One of the WONO’s killing feature is lower commission, comparing to traditional centralized sharing services. Our accommodation and travel advisor Benedict O’Leary, who worked for more than 3 years as a business development manager at Booking.com explains, how the commission can be lowered. In previous part he spoke about the operating costs and now we’ll discuss legal issues.
It is no secret that sharing economy platforms have hit the headlines. Big news from the UK was that Uber has had its licensed renewed, for a probationary period only. OTAs have come up against government in various jurisdictions over price-fixing and market monopolies. Airbnb has faced hostility in certain areas (Barcelona for one) facing accusations of distorting the housing market. The list goes on…
Scaling a business while at the same time navigating a maze of complex regulatory environments simultaneously is a headache for any company. So is dealing with complaints from dissatisfied Users who have had issues with the product supplied (accommodation that doesn’t match the pictures, faulty vehicle, fake job advertisement etc.). Legal advice costs money, so do payouts for unsatisfied customers or governmental regulatory bodies.
What is the solution of the WONO platform?
The advantage of the WONO platform is that blockchain technology is not state-governed. It is also a community P2P platform, so the community has a vested interest in its success.
We won’t need to spend millions on lawyers and lobbyists, thus lowering our business running costs and offering more attractive commission of 1–5% instead of 10–20%.
In the next part Benedict will explain how WONO is going to optimize marketing costs, thus helping to reduce the commission.
Benedict O’Leary