Place/Date: Tallinn, Estonia - November 25th, 2017 at 1:26 pm UTC · 2 min read
Contact: Nitesh Chopra, Source: AGT Technology
AGT Technologies, the blockchain solutions company is revolutionizing the travel and tourism industry by implementing the decentralized ledger technology. The platform makes use of Ethereum blockchain and its smart contracts capabilities to eliminate the complexities surrounding the industry segment. As its initial product offering, the company is creating a blockchain based taxi aggregation service with greater transparency and cost-effectiveness in comparison to existing mainstream players like Uber, Lyft, and others.
The membership-based decentralized cab aggregation platform is powered by native AGT Tokens, which the company is offering as a part of its crowdsale campaign. The platform has created a total of 54 Million ERC20 tokens, with a potential to serve a significant portion of a market that currently has over 1.2 billion customers across the world.
The creators of AGT Platform have factored in the various shortcomings of today’s cab aggregation model, including the lack of transparency in pricing for customers and hefty commissions paid by the drivers amid increased competition. By introducing a democratized token economy into one of the first movers in the “Shared Economy”, AGT Platform eliminates middlemen and replaces them with an automated smart contract powered system, allowing drivers to retain most of their earnings, which in turn will make the rides a lot cheaper for customers.
In addition to the cost benefits, the platform also provides added safety to the customers with features like live tracking and more. It supports multiple cab booking models – Aggregator Model and Ownership model for the convenience of both drivers and customers.
The company’s business, as well as technology models, have been vetted by some of the leading legal experts and ethical hackers to ensure compliance across various aspects.
The platform is embarking on a closed group funding round from November 23, 2017. It will be followed by token pre-sale, set to go live on December 1, 2017, and then the main crowdsale starting December 15, 2017. The company aims to complete the platform development by next November and release it to public use by May 2019.
Following the success of blockchain-based cab aggregation project, AGT will shift its focus on Hotel and Airline Aggregation solutions.
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.
Disclaimer Due to current regulatory conditions in certain geographies, the AGT token sale will be unavailable to the residents of United States, China, South Korea, Singapore and other countries where the participation in ICO and token sales are banned. AGT Technologies is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.