Chen Weixing To Launch Blockchain-based Taxi App
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Chen Weixing To Launch Blockchain-based Taxi App

The founder of Kuaidi Dache, a Chinese ride-hailing company, Chen Weixing is planning to launch a blockchain-based Taxi app as reported by China Money Network.

Kuaidi Group is one of the most technologically integrated and the largest car service company in the world and is rapidly transforming the concept of moving people – starting in China. The app combines integrated mapping and third-party payment technology to make its service accessible to everybody and provides over 1 million taxis and a variety of standard and luxury cars for all lifestyles. To ensure the service fits smoothly into urban life, Kuaidi has developed a framework that is adaptable to other platforms in China and that can work in partnership with China’s government and regulators instead of against them.

Chen along with the co-founder of Meituan Yang Jun will launch this project. Chen seeks to make such a platform that will provide lifestyle services like ride-hailing, deliveries and so on. Jun reported at the China International Big Data Industry Expo 2018:

“I’ve been asking myself what’s the value of the blockchain. 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.”

Additionally, Chen said that “Ride hailing is the first time blockchain will be tested on a social application on mass scale.”  So far no details have been disclosed by either Chen or Jun regarding the project’s timetable.

In 2016, Didi Dache merged with Kuaidi, which is now a part of Didi Chuxing. At present, the worth of Didi Chuxing is 60 billion USD. They are supposedly aiming an initial public offering at a higher valuation. In the year of 2016,  Meituan merged with review site Dianping and is now valued at 30 billion USD. Meituan is an on-demand local services firm.

 

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.