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CabChain

A decentralised ride sharing economy


The problem CabChain solves

We have tried to create a platform where cab drivers and riders can meet. The prime advantage over traditional platforms is that there is no middleman which means that drivers get to keep 100% of the fare and the customers potentially pay less since the price is decided by the forces of a free market.
There is an inbuilt escrow where estimated trip costs are locked till ride completion. Another major benefit is that the service cannot be geo-restricted, since there is no company to hold responsible. The current working project is specifically catering to ride sharing but in the future this can be extended to form an ecosystem for logistics where drones or delivery companies can be used to deliver goods in exchange for the native token of the platform.

Challenges we ran into

We had to explore a way to lock tokens into an inbuilt escrow and the overall flow of operation of the smart contract. Apart from this implementing the maps and the properly managing the real time interaction system was a big challenge.

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