About Layer Protocol
The decentralized reputation protocol for the global sharing economy, built on the blockchain.
Bad Actors Increase Service Costs in the Sharing Economy
Even the bigger players in the sharing economy today have no way of knowing a new user's value before their first transaction. Bad actors moving from one service to the next one are a huge expense in the industry, and these costs get passed on to other users through increased fees.
Today you can throw a party in your Airbnb, get a lifetime ban, and move to VRBO, Craigslist, TripAdvisor and others.
Even Uber and Airbnb Benefit From Layer Protoocol
There is currently no way of sharing user reputation data between asset sharing companies. Why would Airbnb or Uber even give away their user reputation data to competitors? While more than 72% of the US population has used at least one sharing economy service, the number for Uber or Airbnb is greatly less than even half of it, meaning there is a vast amount of reputation to be shared on all sides, and it can drive down operation costs significantly.
Sharing Economy Has Become Access Economy
The sharing economy has become an industry, where users are more after access and care less about the central provider allowing them to access the service. Users are just looking for a way to get from point A to B or a place to stay for their visit, they care less about, who is providing the access to the driver or home owner, and do not mind trying different services, but they do mind starting off fresh with limited account capabilities until a reputation has been built.
Layer Supports Sharing Economy Growth
Layer Protocol makes reputation shareable and initiates a new wave of growth in the sharing economy by focusing on the access economy. Users will be rewarded when their reputation increases and they can try new services without hurdles. Service providers drive down their operational costs when Layer Protocol decreases the amount of bad actors abusing service providers.