PopulStay ICO (PPS Token): Blockchain Home Sharing Community?
PopulStay: Re-Inventing Home-Sharing with the Blockchain
Recent studies have shown that once a guest sees good reviews or has a good experience with their host, they like to get rid of the middlemen. This is what gave Wang Yue the idea to create a platform that eliminates the middlemen, thus helping to reduce costs. The result was the creation of the PopulStay platform.
What is PopulStay?
PopulStay is a decentralized home-sharing community that does not have a middleman. Most existing platforms for vacation home sharing like Airbnb operate in the same way. They have measures that prevent guests and homeowners from communicating directly. The result is that all communication takes place on the platform until a booking is confirmed. This leads to poor communications and high costs for all parties.
How it Work on PopulStay
On PopulStay, things are quite different. It encourages the guest and host to speak directly to each other on video or voice. Each transaction is done using a smart contract. PopulStay will release the smart door lock that is built on the blockchain to the owner of a property. The smart door lock works in much the same way as a node in the blockchain.
Property information is tied to the smart door lock, and it is connected to the main network. After the guest has made a booking, he or she will get the unlock code after verification. Besides that, the blockchain-powered smart door locks are more reliable and secure while they maintain convenient user experience.
A month ago, PopulStay obtained an investment of $2.25 million from Bitmain, Jove Capital, Handsome Capital, Insight Capital, and many others. Wang Yue state that this round of financing would be used for business operations, team expansion, and product development.
Eric, the former Chief Architect for Tokyo Ericsson, heads the technology development team. Right now, the team has 15 members. The company has already signed 2000 properties in Japan. It is also cooperating with numerous travel agencies such as Febow, OStay, and Easygo.
The Era of DApp Development
In recent months, many investors have made huge investments in public chains. Wang Yue says that the public chain has a bigger room for investments. However, he believes that from this year onward, the era of DApps has arrived. These apps give tangibility to the blockchain while reducing costs.
At the start, the aim was to power the PopulStay DApp with the Ethereum. The reason why it was picked was that ethereum is quite secure. Besides that, the team is working with the quantum and Zilliqa chain.
To create the blockchain powered ‘Airbnb’ version, Wang Yue has picked Japan as the pilot phase market. The main reason is that Japan has been quite friendly to blockchain ventures. Besides that, Japan is a popular tourist destination. Additionally, the home sharing market in this nation is quite mature. On January 15, the Tokyo Metropolitan Accelerator added the PopulStay project to its ranks. This makes one of only eight projects accepted by the institution.