In this opportunity we will talk about an interesting example of application of technology Blockchain that also brings an answer to problems of its market niche, also involves the adoption of own currency and the advantages that it brings. Innovating in the sector of car rental companies comes the proposal of Gitto Project, which wants to take advantage of this segment of the market connecting car rental companies, vehicle owners, drivers, travelers and local users who want transport at an affordable price .
Gitto Project will help car rental companies expand their customer base while giving them more potential for selection through the tokenization of their assets. Gitto Project will use blockchain technology to solve high-cost transportation problems in dense metropolitan areas.
First Gitto Project will offer rental of peer-to-peer vehicles where these are listed, made available and contracted through the chain of blocks. Secondly, they will offer the possibility of peer-to-peer contact where both drivers and passengers offer, request and pay for rides in the blockchain.
The idea of this project will be worked by two of Ethereum’s key developing minds such as James Drake and Michael Seiler G. Gitto Project will also work with a team of talented mobile application developers led by Vaibhav Jain.
Initially the project will focus on the Malaysian market in what they have called its initial phase. They plan to extend the service to other major cities around the world.
The tokenized car rental ecosystem will give greater flexibility to car rental companies, car owners and customers to participate in it through an easy-to-use application. With a smart contract as a basis, any entity that needs to use a vehicle or have one to provide a service may have the ability to set its terms. Customers will decide if these terms are acceptable before accepting the service. The end result will be a more competitive market in which the actual costs and benefits of car rental can be observed. Profits will also be spread throughout a larger demographics of society rather than just the big players who can afford the high fixed cost associated with car storage, maintenance and rental.
The project’s own currency is the Gitto Coin (GTO), and will be listed on the public exchange market after the ICO phase in April 2018. It will be possible to buy or sell GTO in exchange for Bitcoin and Ethereum.
The route map of the project is presented as follows:
Phase 1 August – December 2017: Pilot Phase and (Minimum Viable Product) Development MVP
October 1 – Presto of GTO token to finance the development of MVP.
Q1 – Q2 2018: Beta tests in the initial market
Q2 2018 – ICO and Product Promotion
Q3 2018 – Deployment of peer-to-peer leasing in the Malaysian market
Gitto Project is an experiment that will allow you to address the viability of blockchain technology in the car rental business, and that will also offer the opportunity to win for those who invest in their own criptocurrency.
More details on this project can be seen in its white paper.