Blockchain Solutions For Ride Sharing Industry Like Uber
Incorporate Decentralized Ride Sharing System With Mutual Benefit To Secure Riders and Drivers
Blockchain Solutions For Ride Sharing Industry Like Uber
Blockchain to Disrupt Uber
Ride sharing has become the most common industry almost in every part of the world. Today, more number of people choose to hire or rent a car for their travel. This has given raise to companies like Uber. At present, Uber serves as a middleman between the driver and the rider. The business operations are managed in a centralized hub and it has certain drawbacks too. Alike other industries, Blockchain is all set to disrupt car sharing industry like Uber. Implementing blockchain will benefit both the riders and drivers by creating a decentralized platform to connect with eachother directly without any intermediary.
Blockchainappsdeveloper is a leading blockchain development company expertise at offering exclusive blockchain solution for Uber. Engage with our dedicated consultants, get strong knowledge on the application and working of blockchain at Ride sharing industry, to incorporate the right decentralized application for your Uber like industry.
How Ride Sharing Works at Present ?
The present Uber system is centralized and there is no direct dealing between the rider and the driver. This has brought some challenges to the industry and the participants involved (rider and driver). To enhance the security and privacy, the existing system invests a huge millions of amount for various innovations, but it doesn’t yield the desired result. The current working ecosystem of cab services is centralized and the process is as follows.
- The rider sends a ride request to the cab service company like Uber and the company receives the request.
- As per the riders request, the cab service provider will assign a specific car and driver for the rider.
- The details of cab and driver is sent to the rider and they complete the ride.
- Once the ride is done, the payment will be notified by the cab service provider and the rider has to pay for the ride.
- Finally, cab service provider will take certain part of amount as commission and sends the money to the driver.
Challenges at Ride Sharing Platform
Cab services are in high demand in the today’s market and more advancements are introduced to give a better and secure experience for the riders and drivers. Despite making changes to bring high security, this ride sharing industry has some loopholes. Here are some of the major problems that exists in a ride sharing platform.
Intermediaries lead to High Cost
At present, when a rider books a cab, the cab company receives notification and they will allot a driver for the ride. In this case, the company charges certain share in the total ride’s price, hence customer will be charged more. In short, cab company serves as an intermediary between the driver and rider, resulting additional cost.
There is no transparency in the working process. The riders are not clearly said about how the cab company works and functions. There might be problems like sudden hike in price and the riders don’t get a clear understanding for surge in price.
The existing system doesn’t have a proper mechanism to take care of the safety of rider and driver. The chance for fraudulent activities and crime are high, despite having numerous verification.
When a rider books a cab, it first goes to the service providers like Uber, and those providers will then assign a car for the rider. Though the process is easy, it involves middleman and might take few minutes for processing.
Blockchain Application For Ride Sharing
Implementing blockchain to the current cab sharing ecosystem would eliminate the need for a third party in the process. Smart Contract embedded with all the rules, regulations and required information will execute as per the functions defined.
- The divers details will be built on IPFS on the permissioned blockchain. As the driver added to the network, smart contract notifies the legal rules and regulations to the drivers. Also, smart contract verifies that the driver abide to the rules and regulations specified in the smart contract. When the drivers licence expires, they will be notified to update the licence information on timely basis.
- After drivers information, the riders profile will be created. Details such as name, phone number, address, mail address and an ID proof will be uploaded. The smart contract will follow certain legal formalities to ensure that the riders are no danger, for the safety of the drivers. This generates ratings for rider and driver, so that both the parties can decide whether or not to accept the ride.
- Location of the driver and the number of seats available will be shared instantly to all the members in the network. This helps riders to book cab near to them and also the smart contract will fix a price for the ride based on specific factors like traffic, standard mile rate and type of car. This will make the process transparent and riders know the basis of price calculation.
The flow of Uber Blockchain goes as follows.
- Rider request ride with information like destination, number of seats, car type, time, etc.
- Through smart contract, the rider and driver decides the ride based on ratings.
- If rider or driver is not satisfied with each other, they can accept or reject any request as per their choice
- Once the rider and driver agrees to the ride, the ride proceeds and smart contract will set a price for the ride based on the rules written on smart contract
- Once ride is done, the driver will get the money directly from the customer as there is no intermediary.
Features of Our Blockchain Solution for Ride Sharing
Blockchain enables the rider to connect with the driver through decentralized platform in Blockchain. Smart Contract simplifies the entire process will no complexity in the ecosystem. The following are the advantages of integrating blockchain at your cab services.
- Low Cost ride for rider
- Transparent Pricing Method
- Safe and Secure
- Clear Environment
- Mutual understanding between rider and driver
- Economic opportunity
- Drivers receive whole amount from rider
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