The US-based company will offer its services in building a P2P ride-sharing ecosystem powered by blockchain technology for a firm based out of Europe.
PALO ALTO, Calif., May 5, 2022 /PRNewswire-PRWeb/ -- Global blockchain development company HashCash Consultants will be offering its blockchain expertise to a European ride-sharing company. The venture marks HashCash's foray into the world of blockchain-powered shared ownership services.
The concept of ride-sharing is quickly gaining momentum across the world, particularly in Europe. Apart from the apparent advantages like lower pollution and consumption of finite resource consumption due to car-sharing rather than owning, the system has quite a few challenges, which can be addressed by blockchain technology.
HashCash CEO and noted blockchain pioneer Raj Chowdhury acknowledged the venture, stating, "The intrinsic characteristics of blockchain make it a highly versatile technology that facilitates real-time access while optimizing operations. The technology also boosts security, making it an ideal option for ride-sharing applications and supply chain management."
The setbacks in car-sharing apps that need resolution include a shortage of transparency, low data security or privacy mechanisms, and high operational costs due to centralized intermediaries. A blockchain architecture upholds decentralization, immutabilty, real-time access, and high-grade network security. All these combine to make blockchain an ideal combination against cybercriminals as well as eliminating middlemen while improving the system's operations. Further, users can also opt to pay in cryptocurrencies.
"Blockchain as technology guarantees quick efficient transactions, streamlining economic activities. Strengthened security features through smart contracts ensure drivers comply with the required legal standards in addition to accurate pricing models and transparency throughout the entire process," mentioned Chowdhury, who had previously spoken on blockchain's potential in carbon reduction.
Hashcash-designed products have been used in more than 26 nations across 5 continents. The company has been awarded top honors in blockchain development by a global business research firm and offers its expertise through both customized and white-label solutions for sectors such as BFSI, fintech, crypto, supply chain, gaming, and more. The firm recently collaborated with a Japanese automaker to integrate blockchain technology in autonomous vehicles, and a US company for metaverse development.
HashCash's upcoming venture comprising blockchain integration in the ride-sharing sector will help in the propagation of the benefits of blockchain incorporation across sectors other than BFSI and crypto. Businesses looking forward to joining in on the digital revolution can look forward to using the technology for leveraging the maximum possible growth.
- About HashCash:
HashCash is a global software company. HashCash Blockchain products enable enterprises to move assets and settle payments across borders in real-time for Remittances, Trade Finance, Payment Processing, and more. HashCash runs a US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash offers exchange and payment processor software solutions, ICO services, and customized use cases. HashCash propels advancement in technology through Blockchain1o1 programs and its investment arm, Satoshi Angels. HashCash offers solutions in AI, Big Data, and IoT through its platforms, products & services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for clients around the world.
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COLEEN F, Hashcash Digest, +14159662907, [email protected]
SOURCE Hashcash Digest
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