The ride-sharing industry in Asia is suffering from a lot of problems, the major one of which is the problem of monopolisation. One or two major taxi network apps are completely dominating the market, making it almost impossible for users to look for other, more feasible options. The worst thing is that they are taking a huge part of the drivers’ earning in commission while providing no real service. Filo - a blockchain based digital ride-sharing platform - aims to resolve this problem by introducing an alternative that is cost-effective, more secure and transparent.
Filo intends to deliver profitability and convenience for drivers and other service providers through a decentralized platform that can be used for hosting services and connecting with customers. This effectively removes the need for ‘middlemen’ apps and companies that charge an unusually high fee for their service. The Filo blockchain itself manages and validates the transactions that go through it. All the user data and transaction records are secured in encrypted blocks that are distributed across thousands of systems worldwide. The decentralization nature of the platform makes it impossible to hack or access without authorisation.
Filo is presently offering a centralized cab hiring and ride-sharing service in Singapore, which will be soon implemented on a decentralized blockchain platform in order to promote the applications of a decentralized economy. A number of other decentralized apps (Dapps) will be created and launched on the Filo platform to enable service providers and entrepreneurs connect with customers without needing a middleman.
Problems with the Centralized Sharing Economy
The present sharing economy, which is mostly dominated by centralized institutions and companies, is too volatile, limited, insecure and costly. Here is how.
Whenever you use a centralized app or website, you share some personal data or information with the particular app which is stored in the app database. You practically have no control over the data once it is submitted to such an app that can use the data for any personal or professional gain. Basically, the actual purpose of sharing economy has been limited to getting information from the users. The model is unreliable, less transparent and not at all secure. This creates the need for a decentralized economy where the final control is in the user’s hand.
Apart from that, the current sharing economy is also facing many other issues such as monopolization, transaction security, international transactions, high transaction cost, etc. Filo provides a comprehensive solution to all the above-stated issues.
How FILO is promoting the decentralized economy
FILO is a platform developed on the decentralized blockchain technology to enable service providers to connect with the consumers of their services. What’s the benefit?
Well, Filo makes it easy for service providers to find the relevant audience for their offerings and provide services directly to them. This, while adding convenience, reduces the transaction cost and increases transparency. The platform will host a range of APIs through which specific services could be provided directly to the consumers. This will also completely remove the agent or middleman problem from the service space, as anyone can provide services on a decentralized platform without having to seek the help of an intermediary.
At present, the company is working on creating a decentralization version of its ride-sharing app that will be launched shortly, followed by a number of decentralized apps for Android and iOS platform with focus on the following services:
- FILO Food - On Demand Food Delivery
- FILO Concierge - On Demand Concierge Services
- FILO Plumbing - On Demand Qualified Plumbers
- FILO Aircon - On Demand Qualified Air-Con Technicians
- FILO Medical - On Demand Qualified Medical Practitioners for Non-Emergency cases.
- FILO Maternity - On Demand Qualified Maternity Service Providers
- FILO Renovation - On Demand Renovation Contractors.
- FILO Logistics– On Demand Vans and Trucks with Manpower
- FILO Movers - On Demand Home Moving Services
- FILO Freight - On Demand International Freight Services
The FILO USP
The unique selling point of FILO is this: A secure and trustworthy marketplace that never shuts down.
Filo ‘On-demand services’ can be accessed by the holders of the Filo token that will be sold during the ICO events. In order to keep the trust and interest of the customers retained, the platform has a strict process for evaluating the quality of services provided through it. The token can be used to purchase goods or services provided through the decentralized apps on the Filo platform.
FILO Token Sale Event
The sale of the Filo tokens will be held in multiple phases, including a bonus sale for private investors. The pre-sale event will be held in September 2018, followed by the main ICO sale in November. More details are given below:
Token Distribution
Total Token/Coin:1b
Company - 250 million (25%)
Team - 50 million (5%)
Private Investors: 200 million (20%)
Pre-ICO - 100 million (10%)
ICO - 200 million (20%)
Consultant - 150 million (15%)
Minimum Purchase of Filo Token $1000.00
ICO Schedule
Phase 1: Filo International - From 21-7-2018 to 31-7-2018
Phase 2: Filo Power Day - From 1-8-2018 to 15-8-2018
Phase 3: Presale (ICO) - From 1-9-2018 to 30-9-2018
Phase 4: Public ICO - From 1-10-2018 to 31-10-2018
The FILO token price is $0.05 for the pre-ICO and ICO sales. There is a special bonus of 30% for pre-ICO buyers.
FILO tokens can be purchased in exchange for Bitcoins (BTC), ETH, Litecoin (LTC) and Bitcoin Cash.