Boosting Ridesharing Efficiency Through Blockchain: GreenRide Application Case Study

Abstract

Ridesharing or carpooling has a valuable potential in large cities that suffer from traffic jams and congestion especially in places with poor public transportation infrastructure and fuel trip expenses are too high. By increasing the level of vehicles occupancy; colleagues who share the same workplace can smoothly hop into each other’s vehicles to reach their destination. In this research paper we utilize the decentralization nature of the blockchain to build a smart ridesharing application – GreenRide - through incentivizing its users via token rewards. Our work investigates boosting ridesharing efficiency through utilizing the blockchain merits of decentralization, trustless, and scalability. We also emphasize on the application’s environmental impacts where it promotes carbon emission reduction, and enhances air quality. Moreover, the research paper identifies GreenRide’s economic and social impacts as per it helps road users to share the costly fuel expenses and to create friendships between like-minded people respectively. The research findings unlock the tremendous potential of the blockchain technology in other business-related fields not only limited to finance and cryptocurrencies.