EzyStayz, an Australian owned international vacation rental platform, is utilizing blockchain technology to bring down costs and improve its home rental services. EzyStayz is already a well-established brand that has been in business for 3 years with more than 155,000 properties in 34,000 cities and 190 countries worldwide. Now, the company is looking to the future by moving its services onto the blockchain. This move will provide its customers (hosts and travelers) a more transparent, cheaper, and safer means of organizing travel holidays and vacations.
The Home Rental Duopoly Problem
Currently, two huge companies, Airbnb and Expedia, dominate the home rental niche, both accounting for 72% of the bookings in this market. This duopoly creates a centralized system that puts many customers in a box since they will most likely be offered the same properties and services with little or no space for diversity. This results in poor holiday rental experience and low-profit margins for hosts.
EzyStayz Blockchain Solution
With the integration of blockchain into EzyStayz operations, the company will be able to offer its customers a myriad of peer-to-peer services not currently available in the home rental market. EzyStayz blockchain system uses a highly secure multi-signature digital wallet capable of storing a variety of cryptocurrencies. EzyStayz users will now be able to make secure crypto payments on its platform without the need for debit cards, or bank accounts. This feature will allow the company to unleash a new era of instant payments, facilitating settlement of real estate transactions on a global scale.
According to James Moses, Founder of EzyStayz,
“We are excited to be Australia’s only global holiday rental website that is Australian owned and we are aiming to take on the larger players like Airbnb that have existed in the market for a while.