Hail A Ride, Rideshare, And the Fundamentals of Blockchain Intervention

Rideshare needs a redefinition, and blockchaincan make a difference.

The Need for a Blockchain-Driven Ride Share

Anybody with a smartphone and one of these company’s application can easily communicate with logged drivers to order for rides that correspond to the routes of operation of that particular driver. 

It is general knowledge that ridesharing has gradually crept into our lives and culture and become integrated into our daily movement and way of operation. 

The application network serves as a platform to develop a sense of responsibility and trust between the drivers and the passengers.

There are now companies that have risen above order and serve as the frontier for this industry.  Companies like Uber and Lyft have erupted in popularity and financial alike.

The Multi-billion Dollars Business

Typically, companies like Uber and Lyft has become household names and risen to the status of top brands and companies to be reckoned with around the world.  

They are the top players in the space of ridesharing, with Lyft being valued at $15.1 billion and Uber valued at about $72 billion.

Those are large chunks of market share and these platforms have weathered the storms of criticism until now.

Although opposition to ridesharing services has come under the light of skepticism in functionality and structure, more needs to be done.

Uber, for example, being banned in major cities around the world like Barcelona, Vancouver, Frankfurt, and some other cities. 

The major antagonists to ride share service companies have been Public transport services and Taxi companies, as ridesharing takes away a large chunk of their consumer market. 

Although right now, is not an only taxi and public transport companies that they have to be cautious about because they are on a route to being out of the market by new innovative companies using Blockchain technology to revolutionize the space. 

These big companies hence face a giant hurdle in terms of Blockchain technology and how it can seriously hurt their business model.

What Does Blockchain Do?

Blockchain has become quite popular in today’s world probably because of bitcoin and it’s outrageous pricing in 2017, but let’s talk about the blockchain framework itself.

 So, blockchain offers a decentralized, open, and distributed ledger that records transactions between two entities inaccessible, retrievable and permanent fashion.

 Each of this growing transaction is linked to one another using cryptography.  These transactions are extensively secure and usually do not require the third party and hence are more cost-effective.

They could be much cheaper than traditional ridesharing platforms and therein lies the punch that could potentially knock out the big players like Uber and Lyft.

How Blockchain can Influence Ride Share

Talk about a disruption much like the Internet did in the late 1990s or the airplane by the Wright brothers in 1903. 

Blockchain is here to stay and is currently reshaping and redefining the ways people view and understand companies & industries today. 

The ridesharing landscape is not left out on the list of industries being disrupted.  Of course, the only major hold back for now is worldwide adoption of Blockchain and cryptocurrencies.

These companies, Uber, Lyft, Wings & Sidecar operates a centralized system.  They are actually called Aggregators because what they do is, they serve as intermediaries between the drivers and potential customers.

The customers or passengers order for a ride on the company’s application on their smartphones with specific directions and the company supplies a list of drivers with different ratings for you to select from.  

Then you choose the driver and pay through the same application on your smartphone.

The company then receives the money, take a percentage and pay the driver. Hence these companies serve as a centralized site for the linking and completion of the transaction.  

They usually have the software, routers, and servers for reception and distribution of these orders.

What the blockchain framework can do in this space is to eliminate the middlemen or intermediaries, in this case, being Uber, Lyft, or Wingz. Blockchain creates a decentralized ledger that stores transactions securely in blocks.

And each block having a time stamp of the previous one so that they are linked, and one cannot be accessed without going through the other.  Hence, this provides a fortified and impenetrable network.

Due to the fact that the data is not stored in one place but dispersed through a network of computers, there is no aggregator or centralized unit needed.

Providers of driving services can simply provide a profile of the routes they cover ratings by previous customers, charge, and connect straight to passengers on the blockchain platform 

The passenger can request a service, then the Blockchain platform could filter according to the categories and produce a list from which he can choose from. 

Although there are still some touches to be added to this model before it becomes functional. But it’s a highly better alternative to the traditional. 

The transaction or payment end can be done through the peer-to-peer payment technology already built into the system.

