China’s Largest Ride Hailing Founder, Reveals Plans to Build a Blockchain Uber

Chen Weixing, who helped shape China’s $30 billion ride hailing market, reveals plans to build a blockchain Uber equivalent. In 2014, Weixing fought off competition from Alibaba and in a joint merger, they later acquired Uber’s China operation. Today the company accounts for 90% of trips made in China, a ride hailing market that is already worth more than the rest of the world combined. Weixing has said that his decentralised platform will be developed to empower “labourers” and “consumers” describing it as a “great, Nobel Prize-level social experiment” adding that it would not be controlled by “capitalists”.

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