Optimizing in Eliminating Monopolistic Activities in the World Transportation Industry

At present transportation is not only provided by the government, but has also been provided by private companies such as taxis, uber, go-jek, go-car and several other private companies. The presence of private companies that provide transportation services does make it easy for the community, because this transportation can be obtained only by ordering via a smartphone and users can wait for transportation according to their location without having to visit the base of the transportation. Although it makes it easy for users and creates extensive employment opportunities, but did you know that there are currently a lot of companies that conduct a monopoly and cause a decrease in the quality of service and drivers who get wages below the average. This monopolistic activity can be seen from the high rates paid by passengers to the driver, but in the end the driver must receive a high discount from the company. This problem certainly must be overcome immediately by giving birth to advanced technology in order to provide justice to passengers and drivers by eliminating intermediaries such as companies.

One technology that can be run without intermediaries such as companies and governments is Blockchain technology. This was realized by the founders of RideNode by establishing a Blockchain-based platform as an alternative to the world’s transportation industry. Where this platform will issue cryptocurrency tokens so that it can be used by the public to make payment transactions directly to the drivers. Direct transactions carried out by both parties will cut the costs of intermediaries, so that passengers can make payments with a 0% commission and drivers can make a profit without having to share the profits with the central company. Integrating Blockchain technology into transportation services will certainly increase people’s interest in using public and private transportation. So that this will also reduce the congestion that often occurs in big cities.

The presence of a private transportation company that combines its services with a variety of applications cannot be denied, indeed has a good impact on the development of the transportation industry. Where many people choose to use private transportation services because they want to avoid congestion that occurs in big cities. But the centralized system implemented by the private company proved ineffective for passengers and drivers. Where this system will generate profits in large numbers for the company and detrimental to the driver and passengers. Not only that, several other problems that often occur in passengers and drivers are safety issues that cannot be solved until now. This can be proven by the number of drivers or passengers who have experienced criminalization even to the point of death committed by irresponsible persons. In addition the drivers are also not equipped with health and public safety insurance. Though this insurance is needed by the drivers because accidents that occur on the highway are totally unpredictable.

But now the world community does not need to worry anymore about the ineffective system of private transportation companies. Because RideNode ended the monopoly activities carried out by the private company by integrating Blockchain technology into transportation services. Where every user will be equipped with distributed Leded technology (TLD) which serves to maintain the benefits between the drivers and customers without a third party. Where the integration of this technology will provide a higher quality of service by emphasizing the security system between the driver and passenger. So that with this security the passengers and drivers will avoid various kinds of criminalization carried out by unscrupulous persons.

Later this platform will operate through the Bayride Mobile application, which application will support the use of cryptocurrency tokens as a means of payment for transportation services used by the public. By using this application the drivers will not be charged any commission, as charged by the previous private transportation company. Not only that, through this application the passengers can make payments directly to the drivers, later the crypto assets paid by the passengers will be sent directly to the driver’s personal digital wallet. This system is certainly very different from the system that applies to the conventional transportation industry, this is because the founders want to give justice to the passengers and drivers without taking any advantage. Therefore for those of you who want to free the world system from a monopoly system, then you can switch to using services that have been integrated with Blockchain technology such as RideNode.

More information please click the link below

Website: https://ridenode.io/

Telegram: https://t.me/RideNodeGroup

Whitepaper: https://www.ridenode.io/wp-content/uploads/2019/11/RideToken-WhitePaper-Version3.0.pdf

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