Uber is dead: Thanks Bitcoin.

RIP (2008–2018)

Digital Lawrence
Jan 26, 2018 · 8 min read

Uber?

Airbnb?

Facebook (Really? We’ll get to that later..)

What’s that other one? Who even remembers..

So we get it, Uber changed the game and now its normal to hop into Stranger Todd’s backseat on the way to the pub.

And, Airbnb made people comfy with having strangers spend the night in their guest-room. People made money, some made a little money and some made A LOT of money. How much money exactly? Let’s see how big this sharing economy really is:

So the sharing economy $15 Billion market in 2013, and estimated to be $335 Billion by 2025. Interesting.

Where’s all that new capital going and who is receiving it? Well, for all the benefits and wins in the sharing economy for the “sharers”, there is no doubt that the real winners of the sharing economy are the companies’ owners and investors.

A lot of the population think that “sharers” are just your local college buddy who is making a few extra dollars Ubering on a Friday night, or crazy Carol letting people stay in her guest house two nights a month. But, now a days, there are full time “professional sharers” now.

I know a few full time sharers, and they love the freedom. Sure is driving people around ALL DAY always exciting? No, but it beats having a boss like Bill Lumbergh.

The founders of Uber and Airbnb are now billionaires, and they have forever changed the world and given millions of people a chance to make money on their own terms. But does it end there? Can these sharing companies improved? Conflict at their companies, and poor leadership decisions have taken a toll on the largest and arguably the most important and iconic sharing company in the world, Uber.

Uber CEO Travis Kalanick is taking a leave of absence from the company

What does this mean for the Sharers, when the parent company is in turmoil? Uber has been repeatedly caught using deceptive practices against competitors, under constant investigations for sexual assault claims, and lowering the rates it is paying drivers drastically. Bad news for everyone involved. The problem is, sharers can’t just leave and carry their 5 Star rating from Uber to another platform if the whole ship sinks.

The problem with the sharing economy, and how it’s currently setup is that the wealth and power isn’t shared, and its almost completely centralized by a few faces and a handful of companies.

Most people don’t realize its already been a decade since the sharing economy has been invented. Things move quickly., because it it seems like just last year I got into my first Uber.

The next part of the sharing economy are platforms like Facebook, but not in the traditional sense. We all know you share things on Facebook, and use their platform on a daily basis, but how many people have actually made a dollar from the hundreds of hours they have spent on Facebook? Meanwhile “Marky” Mark Zuckerberg made billions.

I’m rich bitch.

Sure, maybe he deserves it for changing human history forever? But remember, if a product is free, then you are the product. For every photo you share, Facebook shares your data with an advertiser to make money for them. So, is it a fair exchange? Not for me to decide, but I will say that Facebook’s treasure trove of data is very impressive and I have used their targeted ad platform to great success before.

So that leaves us where?

Why is Uber dead? And who killed it?

Bitcoin killed it..

What? How did Bitcoin kill it?

Well Bitcoin was the invention of Decentralization. Well maybe not the first decentralization concept, but maybe the first decentralized money or currency, or store of value whatever you want to call it.

Bitcoin and blockchain is really cool. It allows you to transfer wealth or value, from person to person outside of any banks. So what does that mean for Uber? Well, like how Bitcoin transactions are recorded in a distributed public ledger, the new wave of the sharing economy can utilize public ledgers and protocols to share data effortlessly across platforms with trust.

Now imagine, all of a sudden, if there was an Uber competitor, whose database or “ledger” of trip data, was open-source and available to the public through un-alterable database.

So hypothetically, this distributed and public ledger would lower the cost of hosting and storing the data. Which means, the gargantuan data costs Uber has to deal with would disappear, and those savings would be passed onto the rider and driver. You can use this scenario for AirBNB, or Taskrabbit as well. Also, last but not least the credit card fees would disappear as well, and that means billions in saving a year.

So this sounds like great news for Uber, right? Lower costs for users and more profit for drivers right? Win win? Not necessarily, you see Uber can pivot into a decentralized company — but what would happen to its shareholders profits?

And Facebook, what happens if there was a product similar to Facebook, but you get rewarded in digital tokens for great content. And later these tokens can be exchanged for USD, and instead of ads you can actually be rewarded for your great content. 1 like = 1 likecoin :P

Well, you won’t have to wait too long for this to happen, because it’s happening and that’s where the sharing economy 2.0 enters.

You see there are already projects in development that are launching in the next year, while others are already available. Take Steemit for example, it is an almost exact clone of Reddit — except I make real money for each upvote! Pretty cool — see below:

Top Post of the Day made $1,600! Is this the future of the internet?

The next project I want to talk about is Odyssey (You can hop in the community chat on Telegram here). They have an ambitious goal, led by Yi Shi check out his Twitter profile — it’s pretty impressive.

So, what does Yi want to do now? And what is Odyssey?

Odyssey: The Future of Decentralized Sharing Economy

Odyssey completed a successful ICO earlier this week, raising over $50M which they will use to fund development costs for the Odyssey Protocol.

See their roadmap below:

One of the first implementations will be with Obike.

What’s Obike? If you’re from America you might not be too familiar with the service, so here’s is a quick description:

Obike, will be the first platform to Utilize ocoins ($OCN), and they just launched a partnership with Grab.

https://www.techinasia.com/grab-obike-partner-up

For its part, oBike would gain exposure to millions of Grab users in Southeast Asia — Grab handles more than 3.5 million transactions per day and a billion a year. It can also tap into Grab’s existing network of partner-drivers for its newly launched delivery service.

Delivery service: that’s where things get interesting. The founder at the Tron Foundation, Justin Sun tweeted this the other week:

https://twitter.com/justinsuntron/status/953019014120222720

So think Uber Eats for Asia, with 40 million users paying in a cross platform decentralized digital currency called OCoin (OCN). Things just might get interesting..

Geofencing in action on the oBike app. Photo credit: oBike

Will this new decentralized protocol named Odyssey spur many other decentralized platforms? Will it be able to unseat other giants like AirBNB and Facebook? Hard to say.. but some people are betting big on it. Some big people may I add, like:

Vision+ Capital, one of China’s most renowned investors (founded by Alibaba Co-Founder Eddie Wu, led by top talented partners from Temasek, Qiming etc.)

Alibaba co-founder Eddie Wu? Nice

Another big blockchain partnerships as well:

Is Uber dead, let’s just see how 2018 plays out :)

Hope you enjoyed.

To dive deep into the community you should join the Telegram now!

You can now trade OCN at https://KuCoin.com

Digital Lawrence

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I bought #crypto. Building @FomoHunt