MALAYSIA, September 6, 2019 — Malaysia CR Region Team Leader, Dyi Wong has signed an MoU with Dacsee, a blockchain-based ride-sharing platform in Malaysia. The terms of the MoU are to develop and implement blockchain wallet integration into Dacsee’s social ride-hailing mobile applications by utilising Elastos’ Ethereum Sidechain. Dacsee currently operates on the Ethereum platform with an ERC-20 token named DACS.

Launched in 2018, Dacsee hails itself as the world’s first decentralized community-empowered ride-sharing platform. The platform has quickly established a strong presence in Malaysia with already more than 150,000 users and 12,000 verified drivers (adhering to the Malaysian ride hailing regulations).

By using blockchain technology, Dacsee provides a transparent system with a peer-to-peer network that eliminates intermediaries. The decentralized nature of the platform benefits both the drivers and passengers, as drivers retain more control over their income while passengers have access to cheaper fares.

Some of the Dacsee platform’s unique features include setting up community groups between drivers and passengers which helps foster loyalty and social interactions. As a result, passengers have the option to choose fares, vehicle size and comfort level as well as the driver’s gender. Choosing the driver’s gender is a modern feature that can be especially appealing to female passengers.

“Unlike existing ride-hailing offerings in the market, Dacsee’s business model thrives on building communities. We want to connect individuals with similar interests who can exchange ideas and opportunities, which can improve the quality of their personal and professional networks and lives,” said Lim Chiew Shan, Founder and Chief Executive Officer of Dacsee.

In August 2019, Ethereum Sidechain was officially deployed on the Elastos Main Chain. Elastos’ sidechain infrastructure allows DApps to scale to real world viable speeds of over 500 TPS, while using the global standard EVM and providing significantly lower transaction fees versus using Ethereum’s network. The integration of Dascee’s mobile app using our Ethereum Sidechain will create enhanced utility to the ELA token as every transaction on the Ethereum Sidechain will be fueled by ELA.

This partnership is formed with the following objectives which is aimed to truly benefit both the drivers and passengers in the ecosystem:

Seamless and faster wallet transactions Transparency where all transactions are recorded on the blockchain Security of wallets by utilizing Elastos technology The need to have bare minimum network fees so it is realistic in real world implementation

The CR Region Malaysia team has demonstrated their capabilities and business acumen to develop a strong regional network in Malaysia. This partnership entails the use of an Elastos sidechain for delivering real value in business enterprise applications and achieving mass adoption. Clarence Liu, VP of Development at Elastos also participated in discussions and pledged the full support of the CR ETH Task Force.

The team is currently working with relentless effort to ensure a smooth implementation of this project and to further explore potential leads which can bring benefits to the Elastos ecosystem.

Stay tuned for more updates and congratulations to the CR Regional Malaysia team!

About Dacsee

The Dacsee’s platform is the world’s first fully decentralized and autonomous ride-sharing service that leverages blockchain technology. Its unique design enables Dacsee to expand virally without assistance or control from any corporate entity.

The ability for drivers to use the platform to foster their own income-producing networks of drivers allows Dacsee to spread autonomously into new markets around the world, disrupting the current ride-hailing landscape.

Read more at: https://www.reuters.com/brandfeatures/venture-capital/article?id=70300

For Press Inquiries Please Contact:

Zach Warsavage

Elastos Communications Team

zachw@elastos.org

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