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.
- Distilled Identity and Emerge Announce Technology Partnership to Solve Global Identity Crisis for Refugees - January 22, 2019
- Satellite Project SpaceChain Concludes the First Qtum Blockchain Transaction in Space - January 22, 2019
- AAX Digital Asset Exchange to be Powered by London Stock Exchange Group Technology - January 22, 2019
- Amsterdam’s Blockport Launches Full Featured Trading Platform - January 22, 2019
- Swarm Offers Free Issuance of Security Tokens - January 21, 2019
- London’s Blockchain Conference; Blockchain Expo Global Exhibition announces expert speakers - January 21, 2019
- Currency.com Launches Tokenised Securities Trading Platform - January 21, 2019
- Katallassos Launches a Standard Framework for Decentralised Derivatives - January 11, 2019
- Dutch Crypto Trading Marketplace Cryptohopper at CES 2019 - January 8, 2019
- Interview with Ammbr – A Blockchain-Enabled Mesh Network Bringing High Speed Internet to Emerging Economies - January 8, 2019
- Zion Market Research Report Explains: Global Blockchain In Energy Market likely to grow to USD 11,899 Million By 2024 - December 27, 2018
- Blythe Masters Resigns as CEO of Digital Asset - December 18, 2018
- Overstock’s Medici Ventures Uses Ravencoin Blockchain for Equity Purchase in Chainstone Labs – Completes $3.6 Million Securities Token Transfer - December 18, 2018
- Despite Market Downturn – eToro Survey Reveals Strong Interest in Cryptoasset Education - December 18, 2018
- BlockIMMO brings Blockchain Technology Platform to Tokenize Fractional Real Estate Investment - December 17, 2018
- Algorand Appoints Dual Ph.D. Rock Star Pablo Azar as Chief Economist - December 17, 2018
- Dascoin – Anatomy of Multilevel Marketing Crypto Scam – Coinmarketcap Zero - December 17, 2018
- Dutch Blockchain Company Tymlez Group Starts Trading on Australian Stock Exchange (ASX) - December 13, 2018
- DNAtix Releases Live Demo of its Blockchain based Genetic Infrastructure Platform - December 11, 2018
- IOHK Launches Secure Smart Contracts Technology for Cardano blockchain - December 11, 2018