9M raised by Solana-based protocol to decentralize ridesharing According to the Decentralized Engineering Corporation, (DEC), the company behind TRIP, a Solana-based protocol that allows mobility-based applications, the ride-sharing industry is set for a paradigm shift. Web3 protocols will allow new companies and drivers to compete for rides using a matching algorithm. DEC states that riders and companies can join forces on the TRIP platform to compete in a common marketplace. It also gives customers and drivers a stake in the governance of the protocol, which rewards active participants. Teleport is the first service to go live on TRIP. It’s a decentralized ride-sharing app that will be launched by parent company DEC in December. Paul Bohm, CEO of DEC and Teleport cofounder, said that Web3 technology will compete with “closed platforms run corporate monopolies” to be replaced by decentralized protocols that can be open source, competitive and fair for all. Bohm said that additional funding would be used to “launch TRIP permanent in certain cities.” It will also assist the company with its decentralization milestone. TRIP riders can use a blockchain-based payment system to pay USD Coin ( USDC). Solana, fiat currencies, and USD Coin on Solana. Drivers will be able accept the stablecoin directly to their bank accounts, or have it deposited into a wallet. “By making ride-sharing a protocol, Teleport builds what Uber couldn’t build in 2010 and what Uber should be building now,” Ryan McKillen, an ex-Uber employee who was one of the investors that joined the seed round, said. Thursday Ventures was joined by 6th Man Ventures (6th Man Ventures), 305 Ventures, and Common Metal as additional investors. Similar: HTML3 is the solution for Uber’s problem regarding hackers According to Precedence Research, the market for ride-sharing will grow to $344.4 million by 2030. Statista data shows Uber is the most used ride-sharing app worldwide, with 93,000,000 people using it on a monthly basis.

The ride-sharing industry is poised for another paradigm shift, with Web3 protocols allowing new companies and...

It seems that every time one turns on the TV, something, somewhere, is going catastrophically wrong....

The United States regulators have been particularly concerned with the cryptocurrency industry in recent years. ...

Bitcoin ( ) could see further pain in the near-term, but the majority of the...

Vietnam, a Southeast Asian country, is now among the top countries that have adopted cryptocurrency....

Bitcoin ( BitcoinTC ) was higher in the Sept. 10 week-end close, as optimistic forecasts...

Since 2017, the interest in crypto has grown and has increased further since 2021 when...

NFTs can now serve as court documents… but they might also be unregistered securities, illegal loot...

According to a survey, Russians are not adopting cryptocurrency at a rapid pace. An overwhelming...

These programs are funded by a long-standing supporter of the university and will teach students...