Travala.com unveils ‘Dtravel’ – a decentralized Airbnb rival

Travala.com unveils ‘Dtravel’ – a decentralized Airbnb rival

Blockchain-based travel booking platform- Travala.com has announced the launch of Dtravel- a decentralized vacation rental service that offers homeowners a share in the platform. When compared to the set up on a centralized network like Airbnb, Dtravel house guests and homeowners will share joint ownership on the platform.

Binance-backed Dtravel is community-owned through the Dtravel DAO in which communication and voting between people is an core effort. Notably, the DAO model permits hosts and guests to vote on matters that include almost everything from how the community treasuries are used to last-minute cancellations.

According to Juan Otero, CEO of Travala, the company’s novel offering guarantees trust unlike that on the centralized platform. The coronavirus pandemic has largely affected booking companies, taking away funds from hosts. The introduction of a decentralized solution such as Dtravel will carry the potential to expand at a global level, Juan added.

It is worth mentioning that this is not the first cryptocurrency project to use this business project. Former Uber employees initiated the Airbnb-esque Bee Token project, however, they could not find customers and ultimately shut down the platform.

Sources cite that Traval.com is planning to incentivize the adoption of cryptos across its platform by allowing the first 100,000 hosts to mention their homes on Dtravel to collectively earn over USD 35 million in TRVL coins.

U.K.-based- Travala.com has over 3 million listings of hotels and homes and more than 200,000 monthly users. The system is known to provide nearly 30 methods of payment, although 70% of the users pay through cryptocurrency.

Seemingly, Dtravel is based on the Binance Smart Chain. In the last five months, the company has reportedly raised funds worth USD 5 million from NGC Ventures, DHVC, Plutus VC, Shima Capital, Future Perfect Ventures, Kenetic Capital, and certain private investors.   

Source Credit: https://www.coindesk.com/binance-backed-travala-launches-dtravel-a-decentralized-airbnb