ZeroTraffic – ZTT ICO Traffic Congestion Management Blockchain?
ZeroTraffic, found online at ZeroTraffic.io, is a congestion management solution designed to make our roadways more efficient. Find out how ZeroTraffic works today in our review.
What Is ZeroTraffic?
ZeroTraffic is a traffic management platform built using cryptocurrency-based governance models. The company plans to take control of road traffic problems and create cities with efficient, free-flowing traffic.
In order to do that, ZeroTraffic is using a cryptocurrency-based democratic governance model, incentives, GPS and Bluetooth data, and more.
Basically, ZeroTraffic will analyze traffic patterns, then implement a time-shifting solution to create the most optimal traffic flow. Drivers will receive an incentive – in the form of ZeroTraffic Tokens and a gamification system – in exchange for altering their commute and improving traffic flow.
To bring the project to completion, the developers of ZeroTraffic are using their experience in creating Canada’s largest intelligent highway system. ZeroTraffic is based on Toronto.
Obviously, we’ve seen blockchain and cryptocurrency technology have a dramatic impact on a number of industries already. Let’s take a closer look at how ZeroTraffic plans to take blockchain technology to an industry where it’s never been applied before – the traffic management industry.
How Does ZeroTraffic Work?
ZeroTraffic works in a novel way. Here’s the step by step process:
- Step 1) Investors buy tokens to become a Deputy Mayor (DM)
- Step 2) The DM is assigned a district area near his or her preferred location
- Step 3) The DM provides his district’s congestion information via the ZeroTraffic mobile app
- Step 4) Commuters can choose to avoid congested areas based on information from the ZeroTraffic app
- Step 5) ZeroTraffic uses intrinsic motivators through gamification technology to modify the behavior of commuters
Overall, ZeroTraffic claims that they need just 5% public participation to provide flow-free traffic in any particular district. At this point, investors and all commuters are rewarded with better traffic flow.
ZeroTraffic achieves better traffic flow primarily by encouraging drivers to drive at different times of the day, or by different routes. If a freeway is packed with traffic during a certain time of the day, then ZeroTraffic may get drivers to leave later in the day to avoid the crunch of traffic. Alternatively, ZeroTraffic may recommend routing through side streets to avoid the congested freeway.
Overall, ZeroTraffic claims that the average peak commuter in an average city will save $6,667 a year by timeshifting. They base this information on an average salary of $80,000 a year, an average number of commute days of 200 days a year, and an average commute time of 30 minutes each way. Commuters can make even more money when they consider time savings outside of work – like when shopping for groceries or running errands.
ZeroTraffic’s mobile app has two key features, including a virtual transponder and a gamification system. Let’s take a closer look at both of these features below.
Virtual Transponder App
The ZeroTraffic virtual transponder application is a GPS-enabled smartphone app. The main goal of this app is to calculate the metrics used for the incentive program to award points. The parameters required for the calculation of the metrics, including the exclusions zone and home/work addresses, will be stored on the smartphone. Traffic authorities can define congestion zones to best address key congestion points.
ZeroTraffic’s gamification system is central to the app. These game elements are employed in a non-game environment as a way to encourage drivers to adopt desired behaviors. It engages users online with the aim of influencing and modifying their behavior offline. Users will be targeted with intrinsic motivators like “social good”, “environmental impact”, and more. The goal of this system is to keep drivers engaged and motivate them to modify their driving behavior. Key elements of the gamification system include:
- Rich, Socially-Enabled Gamification: The ZeroTraffic website is the primary portal through which users interact with the gamification system. Drivers can use this system to review their past performance, set goals, and receive rewards or incentives.
- Reward Calculation Algorithms: ZeroTraffic uses collected metrics from the Deputy Mayor and virtual transponder app as the primary inputs when calculating rewards.
- Social Elements: Compete with friends each week to see who can collect the most rewards.
- Challenges: Challenge yourself to achieve new records and limits through the ZeroTraffic gamification system.
Who’s Behind ZeroTraffic?
ZeroTraffic is led by Stuart Berkowitz, CEO and President, who founded Array Systems Computing Inc. when he was a PhD student at the University of Toronto before later graduating from Cornell. Other key members of the team include Kristopher Huber (CTO), Rajesh Jha (VP of Engineering), and Roberta Webber-Manners (Project Engineer).
ZeroTraffic is based in Toronto.
The ZeroTraffic Crowdsale
ZeroTraffic is launching its token sale on September 5, 2017. The company will sell ZeroTraffic Tokens (ZTT) at a rate of 1 ETH = 275 ZTT. The ICO is expected to run for 30 days.
Token holders will receive dividends of 4% per year. Bonuses are available throughout the first few weeks of the sale.
If you want to hold a Deputy Mayor position, then you’ll need to hold ZeroTraffic Tokens. At least 1250 ZTT are required to fill the role of Deputy Mayor.
What Makes ZeroTraffic Different
Obviously, apps like Google Maps and Waze provide a basic solution to traffic management. How does ZeroTraffic plan to differentiate itself from the competition?
The company officially addresses this issue on the official website, where they write the following:
“Our goal is to provide both a benefit to the individual user (shorter travel time) and society since less congestion, ie. less cars on the road during peak travel times, means we all benefit. Waze and other apps like Google Maps do a good job of providing quickest routes given the current congestion due to things like accidents, weather, events, etc. This is referred to as non-recurrent congestion. ZeroTraffic attempts to engage and motivate people to delay or reschedule their trips to off-peak hours. The benefits to them is shorter travel times.”
ZeroTraffic also differentiates itself from the crowd through the use of an incentive-based system. Drivers receive rewards in exchange for altering their paths or commute times. This is something we don’t see with Waze or Google Maps:
“They are also rewarded with points, which will give status rewards. Time shifting trips helps to reduce recurrent congestion which is something Waze does not do. What's amazing is that small reductions in traffic volume have dramatic effects on travel speed.”
ZeroTraffic is a traffic management app that aims to take blockchain technology to a new industry: the world of traffic management. Drivers and municipalities can use ZeroTraffic and ZTT digital tokens to help manage traffic flow within a certain geographic area. The platform will help adjust drivers to a new schedule. By affecting just 5% of drivers, the platform claims it can provide free-flow traffic in the targeted area.
To learn more about ZeroTraffic, or to learn how to participate in the ICO, visit the company online at ZeroTraffic.io