Ridesharing DApps - A Study on Peer-to-Peer Ridesharing on Ethereum

Ridesharing is an effective method to resolve traffic congestion and also reduce pollution due to excess vehicles on-road. However, the centralized nature of the current ridesharing systems is not ideal for the user. The lack of transparency in the system as well as risk of data security is a big demerit for such a system. To keep the third-party involvement minimal, a trustless, decentralized peer-to-peer ridesharing DApp is being proposed using a private Ethereum blockchain. Credibility of ride sharing systems can be improved by implementing blockchain technology. Blockchains are decentralized databases where every single piece of information is stored on systems everywhere which can be retrieved and traced freely by anyone on the network. The system will no longer be trust-based but simply based on concrete proof that exists which is built into the ledger. In a blockchain-based system, a rider will anonymously post a ride request. A driver can accept the request and provide their id details and quote. The rider can choose if the transaction is fair and accept the quote and begin his ride. Various other concepts such as time-locked deposit and proof-of-elapsed distance have been introduced to ensure further security for driver and rider. The primary goal of such a system is to develop a reliable and transparent ride sharing system where users do not have to worry about their privacy.