Initial coin offering (ICO) project Geeba aims to combine blockchain technology with autonomous air and ground vehicles and smart hubs, to revolutionize the delivery of goods purchased over the internet.
The Qatari-founded and Rotterdam-based delivery startup has turned its focus to “last-mile” deliveries, the final step in the delivery process when a package is taken from a local distribution hub to the consumer’s door.
Instead of relying on big logistics companies, Geeba plans to establish decentralized ‘Smart Hubs,’ which incentivize owners with a portion of the delivery fee. Each Smart Hub will serve as the base of operations for a fleet of autonomous vehicles (either aerial drones or surface-based robotic vehicles), controlling delivery operations.
Geeba’s blockchain will record and store each transaction from start to finish, from initial order to confirmation, tracking a product, and final verification of its delivery. The platform will use Geeba tokens as its means of payment and profit distribution.
Geeba is looking beyond using blockchain as a distributed ledger. Specifically, the team aim to utilize the blockchain economy to enable the limitless growth of autonomous delivery robots. Using the Geeba Nest Market, supporters and the crypto community can invest and exchange Geeba tokens for ownership of a hub or a robotic vehicle, and earn from the delivery transactions processed through it.
Geeba is starting a private sale of its token on August 5, a presale on September 1, and is then conducting a public sale from October 6 until December 1, 2018. The project team have set a soft cap of $3.2 million and a hard cap of $28 million for the token offering.
400 million Geeba tokens will be produced in total, and sold at a rate of $0.10 USD during the offering. ICO participants will receive 70% of all tokens; 13% are reserved for bonuses and affiliates, 2% for bounties, 10% for the team, and 5% for advisors. Tokens not sold during the offering will be burned.