- DRIFE launches in Dubai, offering fair pay to drivers using blockchain technology.
- The platform’s transparent and decentralized system ensures drivers receive a larger share of the fare.
- DRIFE aims to challenge competitors by promoting equitable pay and leveraging Web3 tech.
One of the world’s emerging crypto hubs, Dubai has recently approved the entrance of blockchain-based ride platform DRIFE. This development marks one of the largest use cases for Web3 technology in the region.
The application is going live with around 1000 drivers available – and aims to revolutionize the ride-hailing industry by offering transparent, secure, and cost-effective services.
This development comes just before the pre-approval issuance of the Dirham-pegged stablecoin – and sheds light on the United Arab Emirates plan to advance blockchain technology in the region.
DRIFE Offers Drivers Fair Pay via Blockchain Tech
One of the most appealing features of the new Uber competitor is that one of its objectives is to offer its drivers fairer compensation with the use of blockchain technology.
Since the popularization of modern transportation apps like Uber – a harsh debate has broiled over how such platforms offer unfair pay to drivers. An analysis from UC Berkeley highlights how most drivers on gig platforms earn less than minimum wage when considering gas and maintenance expenses.
All across the globe, this debate has led governments to impose regulatory frameworks for such apps. Most famously, the European Union voted to classify drivers and other gig-platform workers as employees in 2019.
This led to DRIFE developing a similar carpool-based platform that – via blockchain tech – is capable of offering fairer pay to its drivers. By reducing the number of intermediaries and leveraging transparency from blockchain DRIFE ensures that drivers receive a larger share of the fare. This decentralized approach promotes a more equitable payment system, benefiting both drivers and riders.
Moving forward in Dubai – the company plans on adopting the UAE Stablecoin as its payment option – as well as expanding to other regions like Europe.
