It looks like blockchain technologies are enjoying great interest from almost every sector of the economy. We are not unfamiliar with cases where two or more companies join forces in order to develop a new service or implement distributed ledgers to their business.
It looks like blockchain technologies are enjoying great interest from almost every sector of the economy. We are not unfamiliar with cases where two or more companies join forces in order to develop a new service or implement distributed ledgers to their business. The most recently formed partnership is the one between Bee Token and We Trust.
The two blockchain startups are based in San Francisco. They aim to create a decentralized Airbnb-like platform. Bee Token is a short-term housing rental startup and WeTrust provides a financial services platform. Their goal is to design a system, which serves as a decentralized insurance layer. Or briefly said, all deposits would act as a financial buffer for both guests and hosts. This way every host or guest listed in Beenest platform is going to be financially protected, Beenest is owned and managed by Bee Token.
The plan of the companies includes a shared network where users’ information is easily obtainable. For example, people would be able to check the trustworthiness rate of every host or guest. Hopefully, the new project will reduce the insurance costs paid by the parties. Both startups are forming a kind of a residential-focused sharing economy, which will bring down the prices of insurance against property damage.
The chief executive officer of WeTrust, George Li expressed his enthusiasm on the collaboration with Bee Token. According to him, both companies will benefit from each other and will demonstrate the advantages of their platforms. WeTrust hopes to establish itself as a trustworthy processor of decentralized insurance services.
At the same time, Beenest has its own cryptocurrency – the BEE token. Currently, a $10 million presale is in operation while the initial coin offering will take place at the beginning of February. The co-founder of Bee Token, Jonathan Chou, was caught saying that Beenest would support crypto payments. If that is to happen, users would have the opportunity to pay for their accommodation with digital tokens.