Paul Bohm, Founder of Teleport, discusses the potential impact of implementing an open protocol for ridesharing. They explore the importance of coordination systems, breaking the ridesharing monopolies, and the future of ridesharing. They also highlight why Solana was chosen as the technical solution for Teleport.
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Quick takeaways
Teleport is a rideshare app built on a decentralized protocol, offering a more competitive and innovative ridesharing market.
Teleport aims to overcome the monopoly in the rideshare industry by providing a better user experience, financial incentives, and fast, low-cost transactions.
Teleport plans to become a major player in the global rideshare market, capturing up to 50% market share by promoting decentralization and competition.
Deep dives
Teleport: A Decentralized Rideshare Protocol
Teleport is a rideshare app built on a decentralized protocol that aims to disrupt the current rideshare market monopolies. Unlike traditional rideshare platforms, Teleport operates on an open network with decentralized operators, allowing for more competition and innovation. The app accepts credit card payments and ensures user safety and reliability. Drivers earn higher pay compared to incumbents, and riders benefit from lower prices due to increased competition. Teleport also leverages blockchain technology to reward early adopters with tokens based on their contributions to the network. The future vision of Teleport is to create a global rideshare network, offering a decentralized and economically efficient alternative to traditional rideshare companies.
Challenges and Innovations
Teleport faces the challenge of overcoming the current monopoly in the rideshare market. However, by building a decentralized protocol that offers a better user experience and financial incentives, Teleport aims to attract drivers and riders to its platform. The app's technology allows for fast and low-cost transactions, making it possible to pay with credit cards or stablecoin. Additionally, Teleport plans to expand its services to include more stablecoins and support multiple jurisdictions. By creating an open-source ecosystem and encouraging competition among operators, Teleport seeks to drive innovation and address the limitations of traditional rideshare models.
Go-to-market Strategy
Teleport is currently in an open beta phase, available for download on iOS. Users can take virtual rides and learn about the platform's mechanics. The app is invite-gated, and early adopters can invite others to join. Teleport plans to roll out its services in markets where it has subsidiary ride-share companies or collaborates with local operators. The goal is to create a network effect by recruiting enough drivers and riders in each market to reach the critical mass required for the network to operate efficiently. Teleport aims to support the organic growth of its network and engage with regulators to ensure compliance and a seamless transition to its decentralized rideshare protocol.
The Future of Ridesharing with Teleport
In the next five to ten years, Teleport envisions becoming a significant player in the global rideshare market, aiming to capture up to 50% of the market share. By offering superior user experience, competitive pricing, and efficient operations, Teleport aims to compete with existing rideshare companies while promoting decentralization and reward mechanisms for drivers and early adopters. Teleport's long-term goal is the widespread adoption of its protocol, enabling a global network of decentralized rideshare operators and establishing a new norm where decentralization and competition define the ridesharing industry.
Choosing Solana as the Foundation
Teleport selected Solana as its chosen blockchain due to its high throughput, low transaction costs, and ability to handle the expected volume of rideshare transactions. Solana offers the necessary technological foundation for Teleport's vision, allowing for fast, scalable, and cost-effective transactions. The simplicity and composition capabilities of Solana make it an ideal choice for Teleport's development. By building on Solana, Teleport leverages the existing ecosystem and takes advantage of the network's key features, propelling the project towards its mission of revolutionizing the rideshare industry on a global scale.
Paul Bohm is the Founder of Teleport
The Download Link: https://app.teleport.xyz/rider/refer/...
Paul's Twitter: https://twitter.com/paulbohm
Teleport's Twitter: https://twitter.com/TeleportXYZ
Teleport's Website: https://www.teleport.xyz/
Logan Jastremski's Twitter: @LoganJastremski
Frictionless's Twitter: @_Frictionless_
Frictionless's Website: https://frictionless.fund/
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Timecodes:
0:00 - Intro
4:20 - The Meme of decentralized Uber & Why it is possible now
14:15 - The coordination problem and bootstrapping supply and demand
22:30 - Why early blockchains were not sufficient
30:00 - Breaking the Economics of Ridesharing
38:45 - Teleport breaking the Ridesharing monopolies
48:55 - Go to Market and going live!
56:45 - How to drive for Teleport?
58:50 - What does the future of Ridesharing look like?
1:02:00 - Why Solana?
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