Airbnb has been quite trendy on the market lately. Uber and Airbnb are the two most useful apps to have on your phone. In case you did not know, Airbnb is an app that allows you to get a room for a day. People rent rooms in their homes for a day or more. They work like a paying guest but for a shorter period of time.
This, however, is a centralized app, so half of the money you're paying is going to the app itself and there's less room for changes. And what are the things that give us more power and control?
You guessed it, BLOCKCHAIN.
So I wanted to find something that was similar to Airbnb but one; lower transaction costs and two, gives you the freedom to choose instead of finding the right pair for you.
I came across Bee Token that fits the description perfectly. It has nothing to do with the fact that there are not many blockchains to choose from, no, nada.
The Bee token was started by several former Uber programmers, based in San Francisco, who aim to be just like Airbnb. But instead of paying in dollars and euros, guests will have to purchase a specific token for the site to rent the rooms they buy using or bitcoin.
Coming to my first requirement; in fact, it satisfies it by not debiting any transaction on its platform, while Airbnb actually charges a 15% transaction fee. Only 1-2% will be charged if you choose to pay with bitcoins or ether instead of buying tokens.
But can a decentralized register replace the role that Airbnb plays in the market?
Bee Token wants to adopt a fully automated system using smart contracts, but it seems a bit difficult. You see, Airbnb has developed a sophisticated matching algorithm, a loyal customer base, and is used to solve any problems if necessary.
Bee Token offers a similar experience to Airbnb. The host sets the price, the user book and pays for it. The only difference is that they pay in tokens and once guests indicate they are happy with their experience, the tokens are delivered to the host.
The platform will resolve disputes by appointing an arbitration team of five people who will be randomly selected by its user base, hey will be rewarded for their participation. And as time continues to grow, its user base expands and blockchain updates; everything will then be decided by intelligent contracts to avoid any kind of human prejudice.
"I think that all intermediaries extract more value than what they offer – that's why they are profitable," he says. "Any network that can be decentralized and returns value to people will have an interesting reason [for people] to sign up."
Chou thinks that home adverts on Bee Token will be cheaper as you can transfer the 15Z5 savings to customers. He also thinks that other sharing platforms could be decentralized in the same way.
Although, from the technical point of view and the only perspective that matters, creating a blockchain version of Uber is a more difficult task than Airbnb. People are intimidated by the complex matchmaking algorithm and it is a very heavy load for blockchain right now, but no hope is lost. We just have to be patient.