- CRYPTOCURRENCY SATELLITE
Ride-sharing as public transport is steadily becoming a new norm. Well-known and new ride-sharing apps are readily available on both Android and iOS platforms, giving anyone access to have a ride right at their doorstep at the tap of a finger. But where ride-sharing often misses the mark is the relationship between its three stakeholders; the drivers, the customers and the company.
Today we profile Lim Chiew Shan, the Founder and CEO of Dacsee Co., Ltd. He has 18 years of experience in the IT industry where he focuses on Customer Relationship Management and went on to establish Incredible QR, a mobile apps company.
Shan now spearheads the drive and passion towards an economic sharing utilizing mobile apps with his latest creation, the DACSEE platform which stands for Decentralized Alternative Cabs Serving & Empowering Everyone.
Q1. Can you share your story and how you come to start the ‘DACSEE platform’?
We learned about decentralisation model and blockchain technology over the last 1.5 years and together with a few of our co-founders and myself who are mainly from the enterprise world, we thought it will be great to put up self sustainable business model which is almost non-existent. We started exploring industries that should be innovated while matching it to our individual experiences, resources that we have and weighing on the global issues that we learned from the exploration.
Q2: What kinds of problems do you wish to change in current ride-sharing services through the ‘DACSEE platform’?
DACSEE aims to create a truly sustainable social ride sharing platform – in fact we’re positioned to disrupt the disruptor in many ways. In many countries such as Malaysia, fares have remained stagnant for many years and drivers have struggled to make an honest living as the cost of living continues to rise. The new DACSEE mobile app will now be beneficial to the wider community by:
- Eliminating middlemen fee and giving it back to the community: Whereas current ride-hailing platforms take their commission to pay for overhead and shareholders, DACSEE’s peer-to-peer system redistributes its platform commission to the drivers, passengers, and local authorities that collectively make-up the DACSEE platform via its Circle of Friends Pool;
- Empowering the community via the ‘Circle of Friends’ Pool: All commission taken from a DACSEE fare will be deposited in this collective pool and then redistributed to stakeholders according to the following four metrics including community ranking, length of time on platform, number of rides taken or given on platform, size of ‘Circle of Friends’;
- Enabling simple and convenient payment: Passengers may choose to pay with the same token or any other traditional fiat method;
- Making transactions transparent and visible: Built using blockchain technology, information is recorded clearly for all stakeholders including drivers, passengers and authorities;
- Fostering local and government partnerships: The DACSEE platform believes in developing strong partnerships and only operates in jurisdictions where it is welcomed to do so in partnership with local government.
Q3: You describe the platform as being ‘by the community, for the community.’ Why is that?
DACSEE is designed to empower drivers in the platform to be able to secure their daily bread and butter while organically building their long term recurring revenue. In many countries such as Malaysia, fares have remained stagnant for many years and drivers have struggled to make an honest living as the cost of living continues to rise. As a peer-to-peer system, DACSEE aims to truly encourage community engagement and foster connections. Because there is no middleman, drivers and passengers perform as many tasks within the platform as possible.
An example of this is the verification process of new drivers. A new driver’s credentials are vetted by a fellow driver before they are sent to local authorities for final approval. As drivers verify and recruit new drivers to the DACSEE network, they will be granted a permanent recurring bonus from them and add them to their community network.
Upon a driver’s retirement, they could also consider to pass on, and extend their DACSEE credentials and ‘Circle of Friends’ network to their next generation and operate it as a ‘family business’. Such innovative platform has never been implemented in existing sharing economy landscape, making DACSEE a truly sustainable and empowering business model.
Q4. How do you encourage local community to embrace blockchain technology?
In the 2.5 months since driver recruitment began, over 30,000 drivers have already signed up with DACSEE’s driver network in markets such as Thailand, Malaysia, and Indonesia.
The most important continuous task for DACSEE is to educate and build communities to understand the true underlying value of decentralization and the impact it can bring to the community. We’ve held a number of community meetups around in key Southeast Asian cities such as Kuala Lumpur, Bangkok and Indonesia. During these meetups, we found out that the local communities were very curious and particularly interested in the P2P platform where they could earn additional participation pool bonus after learning the profit generated from the platform won’t be used to pay overhead costs and investors.
The DACSEE mobile application utilized blockchain and decentralization to create a platform that is driver-centric, authority friendly, and provides passengers with the best user experience possible.
DACSEE currently has offices in Kuala Lumpur, Bangkok, Jakarta, Shanghai and Seoul. DACSEE’s first launch is in Malaysia. To date, DACSEE has successfully raised over 25 million USD from its private and public sales, the latter which was launched in December 2017.