Korean startup Wehome, has brought to the market a unique home sharing service, which can be termed as a ‘Blockchain version of Airbnb’. Started in the later part of 2018, Wehome is led by an experienced team of Kozaza, the Korean company which is an already established shared accommodation business since 2012.
Creating value through a shared platform
Wehome is basically developed through the idea of sharing accommodation just like Airbnb but it has its base in blockchain technology. Unlike the centralized shared platform of Airbnb, Wehome offers a decentralized shared accommodation platform centered on the users. Utilizing blockchain technology and token economy, Wehome provides innovative values such as 0% commissions, money incentives, and community ownership. There are no handling fees but there are bonuses.
Compared to typical home sharing platforms, Wehome is based on a stakeholder-oriented ecosystem. Hosts and guests share incremental values as the network expands. Guests do not have a commission fee to pay and they get quality hosts because of the high level of criteria for Wehome hosting. Wehome team validates the quality of properties through on-site visits, host interview, and legal compliance. The hosts get optional easy hosting functions such as keyless check-in, remote home monitoring, and control based on IoT solutions. Wehome also supports hosts with effective promotion, during the early phase of home sharing or the offseason.
The Wehome community of guests and hosts owns the platform by holding the HOM token. This incentivizes participants to volunteer more time and put effort to increase the value of the community. There will be various incentive programs to increase contributions such as the number of reservations, reviews & grades, friend invites, and token purchases. Wehome also wants to add the service marketplace for guests and hosts. Guests travel conveniently and economically by purchasing services like transportation, shopping, and caretakers and hosts can offer the services.
Gearing up for a bigger global home-sharing market share
Wehome has a strong foundation team from Kozaza under the guidance of the CEO & Co-Founder Sanku Jo. Kozaza has been the business of accommodation sharing for 7 years now. The company wants to now concentrate on developing Wehome to a success story. Wehome plans to launch its services in 10 Asian countries that are most popular among Korean tourists. Wehome’s goal is to take over 10% of the global home sharing market share by 2020. The startup wants to open Wehome’s services in 100 cities around the world by next year and ensure 10% of traffic from Airbnb by 2022.
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