peer-to-peer real estate rental platform, who is interested?

[sigHash]

Hi Everyone,

I’m building a peer-to-peer real estate rental platform by leveraging multi-sig in BTC. The first version is gonna be very simple with three keys shared between host, guest and the platform acting as escrow. There are more details that I’m currently working in but I need help! Is anybody interested? Also please give me some negative feedback if you can

[hello_good_sir]

There's a couple of these services out there already, but they only work with fiat. Although, I don't see a lot of platforms that are able to fully deal with renting, and most of them are just to connect the tenant to the landlord.

The one platform that is able to manage bookings is only used for short rental periods, like when you are on holiday (for example, Airbnb).

I'm assuming it'll be a platform where the user would deposit funds into a wallet for their booking, and then for the funds to be released 2 people need to sign off? Otherwise, the person who is paying can just say no and you'll be screwed.

[sigHash]

There's a couple of these services out there already, but they only work with fiat. Although, I don't see a lot of platforms that are able to fully deal with renting, and most of them are just to connect the tenant to the landlord.

The one platform that is able to manage bookings is only used for short rental periods, like when you are on holiday (for example, Airbnb).

I'm assuming it'll be a platform where the user would deposit funds into a wallet for their booking, and then for the funds to be released 2 people need to sign off? Otherwise, the person who is paying can just say no and you'll be screwed.

Well, yeah. There is everything out there in fiat! My goal is to create an opportunity for people to earn some crypto doing short term rental.

As far as the platform goes, yes. There is gonna be multisig wallet and we the platform act as an escrow. I have built the multisig engine (needs more refinement though) and the front end and mobile apps are under development!


I need help! Can't do it alone!


For the record, this is not a side project! This is not a hack or simply a mean to satisfy ones crypto curiosity! I want to build real business at scale and bring value to people around the world! And until people, at scale, tell me they don' want it, I won't quit!

[hugeblack]

As far as the platform goes, yes. There is gonna be multisig wallet and we the platform act as an escrow. I have built the multisig engine (needs more refinement though) and the front end and mobile apps are under development!

I don't think you need a multi-sig platform if there are three parties (seller, buyer, guarantor). You can act as an escrow by receiving the money of the seller and you send the money to the buyer after the fulfillment of certain conditions or refunded to the seller.
multi-sig wallets are for more than 3 parties cases as the formula of the contract between 5 persons.

About acting as an escrow, it is about trust more than a software problem.

[DiamondCardz]

I don't think that everything needs to be multisig. If you intend to market this to the public, having a multisig system is going to add a lot of technical complexity for both the tenant and the landlord. In a lot of places, real estate rental has long since moved away from the system of cutting your landlord a check each month, and instead has changed to direct deposits and the like. Who wants to have to manually sign their rental transactions every single month and tie up their money?

The only thing that I think multisig could be useful for is holding a deposit.

[sigHash]

I guess there are many design choices that could be made when it comes to holding funds in behalf of the guest and the host.


What do you generally think of the idea as a whole? If you have crypto and you wanna travel would such service be useful to you? Or if you are a host, would you like to earn crypto this way?

[Vod]

What do you generally think of the idea as a whole?

The limitation of most buy/sell/rent platforms is the ability to search or filter.  Your tech lead should develop a plan including information tracked, fields searchable, filters/options etc and then run it by a peer review a few times.  It's easier to change things before the databases are designed.

The blockchain can be used to verify the reviews were made by people who stayed there.

A future API could even take care of payment and escrow automatically.

[sigHash]

What do you generally think of the idea as a whole?

The limitation of most buy/sell/rent platforms is the ability to search or filter.  Your tech lead should develop a plan including information tracked, fields searchable, filters/options etc and then run it by a peer review a few times.  It's easier to change things before the databases are designed.

The blockchain can be used to verify the reviews were made by people who stayed there.

A future API could even take care of payment and escrow automatically.

Yes, the discovery part is very important. We are gonna make sure we provide enough filtering and search capabilities to our community members.

Is there anything else that might give you second thought using such platform?

[sigHash]

I don't think that everything needs to be multisig. If you intend to market this to the public, having a multisig system is going to add a lot of technical complexity for both the tenant and the landlord. In a lot of places, real estate rental has long since moved away from the system of cutting your landlord a check each month, and instead has changed to direct deposits and the like. Who wants to have to manually sign their rental transactions every single month and tie up their money?

The only thing that I think multisig could be useful for is holding a deposit.

So you believe that the platform should take custody of funds on behalf of the landlord?

[DarkDays]

I have invested in several of these products before, and have been burned several times when they invariably go under.

Do you have a full team of lawyers that are well-versed in this area to ensure that your platform won't suffer the same fate?

Also, which country will you launch in first? As far as I'm aware, most of these platforms will set up a company for each property, then name investors as shareholders such that if the company goes down, they still own their share (and hence part of the propert).

Do you have a similar system in place?

[drmutz]

Hey sigHash,

I'd like to send you a private message about this project but apparently your settings are such that you don't accept PMs from n00bs.  I hereby request that you lift this constraint long enough for me to send my message.  Thanks!

[hello_good_sir]

There's a couple of these services out there already, but they only work with fiat. Although, I don't see a lot of platforms that are able to fully deal with renting, and most of them are just to connect the tenant to the landlord.

The one platform that is able to manage bookings is only used for short rental periods, like when you are on holiday (for example, Airbnb).

I'm assuming it'll be a platform where the user would deposit funds into a wallet for their booking, and then for the funds to be released 2 people need to sign off? Otherwise, the person who is paying can just say no and you'll be screwed.

Well, yeah. There is everything out there in fiat! My goal is to create an opportunity for people to earn some crypto doing short term rental.

As far as the platform goes, yes. There is gonna be multisig wallet and we the platform act as an escrow. I have built the multisig engine (needs more refinement though) and the front end and mobile apps are under development!


I need help! Can't do it alone!


For the record, this is not a side project! This is not a hack or simply a mean to satisfy ones crypto curiosity! I want to build real business at scale and bring value to people around the world! And until people, at scale, tell me they don' want it, I won't quit!

I understand it. Crypto is a much safer way of doing things in my opinion, especially when it comes to rental agreements and bonds and all that having multi sig as an option really changes things.

I get what your saying now. But the question is. Is it going to be 2 out of 3 people to sign off for the transaction to be processed. Or does it need all 3 of the parties to sign off?

Having 2 means that if both sides are happy your good to go, but having 3 means a lot more security and you get a closer eye.