Peer-to-Peer Accommodation Sub- letting Blockchain-based Platform

Abstract

This study introduces Block2Let, a blockchain-based peer-to-peer (P2P) platform for accommodation sub-letting. A systematic literature review carried out revealed that the P2P accommodation industry relies heavily on third parties. This exposes the industry to various challenges ranging from breach of data integrity to violation of user privacy, poor transparency, and lack of trust. In addition, most existing P2P accommodation sharing platforms lack adequate decision support systems to guide property sub-leasers on fair pricing and local tourism experiences. To address these research gaps, this study develops the Block2Let, a platform that combines blockchain, smart contracts, artificial intelligence, and local experiences to provide an end-to-end solution for a complete tourism experience. The platform is based on the Ethereum blockchain which ensures the security, reliability, and transparency of transactions as property details are verified, validated, and encrypted before being stored on the blockchain. Furthermore, smart contracts are employed to automate and enforce agreements between original property owners, original leasers, and sub-leasers. Also, an AI algorithm is built to predict the optimal price of properties listed on the Block2Let marketplace. This provides a guide for sub-leasers in making informed decision when bidding for a property. Finally, the platform includes local experience offers from tourism operators. Sub-leasers who make successful bids can select from such local experience packages.