Binance Unveils New Crypto Taxi Service Mini App
Amidst so much turmoil caused by the FTX crash, former competitor Binance is releasing a new series of mini apps on their Binance marketplace to help spur the adoption and usage of major cryptocurrencies around the world with travel being one of their primary offerings.
Paying for taxis with crypto
In Binance’s latest announcement, the popular crypto exchange has said that they will now be offering taxi services to people through their new mini app. According to their tweet, the ability to hail a taxi and pay for it with crypto will be available in 150 countries.
Unfortunately, it is unclear if this service will be available in the United States where Binance delegates operations to their Binance.US division. Although this may seem like a step back for many Americans, the functions still exist in the majority of the world and give transportation options to an abundance of people which still benefits crypto networks as a whole for everybody.
Crypto flight
In an earlier announcement, Binance also stated that they would be providing similar flight ticket purchasing abilities to users on their marketplace with a similar mini app for air travel.
While not the first company to incorporate airline services into their business, it is obvious that Binance is pushing the limits on what is available for crypto holders to purchase as they continue to provide more options to holders wishing to spend their cryptocurrencies instead of holding them endlessly for seemingly unknown or speculative reasons.
Purchasing power with crypto
By providing more services and products to holders, Binance is helping to prove that cryptocurrencies are not useless or a new way to scam people. It is important to remind everyone that cryptocurrencies are monetary units and are not associated with centralized companies like stocks and bonds are.
By ending the speculation, Binance is showing that there is in fact purchasing power with crypto beyond NFTs and illegal products from the old days of Silk Road. Further, travel is an obvious use case for cryptocurrencies because blockchains are borderless protocols that do not discriminate based on location.
By adding travel to a list of services for crypto users, it opens up their ability to spend money in different countries without having to exchange fiat currencies at banks or local exchanges. This means that people will be able to save more money for their travels instead of letting it wash away due to unnecessary fees and taxes that normally accompany international travel.
Binance and FTX
One interesting aspect of this entire announcement is how Binance is still growing and expanding their services following the implosion of FTX at the beginning of November (especially because CZ catalyzed the collapse with a series of tweets).
FTX’s insolvency has caused massive shockwaves across the web3 industry, but it appears that Binance has been largely unaffected by the situation in terms of its operations because the company is continuing to expand their services and are offering further transparency with the new proof of reserve auditing sections now on Coinmarketcap.
