KYC passing required No | Whitelist No | Restriction for countries No
Emphy search trends in Google
TABLE OF CONTENTS
What is Emphy
Availability of technologies
term lodging industry is prosperous right now and at the moment it
s valuated at
$100 billion with growth forecast of 168 billion by 2019
. There are no signs of growth
slowing down on the short
term lodging market and in the coming years it can seriously
take on the traditional businesses, such as hotels, motels and even hostels.
Distant countries with their culture, exoticism and rich traditions have always attracted
tourists from all over the world. However, often traditional travel planning methods are
not available for these locations. The reasons for this are the lack of house sharing
traditions, security problems, low level of computer skills among the older generation,
as well as technical limitations, such as the lack of necessary information and the ability
to accept non
cash payments. Thus, such a journey becomes a rather dangerous and
unpredictable gamble, an alternative to which can only be tr...
WHAT IS EMPHY
Emphy is a decentralized ecosystem where landlords and tenants meet to conclude
term real estate rental contracts .
Blockchain combined with smart contracts will eliminate the dependence on the
centralized system between the participants of the transaction, and will significantly
reduce the commission and help fixing the terms of the agreement (booking and
general conditions) between the owner of the property and the guest. Emphy provides
innovative approaches, openness, convenience and ease of use. The platform will raise
the technology and the process of short
term renting to a new level of development.
The ecosystem will be of interest to landlords, who are engaged in offering real estate
properties (rooms, studios, apartments, houses, etc.) for short
term rent, as well as to
the guests. Emphy will create the most comfortable and clear conditions for all platform
users for achieving their goals. All users of Emphy ecosystem pass...
Emphy ecosystem most closely matches the expectations of young people of
generation Y: more adventures, exciting experiences, fewer formalities and pre
routes. In the modern world, most travelers choose the idea of 'hand luggage' and full
flexibility of movement without burdening themselves with limitations. Having a
smartphone and access to the Internet, the traveller and the real estate owner will
always be able to negotiate and conclude a smart rental contract, and also to make a
payment transaction among themselves. It is convenient, simple and reliable for both
parties. The use of crypto currency in the transactions along with traditional methods of
payment significantly expands the possibilities for both sides.
Generation Y (Millennials)
a generation born after 1981, met the new
millennium at a young age, characterized primarily by deep involvement in
digital technology. And for this generation traveling is one of life's priorities,
In the current situation on the short
term rental market, misunderstanding often occurs
between the property owner and the guest. This is primarily due to the fact that the
property owner does not publish full information about the property. As a result, when
the guests arrive, they may be very disappointed. We cannot change the human factor,
but we can improve technical and technological factors and through this make the
market as transparent as possible.
The main problems faced by property owners are the difficulties associated with
increasing occupancy of facilities by guests, high commissions, security problems, trust,
difficulty in billing and linking the transactions with bank cards, as well as difficulties in
obtaining the feedback and positive ratings. The real estate owners do not have the
ability to fully show the property on a simple photo the way it looks like in reality, and
because of this, sometimes they face problems with the guests. This understatement...
In the modern world, already half of humanity are active users of the Internet, almost
the same number of people use mobile Internet (46%)³. North America and Europe
remain the leaders in penetration of the Internet among the population, 88% and 84%
respectively. Among the regions with the least accessibility to the network can be
identified Africa (29%) and South Asia (33%)⁴. In quantitative terms, the situation with
active users is quite different. Leading positions here are East Asia (923 million), South
Asia (585 million), Africa (362 million), followed by Western Europe (353 million) and
Southeast Asia closes the leaders top five (339 million)
The main driver of such growth is the spread of broadband mobile Internet and its
affordable price for the local population. The data for January 2017 show that half of
the world's web traffic is via a mobile phone and this indicator has an upward trend
absolute numbers in East...
LOW COMMISSION FEES
Existing platforms, which are intermediaries in the renting process, take a fairly high
percentage as a commission. Now short
term rental market average total commission
(combined commission for guest and landlord) are in the range of 9%
. On the
Emphy platform, the total commission fees will be 4% (2.0% paid by the guest and 2.0%
by the landlord). Thus, we will be able to provide better and more innovative services,
and reducing commission 2
3 times at the same time.
THE INCENTIVE SYSTEM OF RATINGS AND BONUSES
Slightly less than half of active Airbnb listings have rating (47%), but of those who have
it, almost 60% have a rating of 5 out of 5. 89.3% of rated landlords have a rating of 4.5
Emphy offers a system of bonuses that guests and hosts receive for making certain
actions in the system: an identification process, a detailed description of the home,
IMPROVED SECURITY MEASURES
In order to provide additional security and increase the level of loyalty and trust
between the guest and the host, when the guest checks in, host gives the guest the
keys and uses the application in his phone to scan the QR code from the guest's phone
screen. Thus, the owner receives confirmation that the person who made the booking is
in front of him. Also, this action is registered in the system as a check
in. After that, the
rent fee for the first day of placement is transferred from the temporary deposit wallet
to the host's wallet, and then transfers are made every day for the day ahead.
At the time guest departures from the apartment and returns the keys to the owner, it
is possible to repeat this process, confirming the check
out to the system.
AUTOMATED IDENTITY VERIFICATION
According to the LearnAirbnb.com report, almost half of the owners (46.5%) did not
have a confirmed ID
. Completely authorized hosts receive a...