Decentralised Operations
Decentralized Operations- DRIFE Franchise
Last updated
Decentralized Operations- DRIFE Franchise
Last updated
DRIFE is bringing, for the first time, a franchise model to the ride-hailing industry, enabled by NFT technology. This will usher in a new paradigm of doing business in the ride-hailing industry in particular and the transportation industry at large.
With this unique model, DRIFE brings a lucrative business opportunity to run the operations of a highly efficient and transparent blockchain-powered taxi service anywhere in the world without worrying about the platform infrastructure. It is an opportunity to partner with us and give a technological edge to your ride-hailing venture.
Franchise NFTs are given to people or organizations that are fit for running operations in any chosen part of the world, thus enabling the DRIFE ecosystem to quickly scale around the world, while also allowing for flexibility and adaptability for the individual needs of local communities. As each city also acts as a local entity, it can more easily adapt to the location and demographic needs of its territory, ensuring that the best interests of all parties are considered.
Step 1: Express Your Interest
The first step in running a DRIFE franchise is to express your interest in a specific location by submitting your details through our website. DRIFE will then open a public tender for the city and call for bidding for the operation rights.
Step 2: Bid Submission and Evaluation
After the timeline for submitting bids is over, the DRIFE Council evaluates the technical feasibility of the applicants and shortlists the top bidders. The top bidders are then presented to the community for voting. Every DRF holder is able to vote for their favourite contender based on their profile. The three top contenders then proceed to the final round, the financial bidding.
Step 3: Financial Bidding
The fixed rate of revenue share for each city that is paid to DRIFE is 30%. Thus, every percentage that the franchisee is willing to share beyond the fixed rate, goes to the DRF community.
At this stage, the final contenders also submit their security deposits. The security deposit and the integration fees are calculated for each city or region based on factors such as market potential, population density, and competition.
Step 4: Winner and Franchise NFT (FNFT) Issuance
Once all financial bids are received, the DRIFE team declares a winner and grants the operation rights for the specific city or region by issuing the Franchise NFT.
Franchise NFTs are given to people or organizations that are fit for running operations in any chosen part of the world. Thus, enabling the DRIFE ecosystem to quickly scale around the world, whilst also allowing for flexibility and adaptability for the individual needs of local communities. As each city also acts as a local entity, it can more easily adapt to the location and demographic needs of its territory, ensuring that the best interests of all parties are considered.
Each unit of operation is a non-fungible token (NFT). This means its ownership is specifically verifiable to a non-divisible piece of the geographic location, bounded and geo-fenced.
We refer to this as a Franchise NFT (FNFT).
Acquiring an FNFT gives the Franchisee the right to use the trademark, intellectual property, proprietary knowledge, and infrastructure to support business development as a DRIFE franchisee. In other words, the geographical licencing and operating rights.
To acquire the FNFT, the franchisee is required to stake* a specified amount of DRF tokens for the duration of the agreement.
The amount of DRF tokens to be staked is calculated individually for each city and region.
*Staking, in this case, is similar to a security deposit (or locking up your valuables in a safety deposit box).
The ownership of the token remains with the franchisee.
The benefit to us as a licensor is a simple economic principle of demand and supply, creating artificial scarcity in the supply of the overall token available on the open market.
At the same time, this acts as our security deposit for penalties in the case of infringements or failure to comply with our guidelines.
The benefit to the franchisee is that they remain in ownership of their acquired token. With the overall success of DRIFE, the value of the DRF token has a likelihood of appreciating in value over time. However, failure to succeed might also have the reverse effect.
