Web3 Ride-Hailing App DRIFE to Integrate with Layer 1 Sui Blockchain

CryptoNews.com

2024-04-03 02:28:24

Sujha Sundararajan

Last updated:

April 3, 2024 06:28 EDT | 1 min read

Decentralized taxi app DRIFE has integrated Layer 1 Sui blockchain, to offer seamless and simplified onboarding process for ride-hailing users.

The blockchain-based mobility platform operates in India and the UAE providing fair and transparent ride-hailing experience. DRIFE’s key benefit is its ability to eliminate intermediaries, ensuring direct transactions between riders and drivers.

By migrating to Sui blockchain, DRIFE will utilize its features including ZKlogin, which enables frictionless user interaction. Per a company release, Sui offers a fair solution for drivers that suffer due to centralization and high commission rates.

DRIFE has chosen Sui due to the blockchain’s scalability, security and cost-effectiveness, says Firdosh Sheikh, founder of DRIFE.

“This aligns perfectly with our goal of creating a seamless user experience and lowering entry barriers” Sheikh added. “Moreover, SUI’s scalability and speed are paramount, ensuring DRIFE can accommodate rapid growth and deliver real-time services efficiently.”

In February, the Sui network recorded a staggering spike in transactions and TVL soaring to $593 million in transactions. Sui’s momentum moved past other networks like Aptos and Cardano in terms of TVL.

Decentralized Ride-Hailing are the New Era of Transportation

Sheikh believes that blockchain-based ride-hailing platforms could disrupt and revolutionize the industry. This is achieved through the immutability of transactions on blockchain, which potentially helps to restore trust between drivers and riders.

“As these technologies continue to evolve, they will likely reshape the entire landscape, offering users and drivers a more efficient, equitable, and sustainable mobility solution,” she said in an interview with Bitcoin.com.

“As blockchain-based solutions continue to evolve, they may reshape the industry in ways that are both innovative and sustainable.”

Further, she touched on the use of blockchain in ride-hailing businesses like DRIFE, contributing to their profitability and sustainability. Blockchain could reduce operational costs, leverage tokenization and incentive mechanisms to reward users for active participation, and empower stakeholders, Sheikh added.

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