At HireGo we are building the world’s first decentralised peer to peer private car hire application built on blockchain technology.
We wanted to create a platform which would benefit from decentralisation and take full advantage of blockchain technology.
Renting out your car to local people is becoming an increasingly popular way of earning extra income and existing centralised applications such as Turo boast 2 million users worldwide.
These applications have several disadvantages such as high transaction fees and centralised ownership and pooling of date, which becomes a target for hackers.
Monopolising of valuable user data and reviews is another disadvantage of centralised systems. For example, a user may have built a solid reputation over years but this review history is owned by the centralised organisation and could potentially be revoked at any time.
Decentralisation using smart contracts linked to the blockchain overcomes these flaws and gives control back to the end user and eliminates the need for a expensive intermediary.
Safety is another advantage of a decentralised blockchain based application. Blockchain based identity management tools handle user identification and HireGo’s user review system ensures that reviews are genuine as they are linked to user wallets and stored on the blockchain.
Car ownership has hit its peak and is actually declining in the developed world. In 2017 the same amount of cars were sold in America and Europe as in 1960. Car sharing has emerged as a popular solution in cities such as Paris, London and New York.
Built on the framework of the HireGo car rental app is the HireGo car sharing app to be released in Q3 2019. Users will be able to share cars from ‘businesses’ or even community groups and either pay per mile or sign up to a monthly or yearly subscription.
Integrating the IoT with Blockchain technology is a ‘natural fit’ as both technologies are distributed based. This open up exciting possibilities such as being able to unlock a car by providing proof of token ownership.
We are excited about the possibilities of the HireGo platform. With the inevitable shift to decentralised systems we aim to disrupt the $90billion car hire industry.
For more information, visit : http://hirego.io/