Smart contract development and blockchain technology application

Abstract

Blockchain is an emerging technology that is widely discussed between people in technology fields. It has the potential to disrupt every single industry that uses a centralized server and database. Blockchain solves all the problems associated with current centralized system architecture as it uses software algorithms to record transactions and interactions with reliability, security, and anonymity.

This project explores the possibility of using blockchain technology for a ride sharing platform for users in Singapore. The decentralized application proposed in this project uses Ethereum as the blockchain protocol due to its large support from the global community and it is the largest ecosystem in blockchain and cryptocurrency. A smart contract is developed on Ethereum blockchain network for the registration of users and the recording of transactions. Furthermore, a rating system is also implemented in this decentralized application, which promotes transparency within the industry.

The desired outcome of this project is to create a fully functional decentralized application for users in Singapore to use while still being in control of how their data is used and that all profits will go directly to the drivers without the need of an external centralized third-party middleman. The application will also leverage the advantages of a decentralized system, which includes reliability and security of the users’ data.