By
Steve Muchoki
February 9th, 2024
AGT Technology wants to revolution the $7 billion global industry of tourism and travel by creating a blockchain-based cab aggregation service to compete with the likes of Uber and Lyft.
AGT Technology is a blockchain platform aspiring to create an ecosystem that broadens the scope of application of decentralized ledger technology by overcoming commercial boundaries. In addition to its focus on travel and transport industry, AGT Technology is also committed towards philanthropic activities.
AGT Technology, coming directly from a closed group funding round from November 23rd, will be launching a token pre-sale, which is set to go live on December 1st, 2017. Following the pre-sale will be the main crowdsale, scheduled for December 15th, 2 weeks later. In total, there will be 54 million tokens, with 6 million having already been sold in the closed group funding round. 9 million will be sold in the Pre-ICO, with 21 million and 36 million tokens being sold in the ICO and public sale, respectively.
AGT looks to revolution the $7 billion global industry of tourism and travel by first creating a blockchain based cab aggregation service, making use of the Ethereum blockchain and its’ smart contract functionalities. AGT looks to compete with the likes of Uber and Lyft, but with a greater transparency and cost effectiveness afforded to AGT thanks to the use of blockchain technology. The service will support multiple cab booking models, making the service accessible for both drivers and customers.
By removing the middleman and replacing it with a smart contract, the driver will be able to retain more of the earnings, as well as pass along savings to the customer; simultaneously making rides more affordable while providing a bigger earning potential for the drivers. AGT claims their platform will reduce the cost of a taxi by 30-40% due to no commissions being taken. Thanks to the global nature of the blockchain, drivers will also attract more business, and customers will have more accessibility to transportation faster, in more places, and at more competitive rates.
Additionally, features like live tracking as well as additional safety features for the betterment of the customer experience are included as well. Both the business model and technology models have been vetted by both legal experts and ethical hackers to ensure that what AGT is trying to do is both technologically and legally sound across various aspects.
After the cab aggregation is developed and is functional, AGT looks to do something similar for both hotels and airliners, providing a total booking experience for anyone looking to plan their next getaway or vacation. Expected dates for hotel aggregators is in 2020, and air aggregators in 2021.
The company looks to complete the platform by next November, and release the platform for public use by May of 2019. Post ICO development is expected to begin in March of 2018. AGT expects the token to be listed on Bittrex, BitMEX, Poloniex, as well as BitStamp.