Traditional car ownership is declining as more people than ever are choosing to hire a car from private individuals or to car share. This trend is set to continue rising due to factors such as government regulation, demographic changes and cost.
In a rapidly-decentralising world there is a strong motivation to upset incumbent, centralised services and to create user-oriented alternatives.
By leveraging the blockchain to create a trustless, decentralised rental platform, HireGo aims to overcome the shortcomings of existing solutions such as;
High transaction fees; existing centralised platforms charge up to 35%
Centralised ownership and ‘pooling’ of data becomes target for data theft
Monopolisation of user data and reviews
Our goal is to speed up the transition to decentralised car hire and car sharing whilst enabling a seamless user experience.
Trust
Using blockchain based user identity solutions provides assurances that users of the platform are genuine and trustworthy. Reviews and comments made by users will also be stored on the blockchain, creating an indisputable record of a user’s conduct.
Low fees
HireGo aims to create a truly decentralised application. HireGo fees will only cover direct costs associated with running of the application.
Smart Contracts
The use of smart contracts, contractual code running on the Ethereum network, removes the necessity for a middleman and allows users to conduct trustless rental transactions
IoT Ready
When cars become IoT ready future versions of the HireGo contract will allow physical access to the vehicles to be governed by ownership of the requisite tokens