• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Blockchain

A Blockchain-Based Ride Hailing App is Planning to Launch in China

Rick Delafont by Rick Delafont
3 years ago
in Blockchain
Reading Time: 2min read
Ride Hailing
Advertisement
Nexo Logo
Listen to Article

Two Chinese entrepreneurs are teaming up to launch a blockchain-based ride hailing application. Weixing Chen and Yang Jun hope to create a platform that will offer various life-style type services. These will be include (but not be limited to) ride hailing and deliveries.

Could Blockchain Revolutionise Ride Hailing in China?

Weixing Chen addressed the new venture at the China International Big Data Industry Expo 2018. He was interviewed for local business publication China Money Network. He stated:

“Ride hailing is the first time blockchain will be tested on a social application on mass scale.”

His new partner, Yang Jun, also spoke about the implications and benefits of blockchain technology more generally at the same event:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“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.”

The China International Big Data Industry Expo 2018 opened yesterday. It’s being held in southwest China in the city of Guizhou. It purports to be the world’s first conference entirely on the subject of ‘big data.’

Unfortunately, neither of the two currently associated with the blockchain-based ride hail scheme disclosed any form of timeline for the project. Nor did they offer any more concrete details for now.

That said the pair certainly have the necessary credentials to take the proposal to the big time. Chen is the founder of Kuaidi Dache, an existing car service application. The company successfully merged with DiDi Dache, another ride sharing platform, back in 2016. This merger created the largest ride hailing application in China. The outcome was DiDi Chuxing, a company that is now valued at nearly US$60 billion. In addition, Chen is the founder of Funcity Inc., as well as being an active investor in blockchain startups.

Meanwhile, Yang is the co-founder of a Chinese firm called Meituan. Meituan provide on demand services and merged with Dianping, a peer review website, in 2016. This created Meituan Dianping, a company currently valued at US$30 billion. Yang is also the founder of Skyline Invest – themselves an active participant in the emerging Chinese blockchain industry.

The move by the two Chinese entrepreneurs isn’t the first time blockchain technology has been associated with the ride hailing/sharing industry. Back in 2016, we reported about the development of La’Zooz and their efforts to decentralise the existing business model of services like Uber and Lyft. In addition, in 2017, Chasyr announced that they’d be accepting cryptocurrency payments to help distribute value more fairly between drivers, riders, and the company themselves.

Featured image from Shutterstock.
Tags: blockchainblockchain adoptionRide hailing
TweetShare
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Related Posts

ethereum gas fees uniswap uni

Uniswap UNI Token FOMO Brings Ethereum Fees To Nearly $1M An Hour

4 months ago
bitcoin btcusd

How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet

4 months ago
bitcoin whale

“Intense” Bitcoin Whale Exchange Flow Could Be Behind Weekend Crash

4 months ago
ethereum defi crypto altcoin ethusd

DeFi Effect: Ethereum Network Grows 25% In 2020, Most Addresses Profitable

4 months ago
Blockchain Battle With China Ensues With New US Congress Bill Proposal

Blockchain Battle With China Ensues With New US Congress Bill Proposal

4 months ago
bitcoin justice crime irs us goverment

Justice Department AG Claims US Gov, IRS Has Tools To Track Bitcoin Users

5 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

The Foundation for Economic Education Announces Two Major Gifts from Bitcoin.com Founder Roger Ver

January 19, 2021

AC Milan to Join Sports Crypto Movement With Launch of $ACM Fan Token

January 19, 2021

Institutional-grade Crypto Exchange AAX Reports Record Fiat-Crypto Purchases in 2021

January 19, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.