14 May 18
News

Blockchain making its way into urban mobility

Originally known for the technology behind Bitcoin and other virtual currencies, Blockchain is now in the position of making its way into the increasingly connected urban mobility world.

This is due to its decentralized platform which enables the management of transparent and verifiable transactions which practically eliminates the chance of fraud.

As ride-sharing apps such as Uber and Lyft use centralized dispatching hubs to control their fleets, Blockchain could be used to manage ledgers and create a more user-driven and value-oriented service.

Arcade City, a ride-sharing startup which allows drivers to establish their own rates, is already using the technology, according to tech market intelligence platform CBInsights.

Meanwhile, to streamline vehicle leasing, buying and selling, Visa has partnered up with transaction management startup DocuSign. With the support of a Blockchain public ledger, they offer a “click, sign and drive” process which enables customers to sign lease agreements and insurance policies directly from the driver’s seat.

Photo: (Source: Salão do Automóvel de São Paulo, 2018)

Authored by: Daniel Bland