European holidays rental site LaComunity has created The Rentals Network, the first fully decentralised vacation rentals network. The Rentals Network is an agnostic marketplace fully open to all the players in the vacation rental sector, including owners, guests, professional property managers, channel managers, and large online distribution platforms.
This network is an ecosystem developed in blockchain technology consisting of a token, a decentralised app (dApp) and a marketplace with a set of decentralised protocols implemented as “smart contracts” based on the Ethereum network.
This open and independent model allows any market player to use The Rentals Network to drive their business, reach more customers, book properties or create all kinds of commission-free vacation rental services.
The Rentals Tokens (TRT), an Ethereum ERC-20 token, is designed to reduce the inefficiencies of the supply chain in vacation rental market, cutting off the high fees charged by today’s vacation platforms. The Rentals Token allows not only a saving of up to 25% in transactions, but also incorporates all the information related to the homes and actors involved in each transaction.
In this way, it improves the trust system that currently centralises vacation platforms and avoids false opinions, frauds and illegalities or errors in prices and availability, among other benefits.
“The main decentralised blockchain model of the European travel market”
Francesc Sanz, CEO and founder of The Rentals Token and LaComunity, said: “The TRT Token was born to become the payment standard for the vacation rentals market worldwide. It doesn’t have commissions and it’s the first blockchain project that really solves the endemic problems of this sector, so it is an incentive for all interested parties”.
“We intend to create the main decentralised blockchain model of the European travel market and a the next generation of travel dApps”.
The pre-sale will be launched in September and the Rentals Token ICO will be developed in two phases: the first section, of EUR 5 million, which is intended for both worldwide buyers (with certain exceptions) is to be marketed from the 17 September – 31 October. The second section of the ICO will be carried out in November. It is expected to be for EUR 20 million.
The ICO value comes to a total sale of 1.35 billion TRT (equivalent to EUR 25 million) and establishes an initial exchange rate of 7,500 TRT = 1 ETH. Around EUR 500,000 are already committed. LaComunity expects The Rentals Network and its dApp to begin operating in October 2018, with the TRT available for use in an initial network of at least 20,000 properties worldwide.