Last updated: 05 September 2021 01:11 PM
Lack of transparency in pricing
The ride prices vary from time to time. There will be some peak times where the cost of the ride will be high. Customers can't predict the average fare of a ride. The driver and customer have no idea of how the service provider rates a ride.
Extra costs from by the intermediaries between a driver and a passenger.
In traditional ride-sharing apps, the company assigns a driver for a journey. Providers impose a 20-30% commission on the total fare for this process. These increases travel costs for the customer. Also, this affects the revenue of the driver.
Lack of privacy and data security mechanisms
We often end up seeing similar prices on all the ride-sharing apps and wonder why this is happening. Our data is not secure on this platform. They can easily share the pricing between similar providers so they will get maximum profit. Also, there are a lot of fake profiles which misleads the customers.
Transparent pricing model
In our solution, the driver can add the cost per km for a ride. So the pricing will be fixed and won't change. The customer has the option to choose the rider. Also, the customer can choose a driver depending on parameters like cost, number of seats, etc.
Fast and secure transactions
Transaction to the blockchain is fast and secure. There are no intermediaries. So the driver will get maximum profit while the customer only needs to pay a lower price.
Privacy and data security
All the data are stored securely on the blockchain. No external authority could know the cost and other information about a ride. Once a ride is accepted, an escrow account connected to the driver's wallet securely stores the customer's token. It ensures that the driver can only withdraw the tokens once he completes the ride.