Manila, December 5, 2024 – In a groundbreaking collaboration, leading cryptocurrency exchange Coins.ph, global ride-hailing platform inDrive, and decentralized mapping network Hivemapper are launching the Philippines' first blockchain-powered fleet that will allow InDrive drivers to earn extra rewards by mapping the roads of Metro Manila.
“At Coins.ph, we want to empower Filipinos to earn through the opportunities that crypto and web3 provide,” said Wei Zhou, CEO of Coins.ph. “With this partnership, we’re transforming how physical infrastructure is built and monetized. This exemplifies the power of blockchain to generate real-world impact and create new earning opportunities for everyday Filipinos,” he added.
The project leverages an innovative technology called DePIN (Decentralized Physical Infrastructure Networks), integrating blockchain with traditional ride-hailing services. Through Hivemapper’s cutting-edge mapping devices, installed in participating vehicles, drivers can contribute to building an up-to-date and decentralized global map.
“Hivemapper is the fastest growing mapping company in history for a reason. People love the idea of helping build a decentralized global map where the people that build the map, also participate in the economics of the map. Over 2 billion people and hundreds of thousands of businesses use maps each and every day. It’s a huge market and we are just getting started” said Ariel Seidman, CEO and Co-Founder of Hivemapper.
In cities where infrastructure and navigation challenges are prevalent, this decentralized mapping initiative provides an invaluable resource. By offering real-time, hyper-accurate mapping data, it supports urban planning, traffic management, and location-based services, benefiting the broader community.
In addition to earning income from ride-hailing, participating drivers will also earn $HONEY tokens for their contributions. These tokens can be securely stored on Coins.ph allowing riders to seamlessly manage their rewards.
“At inDrive, our mission has always been to create opportunities that empower individuals and communities. This partnership with Coins.ph and Hivemapper marks a transformative step forward for the e-hailing industry in the Philippines. By integrating blockchain technology with ride-hailing, we’re not only providing drivers with an additional rewards stream but also contributing to building vital infrastructure that benefits everyone. This collaboration is a testament to the potential of innovation to drive progress and create lasting impact,” said Sofia Guinto, Head of Business, Philippines, at inDrive.
The launch of this blockchain-powered fleet marks the beginning of a new era where decentralized technology contributes to the evolution of transportation and infrastructure in the Philippines. By combining innovative blockchain-enabled use cases with the existing infrastructure of ride-hailing services, the partnership between Coins.ph, inDrive and Hivemapper not only empowers drivers, and it also sets the stage for broader applications of DePIN in the country.
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About Coins.ph
Coins.ph is on a mission to power the new internet with easy access to digital assets and web3 products. Launched in 2014, Coins.ph is the most established crypto brand in the Philippines and has gained the trust of more than 18 million users. Through the easy-to-use mobile app, users can buy and sell a variety of different cryptocurrencies and access a wide range of financial services.
Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first ever crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.
About inDrive
inDrive is a global mobility and urban services platform headquartered in Mountain View, California, USA. The inDrive app has been downloaded over 200 million times and was the second most downloaded mobility app in 2023. In addition to ride-hailing, inDrive provides an expanding list of urban services, including intercity transportation, freight delivery, task assistance, courier delivery, and employment search.
inDrive operates in over 700 cities in more than 46 countries. It supports local communities via its peer-to-peer pricing model and community empowerment programs, which help advance education, sports, arts and sciences, gender equality, and other vital initiatives.
For more information visit www.inDrive.com.
