Australian Rental Platform to Combat Airbnb and Expedia Duopoly Via Blockchain and Crypto

The integration of blockchain allows its hosts and travelers a safer means of organizing travel holidays and vacations. Per the report, the development offers customers a myriad of peer-to-peer services, which is not available in the home rental market.

EzyStayz plans to leverage on the peer-to-peer architecture to develop blockchain-based digital identities for its users. The customers' IDs allows for direct communication and complete transactions through smart contracts and to eliminate intermediaries, thereby reducing cost.

Interestingly, EzyStayz, which owns above 155,000 properties in 34,000 cities and 190 countries, allows users to pay with cryptocurrencies. Notably, the blockchain system features a highly secure multi-signature digital wallet that can store cryptos.

That said, the company's user can securely make payments on its platform with digital currencies. Even without the need for bank accounts or debit cards; the system notably allowed the company to unleash a new era of instant payments in the industry. Also, the system facilitates the settlement of real estate transactions on a global scale.

EzyStayz to Resolve Home Rental Duopoly Problem with Blockchain

Ultimately, the blockchain integration today aims at resolving the home rental duopoly problem currently faced by the industry.

The industry is in a state of duopoly since two huge companies, Airbnb and Expedia dominates the market. Both firms account for 72% of the bookings in the market. The duopoly resulted in a centralized system that keeps many customers in a box, according to EzyStayz. Because they mostly offer customers the same services with little or no space for diversity. 

In the words of the founder of EzyStayz, James Moses:

"We are excited to be Australia's only global holiday rental website that is Australian owned, and we are aiming to take on the larger players like Airbnb that have existed in the market for a while. It will be good to see Australian dollars staying onshore rather being sent across to the US."