Cryptocurrencies Rise Popularity Among Uber Technologies Inc (NYSE: UBER) Drivers

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Nowadays, there are a lot more ‘Blockchain Literate’ drivers you may discover than ever before. This evolution is because the crypto payment for riders with the digital economy is fast-growing in society, and the decentralization of Uber Technologies Inc (NYSE: UBER) could become the norm. Blockchain technology currently interests all kinds of workers, tech experts, and Fintech specialists, and its developing popularity among Uber drivers. Uber drivers started accepting crypto assets at least six years ago. However, today witnessing a QR code and a business card with a crypto wallet with drivers in the car has become very common.

Dara Khosrowshahi’s Statement

Uber CEO Dara Khosrowshahi said that, like all kinds of local currency, they would look at crypto-asset or Bitcoins in terms of the transaction. That is good for business and suitable for their riders and their eaters. Moreover, during an interview, a driver said he implied his public policy studies with Uber work. He utilizes the time to invest and always stays with a crypto friends circle to gain up-to-date information.

Another veteran Uber driver feels economic liberty is the advantage of crypto industry growth. He says, using the opportunities and financial freedom makes it easy for him to achieve his goals and happiness. On the other hand, monetary, the confluence of technology, and political policy create instability globally, so he started investing in Crypto. Anyway, there’ll always be something superior to that ever invented in this world. 

Will Uber Run on Blockchain?

Drife is a riding platform just like Uber, but it’s a decentralized system that accepts payments through Cryptocurrency and is transparent with their decentralized mobility system. As a result, Drife may soon become a bigger competitor and alternative for Uber. But just like any other industry, it too has some disadvantages like lack of coordination and control, and the operations are very costly.

If Uber transforms itself into a decentralized platform, what will happen? A young driver said that it’d be the most significant advantage to save costs for the company and the commissions paid to drivers if that happens. However, experts also state it’s best to change to decentralization. 

  • Many drivers are investing in Crypto and making some extra cash. 
  • If Uber transforms to decentralization, the rides will cost low, drivers will have a good working environment, and wages will increase.

Crypto is developing and attracting many professionals. Sooner or later, ride-hailing companies like Uber will also accept and adopt this technology.

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