Decentralized peer to peer ride hailing app with blockchain

• Main Author: Chong, Geline Ker Ying
• Other Authors: Chua Hock Chuan
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Electrical and electronic engineering::Computer hardware, software and systems
• Online Access: https://hdl.handle.net/10356/166923
• Institution: Nanyang Technological University

At present, ride-hailing applications are typically centralized in nature, but this poses a major challenge. In centralized applications, there is a company or organization responsible for maintaining smooth operations and addressing any issues that arise. However, this requires a considerable amount of manpower and electricity, leading to higher costs for the company. To offset these expenses, centralized applications often charge high fees to users, resulting in lower earnings for drivers and increased costs for riders. Furthermore, the centralized nature of these applications creates a single point of failure, which can cause service disruptions for customers. This is particularly problematic for ride-hailing applications, which rely heavily on reliable service to maintain customer satisfaction. As such, there is a growing need for alternative models that can ensure efficient and cost-effective service while minimizing the risk of failure. The objective of this project is to create a ride-hailing mobile application that incorporates blockchain technology to improve the current ride-hailing systems. The application's main advantage is the removal of superfluous service charges common in traditional ride-hailing platforms. With the implementation of smart contracts, the need for third-party entities is eliminated, allowing for cheaper rides and greater profits for riders and drivers respectively. Furthermore, by incorporating blockchain technology, the application can provide a more secure, transparent, and decentralized data storage system. This enhancement improves users' privacy and minimizes the risk of data breaches, including the risk of a single point of failure. I have completed the development of my decentralized ride-hailing application, which facilitates the seamless matching of riders and drivers, with the added benefit of ensuring secure fund transfers after ride completion and for claiming rewards.