Also, Indonesian ride-hailing motorcycle drivers protest over low pay, ServisHero eyes an ICO, and more

Uber drivers using cars from Lion City Rental drivers can now accept Grab bookings [Channel NewsAsia]

Boy, the Uber-Grab merger has sure got off to a rocky start. First, there was confusion over whether Uber employees would be absorbed in Grab’s operations. Then, Uber drivers using cars from Uber’s central service Lion City Rental [LCR) voiced concerns over the fate of their rental leases, since their contract specified that they were not allowed to drive for rival ride-hailing services.

Now, LCR has done a 180 degree on that stipulation, Today, Grab announced that Uber drivers with LCR will now be able to accept bookings from them.

LCR , in a Facebook post, said that though it is “closed until official notice”, drivers under contract are still required to keep up with their weekly payment and rental fees.

LCR is also working with Grab to onboard its hires onto the Grab platform. Grab did not acquire LCR as part of the Uber deal, however.

ServisHero is going on a blockchain and eyeing an ICO [Digital News Asia]

Malaysia-based online marketplace ServisHero is venturing into blockchain and eyeing an ICO. It will develop a ServisHero Coin based on the Ethereum blockchain, to serve its platform.

ServisHero is developing the blockchain platform with the help of Origin protocol, a service that helps developers build decentralised marketplaces.

The ICO is expected to launch in mid-2018

The company cited three reasons for going into blockchain and ICO:

  1. Greater transparency on its platform;
  2. Bigger pool of investors to draw from;
  3. Reducing costs and middlemen such as banks and payment gateways.

Motorcycle ride-hailing drivers in Jakarta protest over low wages [The Jakarta Post]

Across the world, ride-hailing drivers are finding it increasingly difficult to take home a decent wage. A recent MIT study found that Uber and Lyft drivers were earning below minimum wage (although that study is being revisited).

In Jakarta, the situation is the same, and today, thousands of motorcycle ride-hailing drivers took to the streets of Jakarta today to protest over this issue. The main cause of the problem seems to stem from that fact that fares there are generally low, and as a result, the drivers’ income suffer.

Also Read: Grab acquiring Uber’s data trove is a major red flag. Here’s why

They are demanding ride-hailing companies to bump up these wages, which, according to one protestor is “inhumane” in its current state.

Singtel Innov8 and Boeing make joint US$15 million investment in Australian startup [Press Release]

Singtel’s VC arm Singtel Innov8 is joining a US$15 million Series A round along with Main Sequence Ventures, Blue Sky Venture Capital, Right Click Capital and Boeing HorizonX Ventures to fund Australian nanosatellite IoT startup Myriota.

Founded in Adelaide, Australia in 2015, Myriota enables massive scale, low-cost communications for IoT devices anywhere on the planet using direct-to-orbit technology.

Also Read: Stripe Co-founder Patrick Collison on why companies need to build a developer-friendly culture

The company will use the newly-raised capital to accelerate its growth by launching more satellites, delivering revolutionary large-scale IoT deployments, and expanding its global operations. New sales and customer support offices will be opened in North America and Asia, and the business expects to add at least 50 new staff

 Fintech startup FinAccel receives lending license from the Indonesian government [Press Release]

FIntech startup FinAccel today announced that it has secured a license for IT-based lending services from the Indonesian Financial Services Authority (OJK) since March 21, 2018.

FinAccel builds Kredivo, an e-commerce checkout and digital lending platform.

In a press statement, FinAccel CEO Akshay Garg said that OJK has been “very open and supportive” in setting up regulation for the fintech sector.

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