peaq, the Web3 network powering the Economy of Things, announces the expansion of its ecosystem. bloXmove, a developer of a shared mobility blockchain platform, joins in to launch its decentralized application and NFTicket components on peaq’s layer-1 blockchain network. As its first project on peaq, it will develop and launch a decentralized ride-hailing application on the network, with a joint hackathon event supported with community initiatives and grants from peaq Foundation slated for March.
Ride-hailing services such as Uber and Gett have become staples of the mobility as a service industry, with only the former reporting almost two billion rides in its Q3 report for 2022. While useful in their own right, these platforms are not without their flaws, sparking controversies by their use of intricate price-setting algorithms that amp up rates during emergencies and charging drivers – low paid workers – an outsized commission fee. Leveraging drivers’ and riders’ private data, Uber is also no stranger to controversies around privacy.
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“Blockchain and other Web3 technologies put the mobility service ecosystems on a fairer footing,” says Sophia Rödiger, CEO at bloXmove. “Together with peaq, we are shifting the undisputed control from the hands of Big Tech intermediaries and giving the ownership and profit back to the drivers and users. The power and mobility network is very machine-oriented, relying on assets like cars, two-wheelers, charging and battery-swapping stations, and runs on multitudes of microtransactions. peaq offers a vast toolset for machine-focused decentralized applications, and we are looking forward to leveraging its full potential. peaq’s strategic orientation perfectly contributes to bloXmove’s focus on mobility in emerging markets like Africa or Latin America.”
bloXmove is joining the peaq ecosystem to create a more transparent, fair, and privacy-focused mobility paradigm. bloXmove will leverage peaq’s layer-1 blockchain network with an array of machine-oriented functions, including Self-Sovereign Machine Identities and Role-Based Access Control, to build a Web3 rendition of a ride-hailing service running on smart contracts and crypto. It will also be able to make use of peaq’s wider industry compliance through participation in top consortia groups including MOBI and Gaia-X 4FM moveID.
The decentralized application, which will start off as a scalable proof-of-concept with the eventual goal of advancing to a production-grade version, will be designed to give users maximum privacy by giving them ownership over their data. It will leverage bloXmove’s NFTicket protocol, part of its layer-2 kit that will unlock new tools for other teams building on peaq, and vast experience from building a ride-hailing dApp in Nigeria. The project also incorporates peaq’s Machine DeFi and borderless machine subsidy mechanisms to empower communities in emerging markets. By leveraging smart contracts on a public blockchain, it will give all stakeholders a clear view of its inner workings, including fair pricing mechanisms. The dApp will also remove the middleman fee, allowing the drivers to earn more while charging the customers less.
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In March, bloXmove and peaq will host a hackathon event to support the project. peaq will support the hackathon with community engagement initiatives and grants. Further down the road, bloXmove will explore deploying more dApps on peaq, leveraging the network to build various mobility-oriented tools and jointly entering further emerging markets.
“Web3 offers a better alternative to the traditional centralized architecture that mobility as a service apps rely on,” says Till Wendler, co-founder of peaq. “By bringing together bloXmove’s expertise in the mobility space and peaq’s vast machine-focused toolset, we are creating a foundation for a new paradigm for the industry — and putting it on a pathway to a healthier and more sustainable business formula. This initiative perfectly complements the projects already underway in the ecosystem and opens an array of exciting new opportunities.”
bloXmove is the second layer-2 to join the peaq network in January, following Nexera Protocol, a layer-2 MetaNFT (mNFT) standard developed by AllianceBlock. Nexera’s mNFTs work as mutable and composable data containers and will work as a versatile and highly-malleable tool for such use cases as Know Your Customer procedures and hierarchical machine ownership.
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