Focused on Emerging Cities-Where the Next Billion Transport Users Live
Port Louis, Mauritius: Vite is a peer-to-peer ridesharing service built for the blockchain generation. By introducing one universal digital currency (Vitecoin) as a settlement layer between drivers and riders, we offer many advantages over existing traditional services, including convenience to our users, who do not want to carry a great deal of cash on them. Vitecoin also avoids the need to have credit cards, which are hard to get and expensive to use. Vitecoin’s borderless nature allows for fast expansion to meet the huge unmet and under-utilized market for ridesharing across Africa, Asia and other emerging cities around the world.
NB: Vite will maintain a hybrid vitecoin & fiat payment options to ensure maximum reach, and that no user is left out. Fiat payment options will however be dissolved eventually and Vitecoin will be the only accepted currency, in turn increasing the demand and value of the Vitecoin.
The collective ridesharing market for emerging markets(Africa, Asia and Europe) is worth more than $50 billion USD annually, and it is experiencing exceptionally rapid growth. There are more than 150+ emerging cities, each with a population over one million that currently have no access to ridesharing services. Vite will launch in Mauritius in Q4 2018 before progressively expanding across dozens of cities in Africa, Asia, and Europe.
While existing transport services often treat drivers poorly and rely on low driver wages to grow, Vite circumvents this inequity by offering a model that is mutually beneficial for riders, drivers, and also for the cities involved. Unlike the huge cuts charged by the competition, slicing up to a quarter of driver income, Vite drivers keep what they earn; the only reduction to that amount is that 5–10% of their income goes into Vite Impact Fund (VIF), which is used to maintain the technological infrastructure of the service and fund local social projects for the cities involved.
Vite has already completed a successful private beta launch in Mauritius that involved 1,000 participants out of 11,000 people who signed up in the first week. The updated beta app is currently available on Google play.
Vite is driven by a diverse and motivated team with a combined twenty years of experience working for international organizations across five continents. The viability of the idea, the huge market potential, and the drive of our team inspired the 6th President of Mauritius to join us as an advisor, and she will provide strategic leadership and support.
Earlier this year, the Vite team was selected to participate in Aeternity Venture’s Blockchain Incubator Program in Sofia, Bulgaria. The team connected with top European blockchain experts and market influencers and explored partnerships that will be necessary for our international expansion into Europe and Asia (Indonesia).
Vite is also one of the few blockchain projects selected to participate in the Draper University Accelerator Program in San Francisco this October by the renowned venture capitalist, Tim Draper, an early investor in transformative companies such as Skype and Tesla. .
The next unicorn ridesharing service will be powered by the blockchain, and it will be Vite.
Vite’s Private sale is currently ongoing. Participants will enjoy 50% discount and you can contribute by joining our exclusive whitelist here. The pre-sale and main sale events are slated for October 1, 2018, and November 15, 2018, respectively.
For further details on the project including the white paper, please visit www.viteapp.co.
For more details, follow the Vite ICO here.