{"id":3808,"date":"2018-01-19T18:20:32","date_gmt":"2018-01-19T18:20:32","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=3808"},"modified":"2022-05-04T21:38:03","modified_gmt":"2022-05-04T21:38:03","slug":"origin-protocol-build-infrastructure-new-sharing-economy","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/origin-protocol-build-infrastructure-new-sharing-economy\/","title":{"rendered":"Origin Protocol To Build The Infrastructure For A New Sharing economy"},"content":{"rendered":"

The company is creating a set of protocols that allow developers and businesses to build decentralized marketplaces on the blockchain, with a focus on the sharing economy. They have just released their live decentralized application and announced that over six different companies have committed to developing applications on the platform<\/strong><\/h1>\n
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Origin Protocol To Build The Infrastructure For A New Sharing economy<\/figcaption><\/figure>\n

San Francisco based entrepreneurs, Matthew Liu and Josh Fraser, have suggested a dramatic proposition with their newest venture: What if open-source software can replace dozens of multi-million or even multi-billion dollar companies?<\/p>\n

The two entrepreneurs and their team are building\u00a0Origin Protocol, a set of open-source blockchain protocols that will allow buyers and sellers of fractional good services like car-sharing, home-sharing, and more to transact on a decentralized, open web platform.\u00a0\u00a0Using the Ethereum blockchain and Interplanetary File System (IPFS), the platform and community are decentralized, allowing for the creation and booking of services and goods without traditional intermediaries.\u00a0\u00a0The company has recently\u00a0announced<\/a>\u00a0that their decentralized application (DApp) is now live on the Ethereum test network and numerous new projects have committed to building on their platform.<\/p>\n

The problem they are tackling is that, globally, bookings across the sharing economy are expected to top\u00a0$335B by 2025<\/a>, with marketplaces like Uber, Airbnb, Postmates, Doordash, GetAround, Fiverr, TaskRabbit, etc, expected to\u00a0earn $40B in platform fees<\/a>\u00a0annually by 2022.\u00a0\u00a0Some of these sharing economy sites charge upwards of 30% for hosting transactions on their site.<\/p>\n

Origin Protocol proposes cutting out these middlemen with new standards for the buying and selling fractional usage assets and services by using blockchain technology.\u00a0\u00a0Origin is built on the Ethereum platform, the leading cryptocurrency platform that enables smart contracts to execute on the blockchain. Critical transactional data such as pricing and availability are stored directly on the blockchain. The benefits of this will be dramatically lower fees, no censorship, and redistributed value \u2013 where early contributors are rewarded for their participation in the network.<\/p>\n

Origin empowers developers and businesses to build decentralized marketplaces directly on the blockchain by making it easy to create and manage listings for the fractional usage of assets and services. Buyers and sellers can discover each other, browse listings, make bookings, leave ratings and reviews, and much more.<\/p>\n

The company has just\u00a0announced EIGHT new projects<\/a>\u00a0that will be building on Origin, including:<\/p>\n