Lockbox: Now Open to the Public!
Lockbox: an automated local sharing economy
We’re currently running a shared VR arcade. Startups at our coworking space crowdfunded a VR arcade, secured with a bluetooth smartlock that these funders could open with their smartphone. Reservation credits were distributed every week, allowing funders to freely use their share of VR.
Yet until now, only original funders could open the lock. Guests had to request an owner to make a reservation on their behalf.
Now: anyone can pay to make a reservation to the shared VR arcade.
Yet what happens next is even more amazing 🤯. After a guest pays with euro to make a reservation to the VR arcade:
- That euro is immediately converted into stablecoin*, which is then sent into a smart-contract.
- This smart-contract holds and distributes the stablecoin to the original crowdfunders of the VR arcade. Everyone gets their fair share.
- The crowdfunder can withdraw as stablecoin or euro.
*We’re currently running on testnet, using fake tokens as placeholders for euros held in our bank account. We are switching to stablecoin upon our first pilot.
What does this mean?
We’re at the beginning of something new. A group of people can reduce the cost of whatever they want by sharing it, by using an app that simplifies administration:
- crowdfund the money needed to buy it
- keep track of who owns pieces of it
- you use it for free and you get paid when guests use it
All of a sudden, your social capital just became a lot more relevant. Your influence and social networks become tangibly relevant in the real world. The cost of an item is no longer it’s price-tag alone, because now it can be divided by the number of people who want to use it.
This means we’re ready to move to essential infrastructure.
The shared VR arcade will continue to run. It’s our live sandbox to iterate the platform using life feedback. In the meantime, we’re shifting our focus to solar panels ☀️.
Continue reading about our upcoming launch of Solar Share 👇