+62 811 7000 723 admin@ppibatam.com

Uber blockchain-smolate has attracted $ 9 million to decentralize Rydshering

The developer of the Decentralized Engineering Corporation (Dec) software attracted $ 9 million during the sowing round of funding, reports The Block.

Foundation Capital and Road Capital’s venture companies jointly led the round. Among other investors: 6th Man Ventures, Common Metal, as well as a number of business angels, including Uber ex-managers Josh Sear and Ryan Macquillene.

Startup developed the TRIP protocol based on SOLANA blockchain. The first application on it was Teleport for the decentralization of Raidshering .

Trip has open source code. The key components of the service, such as dispatching, payment, data verification and dispute resolutions will be available to all network participants.

“There may be several operators and customer companies working on the creation of this market. […] This is the difference from Uber – a monopoly that no one can develop, change and introduce innovations, ”said the founder and CEO Dec Polom Bom.

According to him, the startup intends to attract many small players who want to challenge the monopolist.

“Why do drivers continue to invest in the Uber ecosystem? When they really could cooperate and create their own space in which they own what they do, ”Bom said.

By the end of the year, the startup will carry out Teleport piloting at Solana Breakpoint conferences in Lisbon and Art Basel in Miami.

Attracted financing will allow the DEC to expand the testing September 27, 2022 of the service, establish new partnerships and encourage the development of the project through hackathons.

In 2023, the startup set a goal to launch Teleport in one of the cities. The project also wants to achieve real decentralization when the protocol management moves from the team to several distributed entities.

“Including Raidstering in the protocol, Teleport does what we could not build in Uber in 2010, and what the company should create today. Passengers and drivers will move from centralized intermediaries to an open economy with agreed economic incentives, ”commented the former Product Manager in Uber McCillene.

Bom clarified for the publication that the startup attracted half the funds in the round even before the May collapse of the cryptorrhist. Financing was completely joint.

Recall that Morgan Stanley analysts noted that after the market correction, the number of venture transactions in the industry remained high.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.

Pin It on Pinterest

Share This