Move Over Uber: Blockchain Technology Can Enable Real, Sustainable Sharing Economy

BitsPlan

Uber and Airbnb, the hugely popular marketplaces for taxi-like car rides and hotel-like short-term rentals, are usually considered to be successful case stories for the emerging “sharing economy.” Another buzz phrase, “people as a services,” describes the business models of these two companies, both of which attracted funding that values them in the tens of billions of dollars and are likely to become the instant darling of investors after their expected and much awaited Initial Public Offerings (IPOs).

A new paper, however, titled “Blockchain as an Institutional Technology Spearheading an Equitable Exchange Economy,” written by economists at the Centre for Blockchain Technologies at University College London (UCL) and The Impact Institute, challenges Uber and Airbnb as sharing economy role models. In fact, according to the authors of the paper, the “platform revolution” represented by these two companies, as well as similar companies such as Etsy and Lending Club, works to enrich the platform owners while preying on the value creators.

At the same time, the authors, Paolo Tasca, a Director at the UCL Centre for Blockchain Technologies, and Mihaela Ulieru, President of The Impact Institute,

Read more ... source: Bitcoin Magazine