DriveDeal is developing an open and decentralized platform as the foundational layer for future mobility and transportation applications in the sharing economy. It will be the first platform that provides access to the infrastructure, data and components for all mobility and transportation related use cases.
DriveDeal automotive industry is booming and undergoing rapid change. Buzzwords like mobility on demand, internet of things and autonomous driving dominate the discussion, but a deeper inspection reveals that considerations are not holistic and the big picture is not uncovered yet. The gap between what consumers want and what companies offer is large and existing solutions do not satisfy needs and requirements. A comparison of the demand and supply side helps to understand the market and provides the opportunity to identify weaknesses, and to address the discrepancies and to draft optimal solutions.
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Problem in DriveDeal
Most vehicles remain unused for 95% of the time which is a wasteful treatment of resources. DriveDeal Car sharing companies offer solutions to utilize these assets by making them accessible to many consumers simultaneously. However, these companies create the supply in one way only – taxi services do not offer their vehicles for car sharing and vice versa. In this way companies have too much power and do not add enough value to the economy – they basically only operate as matchmakers between owners and users of the cars. A true sharing community should function peer2peer, where no intermediaries are required and services provided by any available resource can be used on demand.
With the invention of the blockchain and cryptocurrencies however, it is possible to make binding agreements directly and share assets without someone controlling the market. DriveDeal will be the first platform for these interactions and will provide the required infrastructure and technology to enable decentralized peer2peer sharing. Every application built on top of DriveDeal will combine all possible car sharing use cases and make market supply be decided by the customers. Moreover, the code of every component of DriveDeal platform will be open source, no single element will be crucial for the network to succeed. Participants will be able to provide cars for sharing, rent vehicles from others, develop applications or offer mobility-related services for everyone in the community.
Market situation from customer perspective
Practical approach: The current generation of consumers has a new perspective on technology, status and the use of resources. It embraces a new mindset which is defining today’s social values and its preferences result in a behaviour which requires a shift in the existing paradigm of ownership. Feelings like comfort, freedom and flexibility are increasingly demanded and dominate the desires of modern consumers.
Economic approach: In the DriveDeal modern consumer wants to have unlimited and inexpensive access to mobility without much concern about administration and maintenance. He understands that a car remains unused about 95% of the time which makes ownership extremely inefficient, Firstly, all occurring costs still need to be covered even if the engine is not started even once. An owned but not used car incurs financing expenses, insurance and maintenance costs, taxes and depreciation of value. Since most private car owners are not specialists in the automobile industry, these costs are hardly optimized and the asset can be regarded as a bad investment.
Market situation of DriveDeal
Mismatch between demand & supply: The mobility market is characterized by supply driven dynamics. A simplified explanation is: Companies try to anticipate what customers want and guess the amount and quality of service they need to provide. By design, this approach is inefficient, because the customers are not fully involved and the true demand
is not captured. Moreover, providers concentrate on one-dimensional solutions and address only one single niche of the market: They decide on one service – only car sharing, only ridesharing, only rental or only delivery.
Financial benefits of car sharing: A recurring argument of mobility-on-demand providers is the cost saving aspect for customers. A closer look at this claim reveals the limited potential of this structure. Research shows that sharing services are only lucrative for consumers with a very low usage per year – for city cars under 7.500 km per year and for compact cars under 12.500 km per year. For everyone with more mileage per year ownership is less expensive. This is the case for 83% of city car owners and 54% of compact car owners in areas where car sharing services are provided.
Strategy & approach
Shaping the future together: The most important result to be achieved by a token distribution design is the correct representation of value contribution along the value chain and the correct incentivisation of the stakeholders to correctly display their interest in improvement of the network. The blockchain-based platform should be considered as a public utility good that is designed to enable maximal possible welfare for the participants, by allowing businesses to set up operations on top of optimally parametrized ecosystem.
Contribution & codetermination: The development of a platform that serves in the community is a long-term project and needs to be approached with a sufficient planning horizon. All required costs cannot be known exactly upfront, but for shorter periods of accurate estimates can be provided. Since the main purpose of platform is to serve the community as a fundamental layer for services, interactions and exchange of value, in the end, the user should be involved in shaping the platform in order to fulfill their needs and requirements.
Impact of the blockchain
DriveDeal recent digital revolution allowed a new possible approach to tackle this issue. With the invention of the blockchain a community of digital trust was enabled. The blockchain can be understood as a permissionless, immutable and publicly accessible database where all data is distributed to the whole network. A cryptographic mechanism ensures, that the content of the respective blocks of the chain cannot be corrupted once they have been created without everyone noticing. This system makes the blockchain an extremely powerful instrument for data exchange without need for trusted intermediaries.
Structure & architecture of the platform
- Neither DriveDeal nor any other company is required for any specific role on the network. Every component, device or service can be exchanged for a similar one without
compromising the service provided.
- Pieces of software are responsible for just a few tasks and are prepared to be connected with other components.
- Every line of code and electronic component developed by DriveDeal to bootstrap the system will be open-source to accelerate innovation in the mobility space. However, at any stage it can exchanged by anyone which allows for an open market and competition for the best service.
Benefits of DriveDeal
The most obvious actor within the DriveDeal ecosystem is interested in the act of transportation itself. This means, that they want to be conveyed from one place to another or requests the transportation or the delivery of a good. Regardless of the form and nature of usage, this actor demands a frictionless and inexpensive service to satisfy their needs. She or he might consider the transportation industry with a mobility-as-a-service approach and prefer to be taken care of instead of having to trouble themselves.
Servicers & companies
Anyone specializing in providing solutions for the needs of car users (group above) falls into this category. In general, this set can be divided into already existing firms and new businesses that will be formed resulting from new requirements on the platform. The first group will be able to continue its operations after slightly adapting it to the new environment. The second group will start growing after new creative ideas are recognized and potential solutions are drafted. Independent of the offered service, the provider will have to comply with the protocol on the DriveDeal platform and thus will be incentivised to serve the community.
IT-specialists, system architects, coders and programmers are and will be represented in the DriveDeal ecosystem. They will aim to connect the needs of all groups described above. They may either act as sole entrepreneurs or they can collaborate with companies and institutions. They will be contributing to the development of the platform, creating applications or interfaces to establish a connection between users and servicers of the platform. They will help to create a new forms of businesses that operate decentralized and compete on the open market to create revenues.
Environment, society & resources
Surely not a separate actor on the platform, but the biggest beneficiary of new DriveDeal ecosystem will turn out to the environment and the society in general. Lower transportation costs and environmentally friendly usage of natural resources will serve society, even reduced congestion and decreased pollution created by traffic. Incentivization of fair behaviour, internalization of negative externalities to environment and adequate compensation for work according to the contribution to the network will result in a fairer distribution of wealth and pleasant working conditions.
Arjun Ahluwalia, Co-Founder & CEO
Pedro Andrade, Head of Technology
Alexander Frank, Co-Founder & COO
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