BENGALURU, INDIA – Drivezy, a self-drive car rentals company in India, is raising funds to become the first business of its kind to accept bitcoin payments.
The company is planning on starting an Initial Coin Offering (ICO) to raise 17,625 ETH (about $5 million) and has claimed to have raised $10 million thus far.
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“Considering the rising cost of important assets and resources such as housing and transportation, I believe the future is a shared one. With the growing popularity of Bitcoin in India, we feel that this is the right time to open ourselves up to alternative means in the sharing economy. This ICO is a part of our vision to leverage the power of Blockchain to build an open, secure and transparent technology to globalize the Indian car sharing marketplace,” said Ashwarya Pratap Singh, CEO of Drivezy.
Drivezy has over 1300 vehicles in four cities in India.
The Government of India has remained largely silent on regulating cryptocurrencies or ICOs, so the company says that it will be launching its ICO in Japan.
This way, Drivezy will be fine if India comes out with harsh regulations against the technology in India.
Bitcoin acceptance may be coming to Uber soon as well.
The new CEO of the ridesharing company, Dara Khosrowshahi, ex-CEO of Expedia, has made numerous positive statements on cryptocurrencies and has even adopted the payment method into Expedia.