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Decentralized Ride-sharing

The concept of bringing blockchain and web3 to literally everything is cool, but not necessary. I agree that there are certain things that can be improved by this technology, but not everything needs to run on a blockchain. Especially when that blockchain that its running on is Solana lol. I'll start off by saying - I'm not a fan of Solana at all really. It's a centralized database that has more problems than any supposed blockchain I've ever seen. Despite the massive amounts of halts to the chain as a whole and the fact that at one point it wasn't even recording time accurately... Venture capital continues to roll in and probably won't ever stop.

Anyway - there's a company building a "decentralized" ride-sharing ecosystem on Solana. TRIP protocol, built by Decentralized Engineering Cooperation, is an ecosystem that enables companies and riders to compete in a shared marketplace. Of course, the real incentive here is that riders and companies will earn governance tokens. The first project to use the TRIP ecosystem, called Teleport, announced a $9m seed funding round today. Obviously the idea here is to compete with corporate-owned centralized applications like UBER and Lyft.

The plan is to establish TRIP permanently in certain cities and try to tap into the ever-expanding ride-sharing industry. Users of the ecosystem will be able to make payments using stablecoins like USDC as well as fiat currencies via Apple Pay. How this is any different than just paying from your phone like normal, I don't really know. But hey, they're using the blockchain and technically allowing crypto payments. Drivers will eb able to accept USDC or have fund swapped for USDC and deposited to their bank accounts. I guess the real benefit comes in the form of not having everything managed by a central party.

Who knows how decentralized this will actually be though? There's not a ton of information available about it or how it will work so we just have to make our own assumptions. Just thinking about it kinda makes me scratch my head. Making something that people rely so heavily on solely blockchain based is not a great idea in my opinion. Especially Solana, of all chains. I get that it's fast, cheap, and sounds cool but it's trash. IF it randomly goes offline, and people are not able to get rides then they just have to opt for the centralized option anyway.

I guess I'm really just struggling to understand the benefit of doing this all on chain. Sounds kinda cash-grabby but that's just my take.

I'm all for the decentralization of things, but it's hard when the blockchain you base your platform on is iffy plus has fees. They could have built this thing on Hive and really been in a much better position with decentralization. Not only that, but Hive is fast as hell and has no fees. Much easier to do millions of transactions on a chain like this than one with fees. Look, you might love Solana and think this is great. I encourage you to please elaborate int the comments on how this benefits anyone but the actual drivers. Why Solana though if you're gunna do it?

I'll stop ranting now, I desperately need sleep anyway. I support decentralization and blockchain for a lot of things. It just has to make sense.

Let me know your thoughts.

Article written by: @l337m45732 AKA 0xNifty.nft

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