Chinese Ridesharing App Founder To Create Blockchain Taxi App

Announcements, Blockchain | May 29, 2018 By:

Chen Weixing, founder of Chinese ride-hailing app Kuaidi Dache, is planning to develop a blockchain-based ride-hailing app to rival current operators.

“Ride hailing is the first time blockchain will be tested on a social application on mass scale,” Chen said on the sidelines of the China International Big Data Industry Expo 2018.

Chen will be partnering with Yang Jun, co-founder of Meituan, to launch the project. Both Chen and Yang are actively involved in the blockchain space. Chen is currently the founder of app developer Funcity and Yang is the founder of Skyline Invest. The ultimate aim is to create a platform that will offer lifestyle services such as ride hailing and deliveries, among others.

“I’ve been asking myself what’s the value of the blockchain,” Yang said. “My definition is to see whether and where people can actually use it. With the use of blockchain, we can build a set of economic systems different from the previous ones…We can direct traffic from the Internet and add on different services to meet users’ needs.”

Neither Chen nor Yang disclosed details regarding the project’s timetable. It remains to be seen how they plan to address blockchain’s scalability issues for the ridesharing industry and which blockchain platform would be used to develop the app.

The move by the two Chinese entrepreneurs won’t be the first foray into blockchain-based ride-sharing. In 2016, Arcade City launched a platform that allows drivers to set their own rates while riders are free to choose their own driver.