Ofo is creating a research institute to cope, thanks to the blockchain technology, to the many problems that the bike sharing is experiencing
Ofo, one of the leading bicycle rental companies in China, has set up a research institute to tackle the problems of managing bike sharing, using blockchain technology. Ofo’s blockchain research institute intends to use the technology in question globally to further facilitate big data and the IoT (Internet of Things).
Furthermore, the move is aimed at solving the problems concerning the parking of bicycles on the streets of China. Last year, regulators issued parking guidelines to encourage bicycle users to park in an orderly manner, but these seem not to have been imposed strictly.
Local governments had already imposed bans on bike rental companies
Rental companies have struggled to keep cities in order. The newspaper Q Daily has learned from the Municipal Commission of Hangzhou on urban management, that the cost of labor for the recovery of a single bicycle is 9.6 RMB.
Another problem is dumping unused bicycles. Thousands of bicycles find themselves on the edge of many cities in China. These wastes have made headlines all over the world. It has also been discovered that rental bikes are deliberately damaged. Last week, an entire bicycle cemetery was discovered in Chengdu.
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