Luigi and Jiten of Refueler on Crypto Clothesline
Currently Luigi Antonuccio and Jitender Soodan, Co-Founders of RefuelerApp, are at the World Blockchain Summit in Dubai showing their project to listeners from all over the world!
The great news is they came 2nd out of 15 projects pitching internationally at WBS: an AWESOME achievement!
Crypto Clothesline met them however at the BLOCKConscious18 event in Brisbane earlier this year where we interviewed them LIVE on the couches…
What is Refueler?
“Refueler is a mutually beneficial app for both buyers and sellers of fuel – offering unprecendented savings and deals to the buyers, while increasing the trade volume and overall sales for retailers who are part of the Refueler network.”
This Adelaide-based start-up is a total gift for anyone who wants to secure the cost of cheaper fuel.
Basically, you can pre-purchase fuel at a lower price online via the RefuelerApp from a participating service station (currently there are over 500 service stations ready to onboard the platform), then refill your tank, using that pre-paid voucher, at a later date.
In other words, by pre-purchasing your fuel, you can buy it in the lower cycles, then fill up when you need to (within 7 days).
Fuel Price Cycle
In Australia, UK, USA and New Zealand, fuel prices follow a regular cycle: a large price increase, several small drops until it reaches a low, then another large jump to a new peak. These jumps often occur on a Thursday, Friday or Saturday and usually range between 20-30c per litre in Australia. A considerable amount if you’re filling the tanks of a couple of family vehicles at the end of the working week. Refueler not only reminds users to buy fuel when it’s cheap but also reminds them to collect it by using artificial intelligence to predict fuel cycles and send alerts to customers when prices are low.
“That amounts to nearly a quarter of the fuel price when at its lowest!”
For the average family with two cars with a weekly tank refill each of $80 ($160 total out of the family budget), Refueler claims you could save up to $30 a week. That’s a substantial saving that you can filter back into all those other demands for payment clamouring for your financial attention atop the bill pile.
Or… buy yourself some crypto! In a month that’s $120 of crypto, just waiting for an explosion in the next bull market. LOL.
By buying your fuel online, service stations don’t necessarily have to be physically ‘open’ to make sales, therefore generating more income for retailers, not to mention the extra in-store purchases coming from buyers who’ve pre-purchased their fuel, and come to your service station especially to claim their savings.
You can even trade fuel with others like friends and family members. What’s more, as an employer, you could pass these ‘droplets’ onto my employees.
This is a totally original idea and currently no-one else is doing it.
And it’s potentially huge because EVERYONE relies on fuel.
“Refueler is testing at the moment in Melbourne, with a plan to roll out their full platform by the end of the year.”
I was wondering why though, Blockchain technology was being used as part of the backend of the product. Luigi responded that they won’t be introducing Blockchain tech immediately but that it will be introduced for the peer-to-peer trading to build a trust layer into the process.
“The beautiful thing about our product is the average user will have no idea about the underlying Blockchain. Simply use your app, buy some fuel while it’s cheap, even if your tank is full or you’re at work. Blockchain will be used for transparency, security and reliability. Pay-at-pump technology has been hacked in the past.”
Business & Fleet
“Purchase in bulk and send credits to each of your drivers, allowing you to better plan your expenses. Downloadable statements, negate the need for keeping paper receipts.”
In terms of tax implications, given that passing fuel credits onto your employees would potentially amount to fringe benefits in the Australian taxation system, Refueler will issue you with a statement at the end of the financial year saying ‘here’s how much you’ve spent in droplets’ and this helps you with your bookkeeping at the end of the financial year, a real plus for busy business owners.
Partnerships: Refueler are looking to work with different partner companies like Aldi supermarkets for example, to provide even more value and special offers for consumers.
“Say goodbye to branded fuel discount dockets! Be rewarded every time you purchase from any of our Partners, regardless of brand – you could even earn a full tank!”
What’s even cooler: you can use you your ‘droplets’ or cash to actually donate a tree. Refueler is in partnership with CNCF (Carbon Neutral Charitable Fund plant trees for our planet.) You can help to offset your carbon footprint, restore the landscape, and revive biodiversity. You can even donate your fuel credits to plant more trees!
So you download the app which is www.refueler.com.au and get started!
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