Kuaidi founder plans to launch Blockchain based Ride Hailing App in China 10031
Chaitanya Thammaya
May 28, 2018 at 3:23 PM

Founder of Kuaidi Dache, Weixing Chen plans on launching a Blockchain-based ride hailing app. The company Kuaidi Dache, recently merged with Didi to become the leading ride hailing company in China.

Sources report that Chen’s aim in creating this app is to provide better safety and efficiency than the current operators. He wants to create a platform wherein it doesn’t just offer ride hailing, but also lifestyle services and deliveries among others. To launch this product, Chen is teaming up with Yang Jun, co-founder of Meituan, an on-demand local services firm.

At the ongoing National Big Data Expo being held at Guizhou City of southwest China, Yang Jun said,

"I’ve been asking myself what’s the value of the blockchain. My definition is to see whether and where people can actually use it."

He further added,

"With the use of blockchain, we can build a set of economic systems different from the previous ones…We can direct traffic from the Internet and add on different services to meet users’ needs."

Talking about the project at same event, Weixing Chen said,

"Ride hailing is the first time blockchain will be tested on a social application on mass scale."

Chen and Yang have both proved their entrepreneurial skills before with their respective companies. Chen is currently the founder of Funcity Inc. Yang’s company Meituan has recently merged with Dianping, a peer review site to create Meituan Dianping. The company has a value around US$30 billion.

Both of them have shown a keen interest in the Chinese Blockchain space and Chen is an active Blockchain investor. They are yet to reveal specific plans or any timetable related to delivering the project.

The Chinese Blockchain space is evolving with great speed. In a recent news published by BC Focus, a Chinese Blockchain Industrial Park is doling out millions in subsidies to start-ups. While cryptocurrency trading in China is restricted, China's Blockchain ambition is apparent in the sheer number of Blockchain patent applications filed.

Image via China Money Network

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