Payments in the Sharing Economy, Total Payments, Melbourne, Australia

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Timeline for the Sharing Economy:
Emerged
Unregulated growth / under the radar
Attention as growth increases
Concerns / Regulation / Conflict
Maturation – addressing raised concerns
Settling In - Fitting into the global economy / An example of embrace and extend. Collaborative Consumption will not replace, but augument and extend.
Second tier impacts – now that the world is different, what are the aftershocks? After the initial disruption. The new set of problems.

Changetip aqui-hire
Not acquiring the assets, or IP, but the team

Nathan Blecharczyk, a co-founder and the company’s chief technology officer, telling CityAM that blockchains might allow Airbnb to share its user profiles with other companies. “The question is whether there’s a way to export [a user’s reputation] and allow access elsewhere to help other sharing economy models really flourish,” he said.

As Airbnb has grown its userbase to more than 17 million in summer 2015, according to the company (pdf), it’s also developed a valuable database of reviews and ratings that let hosts and guest judge the trustworthiness of who they’re dealing with. “Within the context of Airbnb, your reputation is everything, and I can see it being even more so in the future, whereby you might need a certain reputation in order to have access to certain types of homes,” Blecharczyk told CityAM.

Trust is something blockchains are uniquely suited to dealing with. They can provide a permanent record of transactions and other data, and, in some cases, can render that data universally readable, as in the case of the bitcoin blockchain.

If Airbnb can figure out a way to make its user profiles immutable and universally readable, they could become a trusted form of digital identity, a bit like the profiles that credit bureaus create for individuals. If these identities can be “exported” to other platforms, as Blecharczyk said, they could become hugely valuable. An Uber driver, for example, might know if his next passenger came with a history of leaving Airbnb properties damaged.

Payments in the Sharing Economy, Total Payments, Melbourne, Australia

Heather Vescent

Payments in the Sharing Economy, Total Payments, Melbourne, Australia