Binance-backed Travala is launching ‘dTravel,’ a blockchain-based AirBnb rival

Former executives from Airbnb, Expedia, and other global technology companies have joined forces with Binance-backed Travala.com to launch dTravel, a new decentralized platform for the home-sharing economy that facilitating short and long-term stays payable with crypto and traditional payment methods.

dTravel is backed by a $5 million seed fundraising round from Kenetic Capital, Future Perfect Ventures, DHVC, Plutus VC, GBV Capital, AU21 Capital, Shima Capital, LD Capital and NGC Ventures, as well as several angel investors.

Governed entirely by its community via the dTravel Decentralized Autonomous Organization (DAO) and leveraging decentralized finance (DeFi) blockchain technology to facilitate smart contracts, dTravel repairs the broken relationship between hosts and guests created by existing centralized home-sharing platforms to deliver the world’s first true sharing economy.

Dtravel is powered by its native token TRVL — coming soon to Binance Smart Chain and the Ethereum Network — which is held by all hosts and can be used for booking stays, staking to qualify for rewards, participating in platform governance, and more.

The first 100,000 hosts to register are eligible to receive over $35 million worth of TRVL tokens.

Juan Otero, co-founder and CEO of Travala.com, in a statement:

“Traditional home sharing platforms are aligned with their users in the early stages, but over time this changes. With the need to return profits to shareholders, home-sharing platforms are forced to extract as much as possible from transactions on their platforms.”

He added:

“Dtravel meets the needs of the home-sharing community first and forever. It’s easy-to-use, highly secure, and optimized for the next generation of hosts and guests looking to take back control of their travel experience.”

The Problem: Too Much Control in the Hands of Too Few

Over the past decade, a limited number of corporations have risen to dominate the home-sharing economy. Though this structure has led to the dramatic growth of the home-sharing economy, it has done so at a cost, including:

• High fees – existing players charge fees up to 20% of the total booking cost
• Centralized and controlled communications – loss of direct host-guest relationships
• Transactional processes, not relationships – a shift from encouraging high-value, peer-to-peer relationships to transactional ones
• Lower levels of trust – trust between hosts and guests, as well as towards the platforms themselves, has been eroded
• Payment options – existing players don’t accept payment in cryptocurrencies

The Dtravel Solution: Community-governed, Peer-to-peer, DeFi Native

Dtravel aims to replace the broken relationship between centralized home-sharing corporations and their hosts and guests by putting ownership, control, and decision-making back into the hands of users through blockchain technology. In doing so, Dtravel can:

• Reduce fees – instead of fees as high as 20%, fees on Dtravel are only 7.5%
• Give a voice back to the community – the Dtravel DAO enables hosts and guests to directly influence the direction, operations and governance of Dtravel
• Expand payment options – enable various cryptocurrencies, including Bitcoin, to be used for payments that lower the cost of transacting compared to traditional payment methods
• Align interests – instead of being forced into an extraction imperative common with centralized platforms, use a token to align economic interests of users
• Provide peace of mind – Dtravel will have a Protection Pool which offers Hosts up to $1,000,000 in property protection
• Create additional revenue streams – users can earn additional revenue by referring hosts and guests, as well as by participating in user support, community forums and troubleshooting

“Sharing economies are authentic and sustainable only when they are governed and controlled by stakeholders, and the home-sharing ecosystem has been broken for years under outsized control from centralized corporations. It’s time for a community-owned and community-governed replacement,” explained Jalak Jobanputra, Founding Partner of Future/Perfect Ventures.

He concluded, “With travel starting to rebound and a record level of interest in blockchain technologies like cryptocurrencies, Dtravel gives eager people what has been missing to date: control and ownership over their own travel experiences. By allowing guests and hosts full participation in their experiences and in the economy they are creating, Dtravel fulfills the true mission of sharing economies.”

Disclaimer: CryptoSlate holds a financial position in dTravel.

The post Binance-backed Travala is launching ‘dTravel,’ a blockchain-based AirBnb rival appeared first on CryptoSlate.