market yearly in a bid to maintain a balance in the value of the tokens while also making it deflationary.

The value of TCN is projected to increase due to the growth of the land transport industry globally.

TCN token presale will commence on the 6th of April 2018 at a price of 1 TCN = $0.40. Only 3 million TCN will be available for sale during the pre-sale.

A total of 20,000,000 TCN will be available for sale during the ICO crowd sale that will take place over 5 rounds with varying discounts ranging from 15% down to 2% during which the price will rise from $0.40 to $1.00.

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The funds from the token sale are intended to be used for the development, and marketing of the Tracoin platform as well as other operating expenses.

Roadmap

The Tracoin web wallet will be launched in the 3rd quarter of 2018. In the same period, Tracoin will also be listed on external exchanges like Coinexchange, and Cryptopia. The 3rd quarter of 2019 will see the release of the Tracoin debit card which will be the easiest way to pay for goods and services. Multiple cryptocurrencies (not just TCN) can be stored on the debit card.