Decentralized Cab Booking Application Utilizing Blockchain, Smart Contracts and Oracle Networks

Abstract

Traditional cab booking applications suffer from many issues, including centralized control, data vulnerabilities, and high operational costs paid to companies. These limitations necessitate a transition towards decentralized alternatives to address the growing need for more efficient, cost-effective, and secure transportation services. This paper presents an idea that uses blockchain technology to improve the cab booking system. In the proposed system, the aim is to eliminate central authorities, offering an array of benefits such as enhanced security, reduced costs, and increased transparency throughout the booking process. To achieve this, smart contracts are employed to automate and secure transactions. The client-side page is deployed to the InterPlanetary File System (IPFS) for improved accessibility and redundancy. Additionally, the creation and utilization of oracle networks for real-time, trustworthy location data are suggested. The approach represents a paradigm shift in the transportation industry, ensuring data privacy, cost-efficiency, and transparency while eliminating the need for centralized intermediaries. Through the integration of smart contracts, IPFS, and oracle networks, a promising path towards a decentralized and secure cab booking ecosystem is offered.