Drife is a decentralized ride-hailing platform which will connect drivers and riders through a mobile application. The platform deals with a whole new economic model that can incentivize all the value creators fairly and curb the existent intermediaries.

Ride-hailing platform works on a very broke business model of monetizing and prioritizing profit over its drivers, riders and people at large. Some major issues they face include sky-rocketing commissions that lead to unsustainable driver incomes, price manipulation and unjustified price surges, lack of loyalty and sustained incentivisation, and other centralization centric problems.

The nature of the problem we’re trying to solve requires the underlying blockchain infrastructure to be extremely scalable and fast. A ride-hailing platform is required to clock a high transaction throughput and bandwidth so as to ensure that the platform users are not faced with any latency while availing services. The platform also requires geo-location and geospatial distance data from the external world within the walled garden of a blockchain for the allocation of rides and computation of ride fare prices.

The Æternity blockchain is an Erlang-based scalable smart contract platform that has been redesigned at the protocol level to address some of the most fundamental challenges native to preceding blockchains.

The following are some major technical advantages provided by æternity that stand out for us at Drife as against the other blockchain protocols existing currently in the market.

- Oracles are fundamental to any fully functional decentralized platform that wants to fetch data from the external world. Æternity acknowledges this requirement and integrates oracle services as a part of æternity’s core blockchain protocol. Drife piggybacks on this oracle service integrated at layer 1 to save on efforts and cost of integrating a third-party oracle like Oraclize or ChainLink.

- Æternity runs on the super cool Bitcoin-NG Consensus Algorithm which is the evolved version of the Bitcoin protocol. It still uses Nakamoto consensus but separates leader election and block production by introducing two kinds of blocks called key and micro blocks. Splitting up leader election and block production allows a leader to produce micro blocks in rapid succession, increasing the transaction throughput significantly.

- Unlimited scaling is possible with lightweight and trustless off-chain state channels that are built into æternity’s first layer itself. The state-channels provide support for smart contracts and enable inexpensive private transactions through them.

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https://medium.com/@drife_official/drife-on-%C3%A6ternity-aa26ed2aaf13

After careful consideration, and a wish to protect all ELT owners, Lendo has decided to migrate its online platform from lendo.io to lendo.sg.

Singapore, as you may know, is one of the world’s safest financial centers thanks to its strict financial regulatory rules. The graphics below, published in the Financial Occultist in August 2020, show that Singapore stands out as a financial safe haven, and this is just one of the things that influenced the Lendo team’s decision.

Singapore: the best country for crypto

Furthermore, while Singapore is also recognised as the world’s “smartest city” and the city with “best investment potential,” it is also the third biggest market in the world for ICO issuance, behind the United States and Switzerland.

Singapore’s appeal is a combination of its crypto-friendliness and its overall economic environment. The Monetary Authority of Singapore (MAS) does not fully regulate cryptocurrencies, but they have issued guidance on ICO-related activities since mid-2017. This is meant to protect investors against specific risks (for example, MAS imposes Anti-Money Laundering (AML) rules for intermediaries that are offering crypto services). In other words, MAS is taking up the role of a guardian, allowing ICOs to be launched but also intervening if the activity of a certain ICO seems suspicious.

Increased protection for Lendo members

By moving to lendo.sg, Lendo members now have an increased level of security and protection. If you are an ELT owner, there is no action you need to take,
and you will be able to sign into the new domain using your existing username and password.

...

https://medium.com/@lendoplatformltd/lendo-moves-to-singapore-safe-haven-8c040ba5951b