Dubai has granted a license to a taxi platform that uses an auction-based pricing approach. A key component of this strategy that leads to "lower prices for riders and higher incomes for drivers" is the elimination of commissions.
A Dubai-licensed taxi platform introduces an auction-based pricing system, eliminating commissions and ensuring affordability for riders while increasing earnings for drivers. Drife, the UAE’s inaugural decentralized ride-hailing service, enables riders to select fares from multiple drivers, enhancing user choice.
Riders benefit from informed decisions based on preferences such as price, distance, and driver ratings. Meanwhile, drivers retain 100% of the fare, leading to increased income and savings for riders. Drife operates on a subscription-based model, providing drivers with fee-based platform access while allowing them to retain all ride earnings, fostering a mutually beneficial ecosystem.
For prospective drivers, registration involves downloading the Drife app and submitting necessary documents such as Emirates ID, a driving license, and an RTA card. Independent background checks ensure safety. Initially, drivers enjoy a complimentary 30-day subscription before opting for daily or monthly plans. Both drivers and riders can earn incentives for active participation on the platform.
Drife aims to revolutionize taxi services with its "taxi 3.0" approach, empowering the community and drivers with market control. Blockchain technology ensures transparent pricing, while the company's cryptocurrency, the DRF token, offers additional benefits once approved by regulatory authorities. Traditional payment methods, including cash and cards, will remain the primary options initially.
In 2023, Drife obtained licenses in various Indian cities, including Karnataka, and amassed over 350,000 users and 30,000+ drivers by the end of the year. With the launch of Drife in Dubai, the platform promises a paradigm shift in the taxi industry, prioritizing fairness, transparency, and user empowerment.