At long last, we're excited to present to the Ethereum community the release version of our whitepaper, including plans for our token sale now scheduled for November 1st at 3pm UTC.
We've been banging on pots and pans since January
that we intended Arcade City to be the decentralized, Ethereum-based
answer to Uber. In April we laid out our multi-stage path to complete decentralization over time
, then announced plans to submit a DAO proposal
- oops! - and just recently added a crew of experienced Ethereum developers
who've built a functioning Ethereum ridesharing prototype
in record time.
In the meantime we've made substantial progress 'on the ground' in cities all over the world, with our flagship ridesharing network in Austin giving tens of thousands of safe rides in a completely decentralized manner.
Now we're ready to combine our decentralized organizational model with the solid decentralized tech that can propel our project further into the mainstream.
Responding to your questions and comments below will be our 7-person ‘City Council’, as well as a few other folks who’ve been involved with Arcade City thus far.
Our Reddit usernames are included in the Team Bios section below.
What is Arcade City?
Arcade City is a decentralized global community of peer-to-peer service providers and consumers. The core technical offering is an Ethereum-based app for web, Android and iOS. Arcade City features an open ecosystem with forthcoming APIs to enable developers and entrepreneurs to easily create their own apps and service offerings as part of the Arcade City network. Initial service offerings focus on the ridesharing industry, with plans in motion for peer-to-peer deliveries and short-term home rentals.
Arcade City aims to reinvent the sharing economy by combining the power of blockchain technology, open-source development, platform cooperativism, and a decentralized ‘swarm’ organizational model open to all.
A hackathon, you say?
Assuming our token sale sells out by the end of November, we'll be throwing an online hackathon open to any Ethereum developers, with a minimum of $100K USD value in prizes, payable in ETH or ARC.
We'll announce super final details about start and end dates, judges and such, after the sale, potentially as soon as the first week of November.
The basic idea of the first hackathon will be to build out the functionality described in the Arcade City Infrastructure section of the whitepaper
: the offers, disputes, guilds, referrals, reputation, and assurance systems, with a likely priority on the reputation system.
We intend to crowdsource the majority of our Ethereum development via multiple hackathons with everything open-source on GitHub
Check out the eye-popping revenue projectons in our whitepaper! Then imagine the majority of that revenue flowing into the Ethereum community by way of incentive prizes to accelerate the decentralization of the sharing economy...
- IBTimes UK - 'Decentralised Uber' Arcade City wins Europe's biggest blockchain competition
- Bitcoin.com - ‘Decentralized Uber’ App Delivers 1,000 Meals in Austin, Texas - (The most-viewed article on Bitcoin.com)
- Our Austin push was featured in TechCrunch, The Guardian, National Review, VICE, Austin Inno, CoinTelegraph and more, with mentions in Newsweek, Bloomberg, The Economist, The Atlantic, Reason, Business Insider, and countless local media outlets.
** Christopher David (MillennialChris) - Mayor **
Christopher David founded Arcade City in December 2015. A former Uber driver
, Chris initially envisioned Arcade City as a decentralized, driver-run competitor to Uber. As a blockchain enthusiast and proponent of radical decentralization, Chris was the first to recognize the larger potential of Arcade City as an unstoppable engine of mass peer-to-peer transactions across countless industries and countries all over the world. Using skills acquired during years of grassroots political organizing, he led the growth of Arcade City from an idea into a global movement on a shoestring budget. After much trial and error, he somehow managed to attract an amazing team of talented visionaries passionate to fulfill on the greater vision of Arcade City to ‘decentralize all the things'. Chris has a bachelors degree in international relations, a black belt in tang soo do, and a really loud mouth. And he thinks you should read Swarmwise
** Jennifer Williams (ArcadeCityJenny) - Vice Mayor **
is a founding member of the Arcade City Swarm and has served as the Director of Support since February 2016. She contributes on a full-time basis to expanding operations globally with the other founding members. Together they give new members the necessary tools and resources needed to efficiently and effectively navigate the Arcade City ecosystem. Her primary motivation is to guide, educate and liberate individuals by making information accessible through email, social media, and the Arcade City Help Desk that she designed. After her studies in graphic design and holding several corporate managerial positions she decided to exit the proverbial ‘hamster wheel’ and pursue her entrepreneurial goals which led her to ridesharing. Jennifer has 2.5 years of rideshare experience, has mentored 400+ new drivers, and served as a marketing coordinator, brand ambassador and recruiter, which has given her extensive knowledge of the industry. Through her work with Arcade City she has gained interests and insights into cryptocurrency and blockchain technologies, and she believes that implementing the latest technologies will help Arcade City supercede the ridesharing competitors by eliminating the middlemen and allowing drivers to earn fair wages and build stronger communities while saving riders from price gouging.
