Decentralized AirBnB - "CryptoCribs"

joshbreslauer (60)in #travel • 7 years ago (edited)

"Travel the World & Pay in Crypto !"

AirBnB revolutionized the hotel and rental business in 2008 like no other company.
The start-up from Silicon Valley characterize the term "shared economy", which refers to an economic system where participants share resources with each other instead of buying or lending them from central locations.
But now, it could fall victim to a new innovation - a Decentralized AirBnB called "CryptoCribs".

Shared economy & Decentralization

Via AirBnB everyone can rent their own living space via an app.
If you have a central location in a popular city, you can either rent a whole apartment, a room or just a couch to travelers. Everyone can imagine how much the hotel industry might be damaged in the course of this possibility.
After the rental, the tenant and the landlord can evaluate the rental process, which creates a reputation system.
So each user gets a reputation which helps other people to assess a person,
because they maybe do not want to rent their flat to everybody.

CryptoCribs

If you have a look at the website (http://www.cryptocribs.com/)
there are a lot of similarities to AirBnB, which makes it quite familiar.
The first significant difference is the button at the bottom left corner.

a drop-down menu that displays ETH and BTC as payment options.
Although the prices can be converted into EUR, USD, GBP and CHF Values, the platform accepts ONLY CRYPTO !

CryptoCribs wants to attract crypto-enthusiasts from all over the world.
All payments are processed through the users private wallets, nobody else is able to intervene payments.
Everything remains under the control of the users.

"CryptoCribs makes traveling more affordable and interesting for the global crypto community. We are all distributed nodes validating the blockchain. Now the time has come to share more than hash values and nonces. Open your home to nodes around the world and explore the world on crypto. CryptoCribs is working on a smarter way of building trust, sharing your home and meeting other crypto enthusiasts around the world.

What is CryptoCribs ?

CryptoCribs is an innovative vacation rental platform for the crypto community, which offers :

Peer-to-peer traveling
Cryptocurrency Payments
Reputation Mining

Why use CryptoCribs ?

In the age of overhyped ICOs, CryptoCribs is a community project with a bigger mission.

Security and Control
Crypto Community
Building the future

Currently there are only a few of apartments and rooms from the USA and France.
Some providers are, among others, developers for ethereum or scientists within the blockchain space .
Even if the project is still very young, the idea seems very promising.
And the possibility to pay an accommodation with Bitcoin or Ethereum really improves the usability of Crypto Currencies !

AirBnB is a central platform. Cash flow and reputations checks are going through their platform.

So this platform is also a Middleman, which stays in the backround and therefore it only seems eliminated.

CryptoCribs offers a network now which provides the same possibilities of AirBnB without maintaining a middleman position.

The economic power circulates only among private persons - among tenants and landlords.
Blockchain Technology makes it possible that Transactions need no banks anymore,
therefore agreements for rentals of accommodations shouldn't necessarily need hotels or companies like AirBnB !

If you want to learn more about CryptoCribs visit the website

http://www.cryptocribs.com/

or read the Whitepaper

http://www.cryptocribs.com/images/whitepaper.pdf

#cryptocurrencies #airbnb #decentralized #economy

7 years ago in #travel by joshbreslauer (60)

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simibac (35) 7 years ago

Is there any information about how a decentralized economy such as Cryptocribs generates revenue? I understand that such a system can be bootstrapped with an ICO. But how is such a system maintained and how are developers payed to implement new features?

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joshbreslauer (60) 7 years ago

very good question. thank you.
hosts and guests are paying 5% service fee each.
(in the beginning...)

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simibac (35) 7 years ago

Does the fee directly go to the developers?

I imagine a successful decentralized economy implementation as follows:

Significant lower fees than large competitors (eg. 5% compared to Uber's 25%). These fees are not payed directly to the company building the platform. Instead it is distributed among all the token holders. Since the dev team keeps a large fraction of the tokens in the ICO for themselves, they get enough money to further develop the platform. Fees are necessary to prevent fake bookings and fake reviews!
Token holders can secure and provide extra value to platform by resolving disputes between two parties. They can act as sort of a court in the economy. Let's say for example a guest broke a lamp and the he/she is not willing to pay for it. Then the host can open a dispute (submit proof photos etc) and the token decide on the outcome. The Beetoken (https://www.beetoken.com/) implements this feature and is described in more detail in their whitepaper on page 12. Active token holders are rewarded for resolving disputes.
Identity verification and reputation systems across multiple platforms provides faster adoption. Check out Origin Protocol (https://www.originprotocol.com/).

Please let me know if you disagree or think there are other crucial characteristics for a decentralized economy.

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joshbreslauer (60) 7 years ago (edited)

nice hints !
i totally agree with you about some necessary improvements !
We need tested and working blockchain consensus structures to realize stuff like this.
The concepts of DAOs will presumably create solutions for these kind of organizations and will even invent unknown usecases.
But i would argue that we need a working stable coin in the first place !
"Regulated" proportionalities of valuations are necessary for most business and trading.
I plan on making an updated post about the MAKER DAO project. (which offers an ethereum based stablecoin called DAI)
Which could be a great solution for a lot of Applications and Projects which need stability in the first place while using cryptocurrencies.

(imho Steemit is a great governance experiment, which lessons will help to improve community features for DAO business structures like shared economies)

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yanik77 (30) 7 years ago

Aweseome thanks :)

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simibac (35) 7 years ago

I did some more research about decentralized shared economies. I came across Origin Protocol (https://www.originprotocol.com/), which provides a library (set of tools for programmers) to make it easy to create and manage listings on the Ethereum blockchain. Existing businesses or new projects don't have do develop an entire platform from scratch. Further, it allows to use a reputation system across multiple platforms which are built on top of the Origin Protocol. Imagine your Airbnb reviews can also be included in your Uber profile etc.
Origin Protocol has already partnered up with Beetoken (https://www.beetoken.com/), which also tries to disrupt the home-sharing economy. Their team and concept looks promising. They also included a decentralized dispute resolution, which I think is crucial in decentralized economy.
There are other market places (such as Uber competitor) built on top of the origin protocol which are listed on their website which set a new standard in decentralized economy.