The biggest challenge and hidden danger of smart locks is security.
For the hardware part, the cylinder in the lock allows the locksmith or thieve to open the door lock easily, it is just a matter of time, depending on the grade of the cylinder. For the software part, a central door lock management system means that once the server is hacked, hackers will acquire the control rights of all the door locks at zero cost. This would be a catastrophic event.
PopulStay, however, developed the world's first genuine, keyless, blockchain-based smart lock and its associated chips.The door locks are managed through a smart contract. The owner of the door lock can determine, who can use the door lock and access the property during which period, and the user of the door lock needs to confirm the transaction of the door lock with a smart phone and gets authenticated first.
We are convinced that smart locks will revolutionize the sharing economy and even become the infrastructure for the future economy.
Popular vacation rental or home sharing platforms established trust by being the dependable middleman to connect the host and guest. Using the blockchain technology, the decentralized platform is able to connect host and guest with transparency, fairness and trust without the need of middlemen and the hefty transaction fees they charge.
Publishing a listing on our platform takes less than ten minutes, but operating a listing takes efforts. In order to make it hassle-free, we integrate qualified third party providers for cleaning, key exchange, professional photo shooting, interior design and dynamic pricing to work for you in a decentralized and autonomous way.
Host and guest payment, guest dispute, additional service fee, property management fee – all these payments are defined my smart contracts. No manual override, no cash payment for booking. More trust and more efficiency.
Communication through our platform becomes as easy as it could be by connecting host and guest through call or video chat within seconds. This way allows the parties to clarify questions or take a live view of the property. By connecting to each other the platforms tokens are used and automatically deducted.
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