** Lauren Slade (ArcadeSlade) - City Manager **
Lauren Slade is an accomplished operations and support professional with over four years of direct experience providing tactical strategies ranging from small startups to large scale teams operating globally. As a forward thinking tech leader she believes in pairing laser-focused user observation with a great amount of drive to constantly improve ways of operating as the most definitive route to unstoppable success. Lauren is steadfast and committed to collaboratively solving meaningful problems with a team who values getting things done. She joined Arcade City full-time in June of 2016 to direct the V2 integration of decentralized management systems and develop operational growth processes. Lauren looks forward most to ensuring Arcade City becomes a self-sustaining business model, free of a central governing council from the top down. Her passion for process-minded management and developing teams inspires her to successfully scale and balance hyper growth within talent and project recruitment. As a natural planner she enjoys getting down to the detail on performance and tracking metrics.
** Kristien De Wachter (kikipluche) - City Planner **
Kristien De Wachter has over 10 years of experience in project management and operations. In the beginning of 2015 she reinforced A-Labs, the City’s digital innovation lab. As lead of A-Labs, making the bridge between experiments and the “outside world”, tackling all problems that obstruct the way towards a good end-product, making sure all team members can work and think freely towards the common goals. Working on decentralization for more than a year. She joined forces with Arcade City on the 23th of September, as a liaison between the dev team in Antwerp and the swarm and swarm leaders, making sure all the cats run in the same direction, always with respect for everyone’s individuality and strengths. Believes Arcade City will bring freedom to every individual.
** Stefaan Ponnet (sponnet) - Engineer **
Stefaan has 15 years of experience in software development, design and architecture. He managed a software company for 6 years and worked for large companies as well as emerging start-ups. Interested in the possibilities of decentralized systems, he was an early Ethereum follower. Since september 2015 Stefaan has been full-time involved in developing Ethereum prototypes for government in the city of Antwerp. Stefaan has a passion for open source methodology and loves to solve technological problems. Stefaan and the Antwerp team joined Arcade City in September 2016 by publicly pledging our support to the community. Stefaan will add his expertise by developing all necessary building blocks - like Smart Contracts , Dapps, APIs, and anything else needed to make this new economy a reality.
** Michael Thuy (kingflurkel) - System Architect **
Michael Thuy has been studying and working on decentralized technology for the past 2 years, mostly from within the City of Antwerp's digital innovation lab 'A-Labs'. In the past year he has been working on concepts like Blocktube and Locals World. From a strong ideological and technical background he manages to mash up cutting edge technology to come up with all-round concepts. Meeting Arcade City, he felt he had no other purpose in life than to contribute to Arcade City's swarm. Michael is co-authoring the Arcade City whitepapeconcept and building on the PolymeEthereum prototype. With Arcade City, Michael wants to make sure his kids grow up in a different economic model than he did. He also would like Arcade City to be the de facto economic model on Mars.
** Ben Adriaenssen (Ben_AC) - Brand Architect **
Ben Adriaenssen after finishing his studies in ‘Visual Arts - Graphic Design’ found that working in advertising agencies or graphic studios was not fulfilling his strong urge to do something good for the world and the people in it. Applying his skill-set to communicate about random services or products wasn’t enough; he wanted to make a difference. Working for the City of Antwerp was a big step in this direction. While starting and working in the City of Antwerp's digital innovation lab 'A-Labs', his lifelong passion for creating digital interactive things has been reignited. Focusing on blockchain-technology was another big step to combining the love for design with the passion for people. Ben is thrilled to be able to contribute his value to a project like Arcade City. Working in this innovative decentral way, with like-minded people in a swarm structure, is for Ben a dream come true. He hopes Arcade City can put the power, literally and figuratively, back into the hands of the common man.
We could go on...
But to keep this to a somewhat manageable length, we'll stop here and answer any questions.
How can we earn your support?
