Blockchain Enabled Secured Carpooling Platform with Proof of Concept

Blockchain technology allows for decentralized consensus and, through smart contracts, might possibly expand the contractual area (Collins K, A running list of websites and apps that have banned, blocked, deleted, and otherwise dropped white supremacists.  https://qz.com/1055141/what-websites-andapps-have-banned-neo-nazis-and-whitesupremacists/ , last checked on, 12–07 (2018); Priya S, Srivastava G, Kumar S (2021) Blockchain integrated crowdfunding platform for enhanced secure transactions. In: 2021 4th International conference on recent developments in control, automation & power engineering (RDCAPE) (pp. 280–285). IEEE, (2021)). Meanwhile, achieving decentralized consensus necessitates the dissemination of knowledge, it modifies the environment of information. How decentralization influences the quality of consensus and how the fundamental characteristics of blockchain change the competitive environment in explored (Carsten P: Hackers attack 20 mln accounts on Alibaba’s Taobao shopping site. https://www.reuters.com/article/alibabacyberidUSL3N15J1P2 , last checked on 2018–12-10 (2016)). Information asymmetry can be decreased using smart contracts and promote consumer surplus and welfare by allowing more people to participate and compete but disclosing information during consensus creation could lead to more collusion. Blockchains, in general, maintain market equilibrium with a broader a variety of economic results. Ramifications of antitrust rules that target blockchain uses in explored in ( Coin Market Cap, Top 100 cryptocurrencies by market capitalization. URL: https://coinmarketcap.com/ , last checked on 2018–12-20,; Luu, L., Velner, Y., Teutsch, J., & Saxena, P.:{SmartPool}: Practical Decentralized Pooled Mining. In 26th USENIX Security Symposium (USENIX Security 17) 1409–1426, (2017)). Work targets to design a secured platform using proof of concept for smart transportation systems and examines the potential applications of blockchain technology in carpooling services. From the current centralized framework for a ridesharing service, the paper offers a decentralized blockchain-based architecture and implements it as a decentralized application supported smart contracts on the Ethereum blockchain. To reduce overall trip distance, the application uses encryption to identify riders who are seeking ridesharing. The use of smart contracts in applications as suggested in this study has the potential to alter the sharing economy due to the massive increase in the use of cryptocurrencies as safe and smart money for transactions. Employing proof of concept further strengthens the security aspect leaving little room for unauthorized access.