DRIFE announced the appointment of new Chief Scientist Siddharth Bhatia, responsible for leading research and innovation for the company. As the first decentralized ride-hailing platform, DRIFE’s vision is to develop a mobility blockchain. Following its successful launch, the project is set towards a $1 billion valuation in the near future.
Siddhart was a student at the National University of Singapore. He researched real-time fraud detection in a cybersecurity setting, his findings were applied by several companies. The ACM Heidelberg Laureate Forum recognized him as a Young Researcher. He worked with Google Research, Amazon, and Microsoft Research, therefore he acquired deep ‘big tech’ experience.
Siddharth Bhatia stated – “I am inspired by DRIFE’s passion to create a more equitable environment for both drivers and passengers, and am excited to play a part in taking DRIFE through its next phase of growth.”
CTO and co-founder, Mudit Marda comments – “Hailing from academia, the technical skills Siddharth brings to the team in regard to his experience in machine learning, fraud detection, and distributed systems is unrivaled. At DRIFE, we want to bring onboard like-minded individuals who share the vision of generating a fairer and more decentralized ride-hailing platform driven by the latest technology. Siddharth is a fantastic talent and we’re delighted to welcome him to the team.”
DRIFE is a taxi platform that brings fairness and transparency into the industry. It allows drivers to take home 100% of fares and passengers to pay using cryptocurrency. DRIFE was the first to tokenize the ride-hailing economy, creating a decentralized platform, through which drivers can connect with riders, cutting out the middleman and reducing additional costs.
DRIFE was launched on 6 August 2021 and was highly successful since. This was possible thanks to a strong pre-launch marketing effort. The project is on its way towards achieving the ‘unicorn status’ of a $1 billion market valuation, once the token reaches a 25x. This is especially rare for blockchain-based projects.
DRIFE currently runs in Bangalore, India, but the company is expanding its operations to Brazil, France, and Dubai, with plans for the EU, US, and Asia.