Solana Blockchain Powers Teleport’s Innovative Rideshare Launch

The post Solana Blockchain Powers Teleport’s Innovative Rideshare Launch appeared first on Coinpedia Fintech News

A rideshare service called Teleport, built on the Solana blockchain, has launched with 857 drivers in its genesis city. As a result, Solana co-founder Raj Gokal praised this initiative, noting its potential for success where others have failed. The predicted success is attributed to the usage of the Trip protocol, which offers a more equitable fare distribution by taking just 15%, compared to Uber’s 44%. Additionally, this decentralized model aims to reduce recruitment costs through on-chain rewards, promising lower costs for riders and higher earnings for drivers. Overall, Gokal’s support highlights the transformative potential of blockchain technology in reshaping the rideshare industry.