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Texxi allows people to dynamically share vehicle resources, whether they be private cars, buses, coaches, taxi cabs or Rolls Royces. This is achieved through a patent pending process using the ideas behind financial credit contagion modelling, social networking and an exchange to enable people to summon rides in vehicles (both shared and alone) by using handled communication / computing devices (e.g. mobile phone or smartphone). The world's first proven realtime, dynamic ridesharing system (patent pending) which uses mobile phones / smartphones, social networks and clever algorithms to allow people to get point to point transport in a city using the vehicle fleet as a private transit system. People can share rides, pay for rides through their Texxi accounts, buy scores of rides ahead of time and rate their experiences (vehicle, driver and co-passengers). http://www.texxi.tv
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The Transit Exchange
Pricing RoadSpaceTimeUsing ideas from agriculture
Transport and Logistics form two of the largest markets in existence on the planet
They underpin many, if not most, aspects of all our daily lives
From....
Food production and delivery
Getting to and from work
Social events
Getting to school
To the military .....
...and emergency services
And yet, these industries remain far less efficient than they could be
Constraining people and limiting the economic potential of many areas
Costing more than they have to
Wasting time and resources
And yet they could be further refined and extended by applying certain innovative concepts from capital markets
in a new, comprehensive, and integrated manner
So what is to be done?
The answer is a Transit Exchange
What is a Transit Exchange?
Conceptually identical to a commodity exchange where an intermediary (the exchange)
enables buyers and sellers to trade with one another in a transparent manner in an open market
An exchange solves the perennial "market formation problem" where such buyers and sellers do not have to be perfectly matched in real-time
Think of vehicle operators as farmers or agricultural growers
and the passengers as the produce buyers
This approach revitalised agriculture
As well as other types of commodity markets
To this day, the remnants of those exchanges remain in most British cities
Cardiff - Coal Exchange
Leeds - Corn Exchange
Liverpool - Cotton Exchange
Manchester - Wool Exchange
And American ones
Chicago - Board of Trade
Memphis - Cotton Exchange
So for the XXI Century - why not a Transit Exchange
T.E. XXI
The Transit Exchange for the XXI Century (Texxi) will reform the way all vehicular travel is planned and executed in every city in the world
Such a Demand Responsive Transit Exchange (DRTE) will thus allow people to effectively access
transportation resources in any municipality far more readily than currently occurs
using the market concept and the operating principles of a commodity exchange
The Current State of Affairs
Increasing numbers of carsIncreasing numbers of peopleSocial inequityPedestrian Hostile Cities and TownsNo walkable amenitiesNeed for more parkingIncreasing fuel use even as cars become more efficient (due to the marginal cost of car ownership being hidden)
In our analysis, by far the single biggest obstacle to urban economic growth and harmony are transport monopolies
Specifically the etiolating effect that transport monopolies have on whole areas of cities
Most people in most large (dense) cities only have a private car because without one they cannot get to the places they want to cheaply
If at all
Or at least when they want to
And thus those without a private car must rot
Whether the constraints come from some sort of gendarmerie or from an economic barrier to mobility
For a society to be free, there is a requirement for a certain amount of freedom in movement
Public transport by itself often does not suffice
However well intentioned the aims of the planners
A city should certainly not limit people to using just public transport
Choice is a paramount human right
A paratransit system is something that falls between the private car and the public bus
Paratransit is not particularly new and is sometimes also known as
Demand Responsive Transport
Demand Responsive Transit
DRT for short
Imagine being able to obtain point-to-point ground transportation (shared ride or individual ride) for a predictable* cost
(using any of several methods: SMS messaging, Smartphone, Plinth, VoicePhone or Web)
*[meaning you know before you go and you have some idea of the magnitude of the price before you confirm your booking]
This is the core aim behind Texxi and the DRT Exchange
Most cars carry only one person and are used less than one hour per day
This is clearly sub-optimal and there is room for improvement
To make the whole system work flawlessly, there is a need to fuse specific marketing execution with certain operational concepts
making use of the intellectual property that permits the dynamic grouping of disparate people
that allows the computer systems to interact with a variety of message origination devices
and to allow users to modify their preferences as they interact with the system
much like a software application
The marketing cannot be separated from the technology
The HLT Cloud
Tying it all together
Travel to a given city increases because of amenities and ease of travel combined with great hospitality within the city
Easy and well priced transport links to a city facilitates in-flows of visitors
Visitors will demand lodging and will either stay longer or return because of the quality of the experience
and / or other attractions such as entertainment
Which thus leads to increased demand for transport within the city
The city experiences increased trade and requires increased logistics to support that trade (delivery of food, etc.)
It may be clear that all three functions are symbiotically linked
The existing markets for freight derivatives are related to this but not in the sense that they directly integrate the hospitality industry with the logistics and transport industries
Instead consider that Hospitality, Logistics
and Transportation are inextricably linked to the extent that they may as well be considered as one industry
Texxi - The Electricity MarketTexxi - The 7 ModesThe Core Concepts of a Transit ExchangeTexxi - Company OverviewConnectivity of a Transit ExchangeTexxi - EU Market SizeTexxi - The Market OpportunityNew Transport Policy OptionsThe DRT Exchange ExplainedThe New Transport Economy (REPLAY)Results from Texxi Deployments 2006 - 2009Market Makers and Liquidity in DRT MarketsThe Long Tail for the Transport IndustryThe Evolution of Travel and Search
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