Ride-Sharing Faces Disruption by Blockchain Moving into 2017

Blockchain has become a buzzword over the last couple of years. However, blockchain is one of the most disruptive technologies in our lives and communities. The recent events relating to Uber and Lyft have opened a space for a new ridesharing source (or application, as it were) to break into the market. Two Blockchain-based startups are seeking to fill this void. Say hello to Arcade City and the Israel-based “Utopian, Hippie Uber” La’ Zooz, as named by Bloomberg Technology.

La’ Zooz and Arcade City both use blockchain-based platforms to deliver their unique, Ethereum-based currencies and encourage individuals to fill their extra seats for efficiency. Drivers are rewarded with the respective currency, and the cities that we inhabit are rewarded with less traffic and lower drive time as a direct result.

Disruption is the result of creating a better or more efficient way of doing things such that a previously dominated industry is forced to adapt or become obsolete. Uber and Lyft connect you to your ride, but as we move into 2017, you may connect with your ride via a new, decentralized application. It looks like that app will probably be either Arcade City or La’ Zooz. Both are based on an Ethereum blockchain and use a multi signature wallet to prevent any one individual from taking advantage of the system.

CoinTelegraph has reported a gain of over $600,000 in capital by Arcade City after their founder resigned. Their development team has also progressed to find a solid base of over 40,000 people in Austin, TX, and are looking to expand their reach into other cities across the U.S.

  • Subscribe to our newsletter