Decentralized ride-sharing is coming soon!
We started this edition with an Uber analogy; because everyone knows Uber.
Let's round this week out with a story about how one group is taking that very well-known concept of ride-sharing, and taking it to the blockchain.
The Decentralized Engineering Corporation (DEC) has already created the first version of The Rideshare Protocol (TRIP).
'Decentralized,' 'protocol' - we get that terms like those can sound like mumbo jumbo...
Basically, DEC has developed code that is specifically focused on making it really easy to develop new ride-sharing apps (that's the protocol part).
And it uses the power of blockchain technology, so no individual company owns all of the users' data (it's decentralized).
Right - so here's what makes this interesting:
Innovations like TRIP will most likely spur both cooperation and competition from new companies looking to make their own Web3 ride-sharing dApps. It's not that hard to do so, given TRIP is open-source (available for all to use).
And more cooperation and competition amongst companies means a better user experience in the end for both drivers and passengers.
While it's yet to be launched, a token will be used for governance of the protocol.
Meaning decisions will be put back in the hands of the people who actually use the services the TRIP protocol supports.
Who knows? Maybe it will push ride-share giants like Uber and Lyft to put their big brains (and big wallets) into further development of Web3 technology (all the while potentially onboarding millions).
Oh, and btw, this whole article is about the fact that DEC just raised $9M in order to further make their vision for TRIP a reality.
Nice!
