Kuaidi Founder To Launch Blockchain-Based Ride Sharing App In China
The founder of Chinese ride-sharing app Kuaidi Dache has announced plans to build a blockchain-based equivalent of Uber.
According to China Money Network, Chen Weixing made the announcement on Sunday following the 2018 Guiyand BigData Expo. The new platform will be developed in partnership with the co-founder of Meituan, Yang Jun. Meituan is one of the largest discount apps in China.
“Ridehailing is the first time blockchain will be tested on a social application on mass scale,” Chen stated in a WeChat post.
Kuaidi Dache, which is backed by venture capital and internet giants including Tencent and Alibaba, took off in China in 2012. At the time, Kuaidi Dache rivaled another major Chinese ride-sharing app, Didi Chuxing. The two companies merged in 2014 to become the largest ride hailing app in China under the name Didi Chuxing. The Firm later pushed Uber out of China via an acquisition.
Chen is no stranger to blockchain and digital currencies. According to a February report, Chen has invested in at least a dozen cryptocurrency-based projects including Houbi and Binance.