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Definition: TaaS

(1) (Transportation As A Service) Renting a car as needed rather than owning one. In the future, renting a self-driving car is expected to be the major driver of TaaS. Relying on cloud computing for scheduling and accounting, fleets of electric-powered self-driving vehicles will replace many vehicles currently on the road.

Like Uber and Lyft, customers use an app to call up a car to take them shopping or go anywhere. It is estimated that when self-driving technology is mature enough, most people will not own a second car and some might not own any car, because TaaS rental will be considerably less expensive than vehicle ownership. Also called "Mobility as a Service" (MaaS). See XaaS.

(2) (Token As A Service) A closed end fund that invested in cryptocurrencies. TaaS launched at the beginning of 2017 and shut down in 2019.