Move over Uber – Blockchain Ridesharing Startup Arcade City Plans Driver Ownership – 100 per cent of the Company by 2020

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New driver-owned ride-sharing startup Arcade City launched its mobile app this month to the Apple and Android app stores. Drivers have given more than 1,000 rides to customers in 100+ cities across 27 states, and Australia.

Arcade City has begun integrating its service with Blockchain technology using a decentralized application platform called Ethereum, similar to Bitcoin but more suitable for governing peer-to-peer interactions.

Arcade City will use Ethereum to issue ‘crypto-equity’ to drivers, allowing them to own up to 100% of the company by 2020.

Launched in the aftermath of dramatic rate cuts by Uber and Lyft that decimated driver take-home pay up to 40% overnight with no warning, Arcade City quickly signed up more than 3,000 drivers, most of them current or former drivers for the ‘big two’ ride-sharers.

Arcade City lets riders review driver profiles in advance and choose the driver they prefer. Drivers are free to set their own rates and offer additional services like deliveries or roadside assistance. Approximately half of current drivers give rides on a ‘pay what you think is fair’ basis.

“The Achilles’ heel of Uber and Lyft is their centralized management of pricing,” said Arcade City founderChristopher David, a former Uber driver. “By decentralizing that decision to the level of the driver and rider, Arcade City frees the driver to be an entrepreneur, and empowers the rider with control over their entire experience. Both drivers and riders are loving it so far.”

“Uber and Lyft treat drivers terribly, like numbers in an algorithm,” said David. “To them drivers are just a temporary nuisance, to be replaced with self-driving cars at the earliest opportunity. They even hide that fact from the drivers. But drivers are beginning to wake up to reality – and actively search for an alternative.”

Arcade City drivers have so far given rides in 27 states and counting: Arizona, Arkansas, California,Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Michigan, Minnesota, New Mexico, North Carolina, New Hampshire, New Jersey, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington state, and Washington, D.C.

Drivers are also active in Australia, with Mexico, Canada and Sweden launching in the spring.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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