Snow-covered Ofo bicycles are parked at the side of a road in Zhengzhou, the capital of central China’s Henan province, in January 2018. In December, millions of users asked for refunds from Ofo as the company struggled to deal with a cash shortage. Photo: Xinhua
Opinion
Opinion
The View
How blockchain can save Chinese bike-sharing firms from the pitfalls of selfishness
- Ethan Lou says China’s bike-sharing sector has been hard hit by low profit margins and a high rate of bicycle theft. Companies would benefit from using a blockchain platform that frees them from the responsibility of mediating in cases of dispute
Snow-covered Ofo bicycles are parked at the side of a road in Zhengzhou, the capital of central China’s Henan province, in January 2018. In December, millions of users asked for refunds from Ofo as the company struggled to deal with a cash shortage. Photo: Xinhua