Blockchain ride-sharing firm to launch its own cryptocurrency

SnagRide, a ride-sharing platform built on the Ethereum blockchain, has announced a pre-sale of its own cryptocurrency, the MILE token. 

SnagRide is America’s first long-distance ride-sharing community that combines artificial intelligence with blockchain technology through smart contracts. Soon, the customers of SnagRide will be able to purchase MILE tokens on sale, beginning 10 January 2018 and lasting four weeks.

Participants in the SnagRide pre-sale can purchase MILE tokens with bitcoin, Ethereum and Litecoin payments and the platform offers an attractive bonus of up to 40 per cent to early investors. SnagRide has set a maximum cap of 100 million MILE tokens, of which 84 per cent will be distributed to the public, 15 per cent will be retained by the team and one per cent allocated for bounties. All unsold tokens after the completion of the crowdsale will be burned.

“We’ve revolutionised the concept of ride-sharing by introducing a platform that builds atop blockchain, equipped with a level of encryption, protection and efficiency unavailable in any other type of ride-sharing application within the US right now,” said Terry Chan, Founder and CEO of SnagRide.

Drawing on artificial intelligence (AI) and blockchain technology through smart contracts makes SnagRide a potentially disruptive and unique platform.

SnagRide’s AI bot uses data analytics from Ethereum smart contracts to match drivers and passengers who are willing to travel together. The AI technology matches drivers and riders based on their demonstrated habits and preferences from prior journeys.

Aware that the world is in need of more reliable and affordable long distance ride-sharing solutions, SnagRide aims to provide a more convenient and comfortable travelling experience, one that is affordable, eco-friendly and reliable.