Enabling the Sharing Economy: What can Blockchain contribute to online Home-sharing platforms?

Abstract

The rise of the sharing economy during the past decade has been a transformative player in different industries. The home-sharing marketplace is one of the major phenomena of sharing economy that relies heavily on technology to connect landlords and tenants. This digital marketplace has affected travel and tourism and has created an innovative archetype that has been adopted by society very quickly. Companies like Airbnb, and Onefinestay among others have shaped this novel paradigm and changed consumers’ lifestyle. Contrary to the past, people are now able to stay at a stranger’s place accepting a new business model that has made their life more advantageous. However, these home-sharing corporations are currently facing significant challenges primarily related to an unequal distribution of the value generated in the platform. The framework designed in this paper entails three stages. Firstly, it enables us to sort out these challenges. Secondly, it identifies the key prospects of Blockchain for the home-sharing platforms. Thirdly, it analyses the issues of decentralisation and what holds the future of Blockchain for the industry. This organising framework connects the findings to the three research questions that tackle the objectives this study addresses.