BlockWheels - A Peer to Peer Ridesharing Network

Abstract

Blockchain is a technology that is essentially defined as a decentralized storage system for transactions, or ledger of all transactions or digital events that have been shared among the participating groups. A ridesharing system helps riders to reach a particular destination driven by the owner of the ride. There are many existing ridesharing services available in the market today. But most of these services are centralized and hosted by a third party which gives them the authority to monitor features like fare calculation, user data, etc. Privacy and trust are major concerns in such a system. The purpose of our paper is to make a decentralized application for ride-sharing where all transactions, fare calculation, matching and information is stored on a Distributed Ledger. The ledger will be accessible to all the peers in the network. This will match users with rides in a decentralized way without relying on third parties of any centralized network which makes the system transparent and reliable. The data on blockchain is immutable. Hence, this technology is used to store rides and user information to maintain security and ensure user privacy.