A Canadian startup called Eva is planning to use the EOS blockchain to bring a new type of ride-sharing to Canada—and beyond. The startup, which has been operating in Montreal since September, is currently moving to Toronto and has plans to expand internationally in the future.
The creators are hoping the blockchain will help Eva meet its goals of localizing ride-sharing and popularizing the crypto sharing economy.
Eva is a reaction to Uber, which has been faced with conflict by regulators in Quebec. Last year, Uber threatened to leave Quebec if regulators did not remove the need for drivers to undergo training. Since then, Uber has been locked into a tentative pilot project in the region.
The creators of Eva explain that Uber’s difficulties are facilitating the “localization” of ride-sharing by allowing smaller companies to enter the market. By contrast, major companies like Uber allegedly take value away from local markets and invest it in other places. According to Eva’s creators:
“These companies capture around a quarter of market share versus standard taxis, but the money is invested in capitalization in other countries. They simply aggregate the economy and delocalize it.”
EOS Can Help
The EOS blockchain will be instrumental in powering Eva’s ride-sharing app, and it will guarantee that local drivers get almost all of their fare. Smart contracts will ensure that fees are split fairly between several parties: drivers will receive 85% of each payment, and the rest will go to the people and groups that keep the system running. (By comparison, Uber drivers get only 75% of their fare.)
Eva chose to use EOS as its underlying network due to the platform’s “scalability and sustainability.” EOS has made a name for itself in this regard: it strives to be a faster alternative to Ethereum, which is frequently bogged down by high transaction volumes.
Suggested Reading : Learn more about EOS in our beginner’s guide.
The Sharing Economy
Cryptocurrency and blockchain technology have long been projected to become the basis of a new sharing economy. The blockchain can provide an economic system that does not rely on a central authority in the way that many peer-based marketplaces currently do. Ride-sharing is just one application in this category: energy distribution and AirBnB-style home rentals are two other types of sharing that the blockchain is facilitating.
Source: thebitcoinnews.com Read more here!