{"id":88804,"date":"2024-02-07T00:00:00","date_gmt":"2024-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/new-zero-commission-blockchain-ride-hailing-app-comes-to-dubai\/"},"modified":"2024-02-07T00:00:00","modified_gmt":"2024-02-07T00:00:00","slug":"new-zero-commission-blockchain-ride-hailing-app-comes-to-dubai","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/07\/new-zero-commission-blockchain-ride-hailing-app-comes-to-dubai\/","title":{"rendered":"New zero-commission blockchain ride-hailing app comes to Dubai"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- RTA licenses new blockchain ride-hailing service:<\/strong> Dubai\u2019s <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/\" style=\"\" rel=\"noopener\">Roads and Transport<\/a><a target=\"_blank\" href=\"https:\/\/www.rta.ae\/\" style=\"\" rel=\"noopener\">Authority (RTA)<\/a> has given an operating license to Web3 Blockchain taxi platform <a target=\"_blank\" href=\"https:\/\/www.drife.io\/\" style=\"\" rel=\"noopener\">Drife<\/a>, a decentralized ride-hailing service that employs blockchain technology for its pricing system and operates with a zero-commission structure, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dubais-road-and-transport-authority-licenses-drife-the-first-web3-taxi-platform-in-the-uae-pnppwf9v\" style=\"\" rel=\"noopener\">press release<\/a>. The company already operates in India, with more than 350k users and 30k drivers in 2023. It also tapped former Careem COO Johan Persson as an advisor in November 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it works: <\/strong>Unlike Uber and Careem, drivers on Drife pay a subscription fee to use the platform but get to keep all their earnings. Riders can also select drivers based on preferences like ratings, car type, and distance, through an auction-based model. The company is currently awaiting approval from Dubai\u2019s Virtual Asset Regulatory Authority for its DRF token, which will serve as the platform's native currency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More autonomous transport in Abu Dhabi? <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.itc.gov.ae\/\" style=\"\" rel=\"noopener\">Integrated Transport Centre (ITC)<\/a> inked an agreement with Swedish electric and autonomous transport company <a target=\"_blank\" href=\"https:\/\/einride.tech\/\" style=\"\" rel=\"noopener\">Einride AB<\/a> to streamline the transport, planning, and tracking of heavy goods in the emirate, says the ITC on <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ITCAbuDhabi\/posts\/pfbid02UGLPGCTG3JXXRgCzAxD1omyJs8BUUR9JnKqvQQaAZ3b3atLw8WQWf8JgbBnepyHdl\" style=\"\" rel=\"noopener\">Facebook<\/a>. The agreement, which closed on the sidelines of Innovation Week, will see electric energy and automation integrated in domestic shipping, with no further details disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CBUAE strikes more ins. agents off its record<\/strong>: The Central Bank of the UAE (CBUAE) revokedthe license of UAE-based ins. agent Smart and Secure yesterday, striking its name from its register, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b1j0sck-cbuae-revokes-licence-and-registration-smart-and\" style=\"\" rel=\"noopener\">Wam<\/a>. The CBUAE cited weak compliance framework and failure to fulfill regulatory requirements as reasons for its license suspension.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the Ins. blacklist: <\/strong>CBUAE revoked the license of First Ins. Brokers <a target=\"_blank\" href=\"https:\/\/www.centralbank.ae\/en\/news-and-publications\/news-and-insights\/press-release\/cbuae-cancels-the-licence-of-first-insurance-brokers-company\/\" style=\"\" rel=\"noopener\">earlier this month<\/a>, and Cogent last <a target=\"_blank\" href=\"https:\/\/www.centralbank.ae\/en\/news-and-publications\/news-and-insights\/press-release\/cbuae-revokes-the-licence-and-registration-of-cogent-insurance-broker\/\" style=\"\" rel=\"noopener\">December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/\" style=\"\" rel=\"noopener\">Abu Dhabi National Oil Company (Adnoc)<\/a><\/strong><strong> Drilling plans to up its operational fleet <\/strong><strong>to 142 rigs in 2024<\/strong>,targeting a production capacity of 5 mn barrels a day, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b1j0sfe-adnoc-drilling-looks-ahead-2024-with-confidence\" style=\"\" rel=\"noopener\">Wam<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.burtville.com\/\" style=\"\" rel=\"noopener\">Burtville<\/a><\/strong><strong> Real Estate began construction on its residential project Ville 11 in Abu <\/strong><strong>Dhabi\u2019s Masdar City<\/strong>, after securing a registration certificate from Abu Dhabi\u2019s municipalities and transport department, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/burtville-launches-the-ville-11-in-masdar-city-mosunojr\" style=\"\" rel=\"noopener\">press release<\/a>. The residential project features 111 residential units and is targeting completion by 3Q 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE, Cambodia to set up a trade zone:<\/strong> The UAE and Cambodia are establishing a trade zone as part of their trade agreement, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/475.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Dubai Customs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates<\/strong><strong> will reinstate daily flights from Dubai to Adelaide, Australia, <\/strong>starting from 28 October, according to a <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-to-make-highly-anticipated-return-to-adelaide-in-october-2024\/\" style=\"\" rel=\"noopener\">statement<\/a> from the airline. Emirates had previously halted flights to the Australian city due to pandemic travel restrictions. Returning to its pre-pandemic capacity, the airline also plans to reinstate flights to Perth in western Australia by 1 December, offering a total of 77 flights transporting up to 68k passengers from Australia weekly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The app operates on a zero-commission structure and allows riders to select their cars in an auction-based model<\/p>\n","protected":false},"author":1,"featured_media":88805,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[57,47,306,157,1444,143,7,807,806,1367],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-adnoc","tag-also-on-our-radar","tag-aviation","tag-central-bank-of-the-uae","tag-emirates","tag-energy","tag-enterpriseam-uae","tag-ins","tag-integrated-transport-centre","tag-transport","wpautop","entry"],"acf":{"mongo_id":"60730c20-92e8-4a51-8772-6c172a679536","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/529.jpg","photo_position":"above","homepage_title":"","full_issue_title":"New zero-commission blockchain ride-hailing app comes to Dubai","related_issue":[88778],"teaser":"The app operates on a zero-commission structure and allows riders to select their cars in an auction-based model","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.885668d1-6ee8-4ce0-9e59-fc7e9108accf.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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