Blockchain Technology for Ride Sharing

Ride apps like Uber and Lyft represent the opposite of decentralization since they essentially operate as dispatching hubs and use algorithms to control their fleets of drivers (and dictate what they charge). Blockchain could inject new options into that dynamic: with a distributed ledger, drivers and riders could create a more user-driven, value-oriented marketplace.

Startup Arcade City, for example, facilitates all transactions through a blockchain system. Arcade City operates similarly to other ride-sharing companies but allows drivers to establish their rates (taking a percentage of rider fares) with the blockchain logging all interactions.

This allows Arcade City to appeal to professional drivers, who would rather build up their own transportation businesses than being controlled from a corporate headquarters: drivers on Arcade City are free to set their own rates, build their own recurring customer base, and offer additional services like deliveries or roadside assistance.

Source: https://www.cbinsights.com/company/arcade-city

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