Former Meituan and Kuaidi founders to launch blockchain ride-hailing project

Two of the most renowned Chinese tech figures mull over the idea of a a blockchain-enabled ride-hailing platform.

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In an effort to ride on the blockchain heat, two of the most renowned Chinese tech figures, former founders of Kuaidi and Meituan, revealed that they were brooding the idea of a blockchain-enabled ride-hailing platform, dubbed Dache Lian, meaning ride-hailing chain.

CHEN Weixing, the former founder of Kuaidi, said in a WeChat moment post that the idea was to create to a platform shared by the “workers” and “consumers”, rather than one controlled by the capitalists.

CHEN founded Kuaidi Dache in 2012. Kuaidi was one of most potent and formidable rival to Didi back then.

In the post CHEN also explained that the platform would be substituting blockchain-based burning model for traditional balance sheet-based revenue model, and replacing V/L rates valuation model with a P/E rates one. CHEN hailed the idea as a social experiment of Nobel Prize-like significance.

A screenshot of Chen Weixin’s WeChat moment post. English translation done by KrASIA.

Editor: Ben Jiang