Chasyr is a blockchain-based ride sharing platform first announced in July 2017. Find out how Chasyr plans to disrupt the industry today in our review.
What Is Chasyr?
Chasyr is a blockchain-based ride sharing platform founded by an ex-rideshare driver who has a passion for blockchain technology. That driver recognized that the blockchain could introduce powerful benefits to the sharing economy. Chasyr first appeared online in July 2017 in the form of a Medium blog post and a #Chasyr hashtag.
Chasyr aims to be a community-driven ride sharing service with a self-sustaining business model that delivers a better ride-sharing experience to users and drivers. The platform is built around Swarm City, which is building itself to be a cryptocurrency-based ecosystem with multiple products and services. Chasyr will be one of those services.
The company introduces itself with its slogan, “Driver Created. Community Driven. Self Sustaining.” With that in mind, let’s take a closer look at how Chasyr plans to work.
How Does Chasyr Work?
Chasyr is still in the early stages of startup. The company first announced itself to the world at the beginning of July 2017. At that point, the company announced plans to use blockchain technology to create a place where users can connect directly and transparently while building a public reputation within the Chasyr brand. They also announced plans to be “the first truly self sustainable ridesharing service in the world.”
Obviously, that all sounds good – but how does Chasyr plan to accomplish these goals? Before answering that question, it helps to know the background of the founder of Chasyr.
Who’s Behind Chasyr?
Chasyr was founded by Tommy Marquez, who previously worked as an Uber driver for two years. He claims the local Uber office called him the “Referral King” because of the number of driver signups he collected in his hometown of Fresno, California. Marquez led initiatives like a referral website called New to Rideshare. That website hosted the first ever Uber driver referral program, allowing anyone to benefit from Uber driver bonuses of up to $750 per signup instead of just a $20 ride credit.
Marquez also achieved recognition (from users and the media) for creating a Facebook group designed to replace the void left by Uber and Lyft in Austin when they temporarily ceased operations. Marquez later grew the Arcade City brand, which eventually morphed into Swarm City and launched its own cryptocurrency. Marquez decided to create Chasyr to take advantage of the Swarm City currency and ecosystem.
Chasyr uses the Ethereum blockchain to set itself apart from other ridesharing services. Key features of the platform include:
Uber has a reputation system that keeps track of driver and user ratings. With Chasyr, users will be able to see driver ratings before requesting a ride. You can see the number of successful rides each driver has completed, and the driver can see the rating for each passenger. Currently, with platforms like Uber, drivers can see passenger rates before accepting a pickup, although riders can’t see driver’s ratings until after the driver has confirmed the pickup. Chasyr wants to change that, allowing motivation – and good ratings – to push the platform forward.
Chasyr tokens will be used in a similar way to buying upgrades in games that use their own coins. Chasyr users will spend tokens on rides. The tokens are a type of cryptocurrency designed by Swarm City, where they can be used to access all different types of services. Chasyr describes Swarm City as “like the Google Play Store of blockchain or Twitter 3.0”. Swarm City created a token called SWT that has a value of $2.50 USD. Early adopters of Chasyr will need to obtain Swarm City tokens to use the service.
Swarm City tokens were originally priced at 0.09 cents per SWT. The tokens rose to a price of $2.60 at the time the first Medium.com Chasyr post was published (July 2017), and have dropped to about $1.09 in value as of August 1. Drivers will hold some of the circulating supply of SWT.
No Driver Bonuses Required
Chasyr will avoid Uber’s promotional programs – like offering drivers $500 for referring other drivers to the platform. Instead, Chasyr will incentivize drivers with SWT tokens. Drivers have the opportunity to hold SWT tokens and watch them grow over time. They own a portion of the company, and can watch that portion grow. Early adopters receive the biggest rewards when the company “goes big”.
Conclusion: What’s Next For Chasyr?
Chasyr is still in the early stages of startup. The company is also waiting for Swarm City to complete its development, and any Chasyr releases will need to occur after a Swarm City release. Right now, all that exists of Chasyr is the #Chasyr hashtag on the Swarm City platform. You can follow that hashtag to get updates on the project as it moves forward.
For the summer, Chasyr’s goal is to build its brand and spread its message of a self-sustainable, driver-created ridesharing platform. The company has announced no further details of its program. However, you can sign up to receive more information through Chasyr.com, where there’s an email address form.