DRIFE, a Web3 Mobility infrastructure provider, and the first ride-hailing decentralized application to operate in India and the UAE, has announced its integration with Sui, a Layer 1 smart contract platform and Blockchain.
DRIFE with this move, aims to offer a seamless, simplified onboarding process for ride hailing users and ecosystem partners. The migration of DRIFE onto Sui Blockchain which was created by Mysten Labs, is a step in expanding the decentralized mobility infrastructure sector.
Sui streamlines the process for developers to launch their projects on the Sui platform as it eliminates technical barriers.
DRIFE Taxi 3.0 service is set to disrupt the Taxi 2.0 such as UBER, Lyft, and others. These companies pioneered the use of mobile apps to connect passengers and drivers conveniently and affordably, yet their centralization has slowly eroded the benefits, and earnings of drivers due to high commission rates, while controlling the price customers pay.
The company is entering the market offering an innovative, transparent, fair solution that empowers both drivers and riders. The DRIFE platform offers a zero-commission fee structure which allows drivers to earn more income and pass on the benefits to riders in the form of savings. Sui is the optimal blockchain platform for DRIFE as it offers low network fees, reduced transaction costs, and enhanced overall affordability for users.
Firdosh Sheikh, Founder of DRIFE states, “Given we are pioneering a decentralized ride-hailing application, a concept unprecedented, we required a strategic partner and a blockchain infrastructure that aligned seamlessly with our vision. Sui is the ideal choice due to its scalability, security and cost-effectiveness.”
DRIFE will utilize various features in SUI’s architecture including its ZKlogin which enables frictionless user interaction without necessitating intricate blockchain knowledge. Sheikh adds, “This aligns perfectly with our goal of creating a seamless user experience and lowering entry barriers. Moreover, SUI’s scalability and speed are paramount, ensuring DRIFE can accommodate rapid growth and deliver real-time services efficiently.”
zkLogin, makes Web3 login as simple as signing in with familiar web credentials such as Google or Twitch. Sui continues to advance zkLogin, adding new providers and additional features such as multi-sig capability and more.
“Sui was created to provide a decentralized platform to support exactly the kind of innovative decentralized solution that DRIFE offers in its mobility infrastructure services,” said Dr. Greg Siourounis, Managing Director of the Sui Foundation. “It is extremely gratifying for the Sui community to see DRIFE leveraging zkLogin and other parts of Sui’s technology to address real challenges people face in their everyday lives.”
By leveraging SUI’s technology, DRIFE is poised to deliver an unparalleled ride-hailing experience that is not only efficient and user-friendly but also cost-effective and scalable.
In 2023 DRIFE achieved pivotal successes with licenses in Karnataka, India. At the end of 2023, DRIFE had over 350,000 users and 30,000+ drivers. In February 2024, DRIFE expanded its operations to the UAE. DRIFE was granted an e-hailing license through the partnership with AASA Passenger Mobility Services LLC subsidiary of AASA Group, an affiliate of EII Capital (Formerly known as EMAAR Industries and Investments), DRIFE’s franchise partner in Dubai.
The Layer 1 Blockchain Sui witnessed a substantial surge in inflows in February 2024, catapulting it ahead of industry rivals such as Cardano, Near, and Aptos regarding total value locked (TVL).
Founded by former Meta (META) employees, Sui has swiftly risen to prominence, now boasting $593 million in capital locked across various decentralized finance (DeFi) protocols. DefiLlama’s latest data indicates that this figure has more than doubled since the beginning of the year, marking a significant milestone for the burgeoning blockchain.
