Tokenized Ride-Sharing Could be the Future of Taxis

This amazing innovation presented by the Peaq blockchain would very well become the de-facto mode of transportation in the cities in the future. Built on top of the Polkadot blockchain, Peaq promises to revolutionize public transport. The decision to use Polkadot was influenced by its interoperability feature and capacity to incentivize Internet of Things (IoT) use cases.

Vienna is now quickly becoming a hotspot for Web3 innovation, Peaq aims to revolutionize the ridesharing industry with blockchain technology and tokenized assets. The idea is to create a network of 100 Teslas that are owned and operated by a decentralized autonomous organization (DAO), a self-governing entity that runs on smart contracts and tokens. This is incredible to see such innovation take place. This could also pave the way for how DAOs manage physical products and services.

The DAO will issue 10,000 tokens, each representing a 0.01% stake in the fleet of Teslas. Anyone can buy these tokens on a secondary market and become a co-owner of the network. Token holders will be able to vote on key…