RATE Group | Blockchain-based Ride Hailing App Coming From Kuaidi Founder
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Blockchain-based Ride Hailing App Coming From Kuaidi Founder

29 May Blockchain-based Ride Hailing App Coming From Kuaidi Founder

Posted at 18:20h in Bitcoin News by

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This latest venture melds two of tech’s favorite ideas: the sharing economy, and the basis of Bitcoin—the blockchain.

The founder of Chinese ride-hailing firm Kuaidi Dache, now a part of the “Uber of China” Didi Chuxing, announced plans to create a blockchain-based ride hailing app Sunday.

In recent months, interest in blockchain, the technology underlying Bitcoin and other cryptocurrencies, has soared. At its core, blockchain is a database that can continuously add on new information.

Its allure though, lies in its decentralization. Rather than keeping this record with one party, the blockchain is a record, updating in real time, kept often by several parties. In doing so, the database becomes effectively unchangeable, and can also cut out the middle man in some applications.

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