A few days ago, billionaire Mark Cuban stated banks should be very afraid of DeFi. He was alluding to the possibility of DeFi disrupting banking as we know it. It turns out, and it is not only finance that is being disrupted.
Several former executives of Airbnb have come together to form a decentralized version of the company. The new entity is in partnership with Travala.com, a platform that is backed by Binance.
The new entity called DTravel has a service concept that is similar to Airbnb. However, that is pretty much where the similarity ends. One of the differences between them is that DTravel will accept payments in both fiat and crypto.
However, the key difference between the two is governance. Airbnb, like every other conventional company, has a centralized management and ownership structure. DTravel takes an entirely different approach. It is community-owned, and governance is through a DAO (Decentralized Autonomous Organization).
In this organization, members can take part in governance using the TRVL token. The token will soon be on both the Ethereum network and the Binance Smart Chain.
Travala co-founder, who also doubles up as the CEO, commented on this organization, stating that conventional home-sharing platforms only serve their clients well in the startup stages. From there, the fees rocket, and the client and host relationship disappear. He added that such Apps also lack diversity in payment methods.
Whether DTravel will work is a matter of wait and see. It is not the first platform to try and decentralize the home-sharing market. In 2018, the Bee Token Project tried to do it and failed.