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CEO Funcity and former founder of Chinese ride-hailing application Kuaidi Dache, Chen Weixing has uncovered plans to assemble a blockchain-based ride-sharing comparable to Uber.
Declared on Sunday after the 2018 Guiyang BigData Expo at a post-event function that, the new platform will be produced in association with Yang Jun, co-founder of Meituan, one of the biggest group discount applications in China, as indicated by a WeChat post from Chen.
As indicated by China Money Network, the entrepreneur stated:
“Ride hailing is the first time blockchain will be tested on a social application on mass scale.”
In spite of the fact that he didn’t uncover which blockchain platform would be utilized to build up the application or how he expects to counter blockchain’s versatility issues, Chen’s new task is worthy of remark given his experience in developing applications around the ride-hailing use case.
Kuaidi Dache, established by Chen in 2012 took off immediately in China to match another ride hailing application called Didi Chuxing.
Sponsored by venture capital and internet giants like Tencent and Alibaba, the two entered an unpleasant business war, financing costs until the point that they merged in 2014 to end up the biggest ride hailing application in China, keeping the name Didi Chuxing. The firm later drove Uber out of China by means of an acquisition.
Moreover, Chen’s intention to move into the blockchain space isn’t completely surprising, since he has been a standout amongst the most vocal genius blockchain investors in China.
As per a report from February of this current year, Chen has invested into no less than twelve cryptocurrency projects, including some of the major trading platforms, for example, Binance and Huobi.
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