By combining bleeding-edge technologies like Bitcoin, smart-contracts and the self-driving car, ride-sharing companies such as Uber and Lyft could become obsolete as payment intermediaries.
Also read: Ethereum’s Blockchain ‘Makes Most Sense’ for ‘Gamified’ Ride-Sharing
Uber Testing Self-Driving Cars
Everyone’s excited about Uber’s latest pilot program to test self-driving vehicles in the city of Pittsburgh, Pennsylvania. But the dirty little secret is that both Uber and Lyft plan to replace human drivers as soon as possible to boost profits. A fleet of “robot cars” won’t complain or unionize for higher wages, which the company would pocket for itself.
Uber, whose rapid rise resulted in $1.5 billion USD revenue in 2015, currently takes a 20 percent cut on every ride. Thus, if the company’s “driver-partners” are eliminated (or at least made less relevant), the company could rake in almost