Blockchain Fills Void Created by Uber Lawsuits
Blockchain Fills Void Created by Uber Lawsuits
Russia, Taiwan, Chaina, Denmark, Italy, Hungary, Bulgaria, Finland, France Spain, Nethlands, some states in USA, and many more have all either banned Uber, have put it under suspension, or are in a battle against the company.
The reasons range from unfair competition, monopolies, classification of drivers as employees and their entitled benefits, different laws for taxi vs Uber drivers, what information can be obtained from the drivers, and the list goes on. Every one fits under one umbrella. The company of Uber should be regulated the same as everyone else.
A one size fits all approach has proven an inconsistent task when concurring the world.
Hundreds of lawsuits involving millions of people, all stem from its handlings around its relationship with employees and the competing market. No battles have been fought over the legality of one person driving another person for money. Everything has to do with the company.
So, what if there is no company? Is it possible to connect drivers with riders without this governance?
Blockchain technology is a distributed ledger, or way for different parties to agree on transaction history without ever meeting. Smart contracts, enabled by Ethereum, allow parties to set terms and conditions into code while conducting these transactions.
The terms for a simple ride share are as followed:
- Rider- I will pay you to pick me up here and drive me over there
- Driver- I agree to pick you up at that location and drop off your off at that location. I charge this amount for that trip
- Both parties agree on terms, smart contracts hold funds until trip has been completed, at which point they are released automatically.
In this situation, when computer code becomes the middle man, drivers and riders can connect without a company. There is no commission. There are no employees to pay or treat unfairly. No monopoly or unfair competition in the market. There are no lawsuits against code. 100% peer to peer ride sharing void of the lawsuits that plague Uber.
One startup is offering this solution. Cryder is a completely decentralized application built ontop of the Ethereum Blockchain. It is more accurate to think of “Cryder” as the name of the technology, it is not a company. They provide the ability to write “ride share” smart contracts for 0% commission or network fees. They don’t collect or store any private information.
Ride sharing will continue to function where Uber can’t.
Cryder will offer their own anonymous mobile application to use but have extended an invite for others to build their own apps on top of Cryder technology.