Cabverse: An Efficient and Secure Car Pooling System Using Blockchain Technology

Most of today's rental transportation options depend upon centralized control, which ends up making the system vulnerable to flaws at certain points and raises concerns about the disclosure of sensitive information by internal and external attackers. These transportation systems are also susceptible to outside threats and frauds, and the present ride-sharing service provider's commission is quite high leaving the driver underpaid. The idea behind ride sharing is to allow people travelling the same route to share their vehicles giving rides at a reduced cost with less congestion on roads while preventing environment through reduced toxic gases due to reduced fuel consumption. The proposed system enables frequent travelers to share their vehicles with other registered passengers or borrow rides from owners of other vehicles commuting the same route in an autonomous, self-sustained, flexible and secure ecosystem. Ethereum blockchain technology is used to provide secure system without centralized control, giving additional security and revenues/savings to drivers/riders. The trip information, including seat availability, booking confirmation, the pick-up and the drop-off locations, the arrival and the departure times, are secured with blockchain mining. The payments are secured with Ethereum based smart contracts to handle booking, cancellation, and transfer of ride fares without any conflicts. The proposed system is capable to reduce congestion by decreasing the number of vehicles on road due to effective vehicle utilization by sharing. The overall impact on natural resources and environment makes this system a promising ecosystem for future transportation systems.