Challenging Uber and Lyft by eliminating middleman

Teleport, a new web3 startup leveraging the Solana blockchain, is challenging traditional ridesharing giants like Uber and Lyft by eliminating the centralized middleman. Operating as an open-source platform since May, Teleport has attracted over 13,000 riders across four major states.

Key advantages include cost savings for riders and higher earnings for drivers:

• Riders pay approximately 21% less per trip ($10.36 vs. $13.16 on average).
• Drivers earn about 19% more per trip ($8.80 vs. $7.36 on average).
• Drivers retain 85% of the fare compared to ~56% on traditional platforms.

This model is enabled by Solana's ability to transparently coordinate rides, payments, and logistics. Teleport exemplifies Decentralized Physical Infrastructure Networks (DePINs), an emerging trend in blockchain applications.

Helius, a platform supporting blockchain-based startups, offers tools and guidance for companies innovating in sectors like DePIN or transitioning to Solana from other blockchains.

Source: Linkedin