Raj Gokal, the co-founder of Solana, has shared his thoughts on the launch of Teleport, a decentralized rideshare service built on the Solana blockchain. Teleport, which aims to compete with traditional services like Uber, has begun operations in its first city with 857 registered drivers.
Solana Co-Founder on Teleport’s Launch
In a post on X, Gokal remarked, “Onchain Uber has been a popular idea in crypto for some time now. This one could actually work.” Teleport, developed by the Decentralized Engineering Corporation (DEC), uses a unique rideshare protocol known as Trip. This protocol is designed to be an open infrastructure that other vendors can use to create their own rideshare services.
Teleport’s mobile application is the first to leverage this system, potentially reshaping the rideshare industry. Unlike Uber, which takes 44% of ride fares, Teleport’s Trip protocol only takes 15%, offering a more equitable distribution of earnings.
This difference highlights the potential for a more cost-effective and driver-friendly alternative to traditional rideshare models. Uber’s high percentage cut is primarily due to substantial expenditures on recruiting riders and drivers, costs ultimately passed down to consumers. Teleport, however, uses on-chain rewards to incentivize existing users to recruit new ones, drastically reducing recruitment costs and enabling savings to be shared between riders and drivers.
According to the litepaper, this decentralized approach could lead to a more balanced and fair rideshare ecosystem. Riders can expect lower costs, while drivers can earn a significantly higher share of the fare. The goal is to foster a freer and fairer rideshare market that benefits all participants and opens up new opportunities for entrepreneurial ventures and innovation.
TRIP Design & Usage
The TRIP Rideshare Protocol relies on several key components to function smoothly:
Riders & Drivers: They connect to the protocol via various apps to offer or request rides.
Operators: These entities handle the regulatory and operational tasks necessary for providing rideshare services. They use Rideshare Server software and may act as Transportation Network Providers (TNPs), Transportation Network Companies (TNCs), or Fleet Managers, depending on local regulations.
TRIP Marketplace: Composed of blockchain smart contracts, this marketplace provides coordination and consensus services. It is governed by a Decentralized Autonomous Organization (DAO) to ensure neutrality and fairness without centralized control.
Balancers: These participants help address supply and demand imbalances by recruiting additional drivers and riders.
Verifiers: Responsible for checking driver licenses, conducting car inspections, performing background checks, and verifying phone numbers.
Auditors: They confirm the legal and operational readiness of both Verifiers and Operators.
When an area has at least one approved Operator and enough Verifiers, the TRIP protocol is considered operational in that region. This decentralized structure ensures that any capable and legally permitted entity can participate and fulfill roles within the system.
Future Implications
Raj Gokal’s positive reception of Teleport’s launch underscores the potential impact of this decentralized approach to ridesharing. As he stated, “This one could actually work,” suggesting that blockchain technology might redefine how rideshare services operate, ushering in a new era of decentralized, fair, and efficient transportation solutions.
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