China has launched a new blockchain-based initiative to ease the car rental process.
The country’s first kiosk was opened in Kunming, China, back at the end of January 2020.
The unmanned kiosk, created jointly by Alipay and Wukong Car Rental, allows consumers to drive a rented car after interacting with it.
Reportedly, the new model, combined with Alipay’s face recognition payment system, completes the entire process without an accompanying or manual vehicle inspection. Consumers do not need to carry identification cards or credit cards. Instead of that, swiping a face triggers a transaction. After confirming the order, the driver can select certain functions for the car and unlock the car doors using their smartphone.
Consumers with a Sesame credit rating of 550 or more may even refuse a deposit. The system also combines the capabilities of the blockchain to track the process of renting a car and preventing disputes of transactions.
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