Regulation of Ride Share Companies

These rides share service companies have come under heavy criticism to be regulated by a designated government body.

Reason being that there has been reports of cases where drivers have assaulted and been violent toward passengers, there has also been much talk over the inspection  of Uber vehicles to ensure the safety of users of the platform and insurance coverage of the vehicle.

Also, there is the fee that the companies deduct from the payment before paying the drivers.

All these can be highly minimalized with blockchain as there would be little or no charges as the transaction would occur directly between the drivers and passengers, and there would be more stringent measures to monitor insurance covers and the general safety of Users.

Conclusion

It is certain that the ridesharing space is going to disrupt as the full adoption of Blockchain services begin to play out in the coming decades and traditional rideshare service companies need to take note of this or else they would be out of business by this force.

Blockchain-driven rideshare service is going to be a plus to the services being offered and hopefully, will be the change that people want to see.

Blockchain Innovations, Affiliate Marketing, and The Changing Face of Digital Marketing

Blockchain is here, and it is changing the preset notions on how to conduct an online business. How is your business changing today? Read more..

The scalability, transparency and efficiency of the Blockchain is a huge boost for digital product marketing.

To take advantage of this edge, businesses need to look at how best the solutions currently available can give a leap to realization of organization goals, cost reduction and profitability.


There are over three billion people in the digital world who daily access their emails, websites, and search online for clues, play online games and carry out a variety of other activities.

The growing number of people with Internet access and connectivity has created a huge market for people who have one, two or more online digital products to offer to the rest of the world.


There is an online digital product for virtually every field of human endeavor, and this is an affirmation that many fast-thinking people are already cutting their slice of this new frontier.

An online digital product is not inferior to its physical alternative except that it can be accessed via a mobile phone or portable device and you can easily access it wherever there is Internet presence.


The Blockchain and Fast Moving Online Digital Product Scenarios

The following examples provide a gateway to success with an online digital product;


Digital Books and Blockchain

EBooks are probably the commonest form of digital products as a result of the early introduction of books in digital format.

Digital books are now widespread and can be accessed by such devices as the Kindle, mobile phones, and other portable devices.

The digital book can be produced by using widely known platform owners like Kindle, Lulu, and Kobo amongst others.

You can decide to ignore these platforms and self-publish through a free medium like Adobe PDF and sell digital downloads through your website or affiliate website of your preference.

The ease of payment and download access to digital books makes it an attractive option for many people with internet access.

Your digital books can become your online business as you make efforts to market and sell them through the various outlets available.

The Blockchain has an edge for publishers here as it can remove the need for middle men and help the publisher reach consumers directly. Usage of cryptocurrencies will also remove the burden of remittance difficulties.


Online Courses and Blockchain

Today’s world is a knowledge-driven marketplace with multitudes in search of one thing or the other to meet their needs.

Learning is recognized as a process that lasts throughout a lifetime and the foresight to create and locate your audience or recipients will unlock the opportunity for an online digital product business along this line.

You do not need to have an accreditation or institutional recognition for the course you can comfortably offer online.

It is only important that you have a grip on your turf and ensure that your materials are well- researched, packaged and presented.

You will be amazed at the reach of your online digital product across the globe when you use a trusted platform to market your specialty.

Known websites like Udemy, iVersity, Fedora amongst others; rake in millions in sales yearly for courses they offer.

The Blockchain can help course developers earn more if tokens are used for access and remittance for each course developed.


The Affiliate Scheme and Blockchain

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The affiliate scheme is perhaps the most proven form of an online digital product as it has survived the early years of the Internet bubble to the present day.

By the way, it is the platform for many MLM (Multi-Level Marketing) products.


You can build your affiliate scheme around a fast-moving product, service or any item that is beneficial to people and is marketable.

Last Lines

An online digital product business is the fastest and logistics-nightmare free business you can ever be involved in.

Any business with a website and a payment gateway enabled for PayPal, Credit Cards or Bitcoin, with an effective marketing plan for a beneficial product, is destined for success.