Dtravel is at the intersection of two massive industries—blockchain and travel‚ with billions of travellers and property owners worldwide, yet this industry is a fraction of the size it could be. With Dtravel bridging the gap, the travel industry can grow orders of magnitude larger by being an open, decentralized economy that incentivizes more widespread participation.

1. Create a world where every person is empowered to be an active owner in the future and success of the sharing economy.

2. Leveraging Web 3.0 technologies, enable community members to work together to build and realize the full potential of a new home sharing experience.

3. Home sharing platforms owned and governed by community members will usher in a new type of sharing economy that will be as transformative to the travel industry as the ones that came before.

So our team started the project by understanding the user's needs, and gathering feedback from users. We conducted extensive research on the OTA industry and competitors' websites to identify best practices and trends.

Synthesis the findings

The travel economy of the future is owned by people – not companies – and the web3 ethos is a perfect match for this vision. However, web3 technologies are still new to most folks. It will take time for people to feel comfortable with web3 technologies , just as it took time for most people to feel comfortable staying in a stranger’s home.

1. Market opportunity

   Dtravel is at the intersection of two massive industries - blockchain and travel‚ with billions of travelers and property owners worldwide, yet this industry is a fraction of the size it could be. With Dtravel bridging the gap, the travel industry can grow orders of magnitude larger by being an open, decentralized economy that incentivizes more widespread participation.

   
   

2. Why not

   The pent-up demand for travel, coupled with mainstream adoption of blockchain technology, presents an opportunity to innovate at the center of both worlds. With a record-setting travel rebound set to occur, home sharing will be the preferred way to stay.

   • Airbnb’s growth has been outpacing that of the global tourism business

   • In the first nine months of 2020, Airbnb attracted over 14 million new active bookers

   • Longer-term stays in private accommodation are trending thanks to a shift toward remote work.

   • For Booking.com, homes represent 40% of new bookings in the second quarter and 33% of new bookings in Q3.

   
   

3. The promise and problems of Web 2.0

   Web 2.0 enabled a new kind of network to thrive, connecting a two sided marketplace that had never before had the ability to connect and engage. However, web 2.0 networks are limited by their corporate structure and objectives to maximize shareholder returns. This has led to the misalignment of values, purpose and power between platforms and their users who ultimately drive platform growth and value.

   
   

   1. Hosts

      • Extraction imperative from Web 2.0 platforms means high fees and misaligned incentives

      • Have no say in governance despite being closest to the platform and customer experience

      • Have little economic upside despite creating the majority of value in Web 2.0 platforms

        
        

   2. Guests

      • Have limited payment options including no option for cryptocurrency payment

      • Web 2.0 platforms charge hosts high fees, so guests pay more than they should

      • Are enrolled in legacy loyalty programs that do not offer good utility