Blockchain-based taxi-hailing app launched in China, to improve safety

3 months ago
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The platform will be able to share information about drivers and rides among all users in a timely and transparent manner (Pic - Pixabay)

Following the death of two young women passengers in the Chinese ride-hailing industry, An entrepreneur has launched VW-Go, a blockchain based taxi-hailing app to improve passenger safety and increase the income of drivers. 

Founder Andy Chen Weixing says the platform will be able to share information about drivers and rides among all users in a timely and transparent manner.


"If a passenger, for example, sends out an emergency call, the shared network would enable other drivers and even the police to respond quickly."

“I think a good design of rules can definitely help improve safety, and blockchain is the very thing to design better rules,” Chen said in an interview.

Chen is pursuing his ride-hailing-on-a-blockchain initiative through a non-profit enterprise called VV Share, which plans to issue its VVS tokens for use on VV Go and other blockchain-based on-demand services the firm is looking to develop. Its sharing economy will involve the creation of 100 billion VVS tokens, about 80 percent of which will be distributed to users and the rest as a reward to VV Share’s core team and advisers.

Chen said because drivers, as users, essentially own the blockchain ride-hailing platform through tokens “protecting passengers and maintaining the platform’s security become their own business”. “That’s more effective than letting just one company take responsibility [for any issues],” he said.

 

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