The DAV Network ICO
What is DAV Network?
DAV Network plans to disrupt the transportation industry. Citing research done by Strategy Analytics, the DAV team claims that a new "passenger-economy" is emerging in which consumers will increasingly rely on autonomous vehicles to get them from place to place.
While some companies are attempting to take advantage of this trend, most of them are trying to create centralized networks in which competitors will be excluded. The DAV team believes this centralization is a mistake. They cite the rise of the Internet as proof that decentralized, open-source networks grow faster and are more profitable for everyone over the long-run than are closed networks.
The DAV Network is being created to allow this decentralized system to form and grow over time.
How does DAV Network work?
The DAV Network consists of individuals called entities. An entity can be a passenger, an autonomous car, a passenger drone, a charging station, or any other unit that may want to participate in the network.
Each entity possesses a pseudonymous identity. This identity includes historical information about transactions it has completed and reviews it has received. This allows each person interacting on the network to judge which entities it considers to be trustworthy. At the same time, it protects the privacy of everyone on the network.
DAV Network uses a peer-to-peer protocol based on Kademlia DHT to allow entities to discover each other. In addition, it uses the Quasar algorithm to facilitate communication between entities. This allows for entities to discover and communicate with each other without needing a central authority.
When a buyer requests a service, he/she sends a broadcast of what is needed. This broadcast is received by all of the entities that have advertised themselves as being capable of delivering that service. Sellers then bid on that request.
Once a buyer chooses a service-provider, a smart contract can be signed. The contract will have one or more steps that have to be completed in order for it to be considered fulfilled. Once this contract is fulfilled, escrowed funds are paid to the service-provider.
For example, a passenger may request to be taken to a particular destination. After sending the request, he/she is given several providers to choose from. After choosing a provider, the passenger escrows funds to a third-party wallet. Once the passenger is dropped off at the destination, he/she presses a button on a smartphone app that acknowledges the trip has finished. The funds are then released to the provider.
How is DAV Network unique?
The principal competitors to DAV Network are Lyft and Uber. Google has also recently invested in an autonomous vehicle network, and may become a competitor in the future. However, these networks are controlled by central authorities, and the team believes this will hamper the growth of these traditional ride-sharing networks.
Who makes up the team behind DAV Network?
The DAV Network core team consists of experts in the automotive industry, aviation, aerospace, emerging technologies, and autonomous systems.
This includes CEO and Founder Noam Copel, CTO and Co-Founder Tal Ater, and Co-Founders John Frazer and Joe Lopardo. It also includes Dr. Alan Messer (former CTO of General Motors), Dr. Scott Horowitz (former NASA Associate Administrator), Jay Adelson (founder of Equinox), George D. Zamka (former executive at FAA), Jerome Ferguson (Director of Autonomous Systems at UPS), and 20 other advisors, developers, and marketers.
In addition, the DAV Network benefits from over 140 open-source contributors.
More details about the DAV Network ICO?
The DAV Network ICO is launching at 1pm (GMT) on 30 April, 2018 and is due to end at 1pm (GMT) on 13 May, 2018. Investors that want to participate will need to sign up for the whitelist, which can be found here. For the public, tokens will be transferable 14 days after the ICO ends.
The DAV Network tokens will cost 1 ETH per 10,000 DAV tokens. The minimum and maximum caps for individuals are 0.2 ETH and 150 ETH, respectively. The team’s goal is to raise 76,000 ETH.
The May 8 ICO will comply with the following allocation strategy:
- 40% will be sold to investors in the token sale
- 25% will be allocated to the DAV Foundation to be used for partnerships, bounties, and community grants
- 20% will be allocated to the DAV Foundation as a reserve for the company. These will be locked and released over a 60-month period through linear annual cliffs
- 15% will be allocated to the team. These will be locked and released over a 15 month period through linear quarterly cliffs
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. It's a mere summary of the details of this ICO. Please conduct your own thorough research before investing in any cryptocurrencies.