Cryptocurrency Community Knows Culture is Critical When Comparing to Mainstream Tech
The Mainstream Tech Finally Realizes the Benefits of a Community; the Crypto World was Already Aware of the Secret
The crypto market has strongly been driven by the community with XRP, Bitcoin (BTC), Bitcoin Cash (BCH), and Tron (TRX) having the most active communities in the market. For the mainstream companies, the likes of Airbnb have gone ahead to ask SEC to allow the company to be able to issue some shares to their hosts, just as Uber has been approaching SEC in several occasions.
It is all About the Community
In a letter recently written to SEC, Securities and Exchange Commission, the travel company Airbnb went ahead to ask for permission so that they are able to use equity within the company for the hosts. Brian Chesky went ahead to share a statement to the media outlets that the Airbnb has been designed as a community-based outlet, and he goes on to say the company would not be successful without their hosts.
He continues to say that the company would like to reward the most loyal hosts to become shareholders, but they would need the current policies to change in order to make this happen.
The Letter Sent to SEC
The letter that Airbnb sent to SEC mentions that the company firmly believes that the companies in the twenty-first century become successful when interests of the current shareholders have been aligned.
For a company that has been designed as a sharing economy, like Airbnb, the shareholders will include the investors and employees, and not forgetting the hosts who have the ability to use the marketplace where they list their accommodations and the different experiences offered.
The letter goes on to say that as a sharing economy marketplace Airbnb will only succeed when the hosts are also thriving. The company firmly believes that with enabling the private companies to grant the hosts plus the other sharing economy some equity from the company from the onset, then this will be able to align further the incentives that exist in these companies. Not forgetting the sharing economy participants will be able to benefit from both.
Airbnb strongly relies on the hosts who open their homes to the different users, therefore, to maintain the loyalty of these hosts is by offering something, like giving some shares of the company.
It will also work in the way of compensating the excellent job the hosts have done. But this request to SEC is not the first time as Uber has meet with them several times to discuss this issue further.
The Community Actively Drives the Crypto Space
This might be the time mainstream companies are starting to realize the importance that communities are able to offer, but with the crypto market, it has been following this concept since its inception. In fact, the crypto market has heavily focused and has been driven by the energy of the community that is surrounding them.
A platform is nothing without a community.
The crypto world understands this [see "shitcoins", circa 2018].
The rest of the tech world is starting to understand too.
Airbnb and Uber both asked the SEC to share equity with their hosts and drivers.
Your community is everything. pic.twitter.com/vmPNE45YyV
— Kevin Rooke (@kerooke) September 24, 2018
Every digital coin has been able to attract its own active community of supporters who are invested in spreading the word about the digital asset and also going the extra mile in defending it to the extremes in the market.
And at times these communities have been known to go slightly overboard for the cause they believe in. Bitcoin has been able to be among the top due to the backing of a strong community; other tokens such as TRX and XRP also have one of the most active supporters in the market.
With every year the crypto market has been gradually growing, and this would also mean that the supporters plus community enthusiasm are also gradually increasing.