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Binance is launching Dtravel, a decentralized blockchain-based rival to Airbnb
Jun, 18 2021
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Binance backed Travolta.com has created and launched Dtravel ,a competitor to Airbnb. Dtravel speaks of the sharing economy’s trust difficulty, giving hosts and guests more handling, ownership, and decreased fees than existing platforms. Dtravel is assisted by a $5M seed fundraising from Kenetic Capital as well as with some angel investors.
The Concerns-
* Long back, it had a limited number of corporations to dominate the home-sharing economy. However, this structure has led to the dramatic development of the home-sharing economy and cost, including.
* High fees - prevailing players charge fees up to 20% of the complete booking cost.
* Centralized and measured communications - loss of direct host-guest relationships.
* Transactional procedures, not relationships - a shift from inspiring high-value, peer-to-peer relationships to transactional ones.
* Lower points of trust - trust between hosts and guests, along with the platforms have been tough.
* Payment preferences - existing players don’t receive payment in cryptocurrencies.
The Dtravel Solution-
Dtravel aims to substitute the broken relationship between centralized home-sharing corporations and by putting possession, control, and decision making back into the hands of users through blockchain technology.
* Give a sign back to the community - the Dtravel DAO allows hosts and guests to openly influence the direction, operations and governance of Dtravel.
* Lessen fees - instead of fees as up as 20%, fees on Dtravel are only 7.5%.
* Expand payment choices - allow various cryptocurrencies, including Bitcoin, to be used for payments that lesser the cost of transacting compared to traditional payment methods.
* Line up interests - instead of being forced into a withdrawal imperative common with centralized platforms, use a token to align the economic interests of users.
* Deliver peace of mind - Dtravel will have a Protection Pool which provides Hosts up to $1,000,000 in property protection.
* Build additional revenue streams - users can earn extra revenue by referring hosts and guests, as well as by contributing to user support, community opportunities and troubleshooting.
Dtravel accomplishes the true mission of sharing economies. The DAO model permits hosts and guests to vote on matters that include the whole thing from last-minute cancellations to how community treasuries are consumed.
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Shivangi Mujumdar
CBW - External Analyst
INDIA
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