A decentralized, P2P platform, StayBit complete vacation rentals on blockchain. StayBit has a goal to help modernize the booking-renting process by focusing specifically on the short-term vacation rentals market. This market is mostly managed by the average person and small property management companies. StayBit will provide a solution that will enable its users to safely transfer funds between tenants and property owners, it will also automate mediation between these parties using smart contracts.
Problems StayBit Seeks To Solve
Several known service providers such as airbnb.com, flipkey.com, and booking.com dominate the current short-term vacation rentals market. These providers mainly connect property owners and tenants. For that service, they take a percentage of every transaction. Despite their popularity, these providers have some significant disadvantages.
To ensure that these problems no longer exist in the industry, StayBit offers a viable solution.
StayBit strongly believes that by applying a wide range of measures such as decentralization, moving transactions from fiat to crypto, and introducing flexible escrow contracts operating on the blockchain, it can eradicate the problems mentioned above. In the end, the following are likely to be the results:
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