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RE: Decentralized AirBnB - "CryptoCribs"

in #travel • 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?

7 years ago in #travel by
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     7 years ago 

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

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       6 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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       6 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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