As you all know the price of Bitcoin is climbing to significant higher price points ($150+) due to more and more positive news coming out over the validity and therefore acceptance of bitcoin. I'm a firm believer that we will see new highs for the price of bitcoin sometime this year. I have come to the conclusion 3 months ago that the price has to increase and test the $266 high sooner rather than later. There are several reasons and events that have happened over the course of the last 3 months that have consolidated this view. submitted by
1) The number one reason which evoked this thought was that mining difficulty was getting rapidly higher (at a rate of 30-35%) and the 2016 blocks completion rate was getting faster. However, at the time the price was stagnating at $100-110. This would render mining not very profitable and soon more powerful ASICs would need to come to the market to justify the continuation of mining activity or the mining market would collapse or perhaps the PoW function would need to be re-thought. Something had to give and I thought it would be the price. I felt we would need to see $150-250 prices but only in a favourable environment where more people would see bitcoin as a legitamate currency. This favourable environment was becoming more and more apparent after hearing various VC investors ploughing millions of dollars into start-ups.
CLARIFICATION: In a favourable environment more miners enter the market with newer, more powerful ASIC hardware rendering the current miners with their less powerful and now outdated ASIC hardware no longer profitable. This forces the current miners to hold on to their Bitcoins and wait to sell at a higher price removing this supply of Bitcoins from the market. This creates an upward price squeeze in a favourable environment.
2) VC funding into many bitcoin start-ups has taken off dramatically over the summer where coinlab got $500,000, Coinbase raised $5million and many other Bitcoin startups received $10,000-50,000 from Bitcoin venture capitalist firm BTCVC. While there were lots of early technologies that had funding and failed in the past several decades bitcoin, atleast is the only technology that is becoming adopted in over 80 countries world wide. For a currency Bitcoin is apolitical for a technology it is still not fully utilised. VC funding tends to happen when hope/speculation and confidence in a technology is evident and there seems to be plenty of confidence in it.
3) The closure of Silk Road in my opinion is a great thing for Bitcoin only because it removes the association of illicit drug commerce and the notion that such illegal activity is the main utility of Bitcoin. Regardless of what anyone thinks of drug use and trade it's evident that the number one currency used to trade illicit drugs is the US dollar and notably the $100 bill. Example of note is HSBC's direct involvement in facilitating transfers of $650m of Latin American drug money to and from the US which supposedly prevented a total financial collapse in 2008.
4) Many countries other than US have given Bitcoin the green light for acceptance: Germany legally declared Bitcoin as private money and legal tender (thats subject to tax but at least its legal), Canadian and UK financial services governing bodies declared that no legislation will be placed on Bitcoin, the exchanges or services. Government sanctioned Chinese state TV channel CCTV twice aired documentaries on Bitcoin in the summer.
Overall there are more and more services and utilities for Bitcoin cropping up every week and with that more and more confidence in the digital currency is observed. This is now reflected in the price but some like Falkvinge will argue that it's overpriced due to speculation. But what's wrong speculation? In financial markets, every currency, commodity and company need speculators as ultimately speculators aid the price discovery and determine a fair value. In turn the resulting liquidity indirectly provides wealth and value to the company/commodity/currency.
As shown in this article one of the main issues with Bitcoin is that it doesn't know if its a currency, commodity or asset as it exhibits all three tendencies but conversely therein lies its strength as well. Bitcoin has a set of properties that allow it to have all three classifications and I believe confidence in its adoption is gained by this fact.
Indeed the original premise of Bitcoin is that it's a currency and fulfils the basic criteria which makes it money; it's a medium of exchange, divisible, fungible, portable and scarce which supposedly gives it a store of value. Hence it's been coined the term digital gold. Like Gold it's apolitical however, unlike Gold where it's tangible and safe in ones possession Bitcoin's store of value is derived from its core attribute and that is its cryptography. Paradoxically Bitcoin is not tangible but it can be sent to the other side of the world in minutes and that is value. It can also be stored on a thumb drive and taken across borders without anyone knowing. This is not possible with gold. Bitcoin achieves this with the help of its encryption protocol. The Sha256 encryption protocol so far cannot be cracked and as long as that is secure Bitcoin's utility as a digital currency/asset/commodity remains and with that greater adoption and further fair value determination.
The future is bright, the future is Bitcoin
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