Manila, Philippines, January 10, 2025 – Coins.ph, the leading cryptocurrency exchange in the Philippines, has partnered with global ride-hailing app inDrive and decentralized mapping network Hivemapper to deploy the first fleet of blockchain-powered ride-hailing cars in Manila.
Wei Zhou, CEO of Coins.ph, emphasized the partnership’s global significance and its impact on drivers, “Coins.ph is excited to pioneer this groundbreaking collaboration together with inDrive and Hivemapper. By layering token rewards on top of ride-hailing services, we’re giving drivers a way to boost their earnings from work they’re already doing. This aligns with our mission to empower Filipino communities through crypto.”
The collaboration harnesses Decentralized Physical Infrastructure Networks (DePIN), a cutting-edge technology that connects physical services like transportation to blockchain networks, creating new ways to earn and share value. Furthermore, the launch of this initiative places the Philippines among the first countries globally to implement DePIN in a real-world context, highlighting the nation’s commitment to embracing innovation.
During a press event at inDrive’s headquarters in Quezon City, representatives from all three companies shared insights into how this partnership enables drivers to generate extra earnings by collecting and sharing real-time mapping data.
Mark Tolley, inDrive Regional APAC Director, expressed enthusiasm for the innovative collaboration, stating, "This partnership with Coins.ph and Hivemapper represents a significant step forward in integrating blockchain technology into everyday services. By empowering our drivers with new income streams through decentralized mapping, we’re not just enhancing their earning potential but also contributing to a smarter, more connected world. As a people-driven company, inDrive is always looking for ways to support our drivers and improve the overall experience for both drivers and passengers. This initiative underscores our commitment to leveraging cutting-edge technology to create value and drive positive change in the communities we serve."
Hivemapper’s dashcam-like devices are installed in inDrive vehicles to collect mapping data. This data contributes to an open, up-to-date map of the world, and drivers earn $HONEY tokens as a reward for their contributions. Drivers can easily manage their tokens within the Coins.ph app, allowing them to be securely stored, transferred, or exchanged to pay bills and other daily necessities.
“Every rideshare driver knows the pain of an outdated, inaccurate map,” said Ariel Seidman, co-founder of the Hivemapper Network. “For decades, drivers have just had to wait for big tech companies to collect fresh map data, but Hivemapper allows them to passively improve their local map and earn rewards along the way. We’re thrilled to partner with Coins.ph and inDrive, which share our commitment to making everyday driving more rewarding than ever before.”
The successful deployment of this blockchain-powered fleet demonstrates the potential for blockchain technology to transform real-world services and create tangible impacts in people’s day-to-day lives. Coins.ph, inDrive, and Hivemapper are committed to expanding this initiative, exploring new ways to enhance transportation and promote financial empowerment not just in the Philippines but around the world.
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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.