This Wednesday, crypto-supportive travel booking platform, Travala.com, announced its plans to launch a revolutionary home-rental service offering harnessing the advantages of decentralization. This goes against the current trend of the rental industry dominated by centralized platforms, which Travala then labels as the source of many broken relationships between guests and its hosts.
As per the announcement, the upcoming decentralized platform, called Dtravel, is set to be governed by the community via its Decentralized Autonomous Organization (DAO) and will fully utilize DeFi to streamline smart contract delivery between guest and hosts. Travala then referenced the many issues springing up from centralized home-sharing platforms. It states that centralization has only led to outrageous high fees and a lack of seamless communication between parties involved – and, of course, most do not accept cryptocurrency as means of payment.
The age of traditional home-sharing has now come and gone. The industry is now forced to change, says Juan Otero, the co-founder and CEO of Travala. He adds that Dtravel is to be developed with the aim of it becoming a smooth on-ramp platform into cryptocurrencies. Not only does Otero see Dtravel as having the potential to become the largest DAO in the world, but he also advocates it as having the means to become one of the best use cases present today for cryptocurrencies.
For comparison, Airbnb – Dtravel’s supposed greatest adversary – pulls about 14% to 16% of the user’s booking subtotal. Travala’s upcoming platform, on the other hand, would only accrue 7.5% of it as fees, with 1% heading directly to a protection pool specifically established to ensure participating hosts.