Could LockTrip Disrupt Airbnb And Booking.com?

Locktrip

We are living in a world where things are changing very fast. Not that long ago, Airbnb was a little known peer to peer booking platform for accommodation. Today it is used by millions and has revolutionised the accommodation industry.

As convenient a service as it is, it is a middleman service business, which takes a commission on each booking from both the host’s and customer’s end. It is an internet business yet it’s model is centralised.

This is where Locktrip comes into play. Locktrip is a little known decentralised booking ecosystem platform for renting hotel rooms, property and all kinds of accommodation. The entire accommodation industry is a huge $500billion industry. Already Airbnb has had a huge effect on this industry in the process becoming a business valued in excess of $30billion and not owning a single property. It is a very clever business model making all its money via all the commissions it earns from all its bookings.

The reason why Locktrip has such disruptive potential is, because it offers all the services the likes of Airbnb, Booking.com, Expedia.com etc offer without taking any fees from both parties. It is a decentralised platform with no middleman. It is a pure peer to peer platform between both the host and the customer with no centralised middle entity in the mix.

The technology it employs to make this work is blockchain technology, which is what the likes of Bitcoin, Ethereum and Litecoin are built on. Bitcoin is the world’s first digital currency created almost ten years ago and has had a very big impact on the world of money by enabling people to bypass global financial institutions to make payments.

LockTrip is also a cryptocurrency with its own supply of tokens. Yet whereas Bitcoin is just for payment transactions, LockTrip offers a ground-breaking service platform in the world of accommodation as well as other kinds of travel and cultural experiences. Once more hotels, guesthouses and other hosts register their services on LockTrip and more people also register themselves on LockTrip, the other current centralised commission-charging internet accommodation services will find their users diminishing. It is still early days and this is a very new concept. It will take time. Furthermore, a better decentralised version of LockTrip could also come on the scene even though LockTrip is an early mover in this field.

It is all very exciting and I will continue to monitor its progress

 

By Nicholas Peart

(c)All Rights Reserved

 

FURTHER READING:

LockTrip website

LockTrip whitepaper

 

Are People Wrong About Snapchat?

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Snapchat has had a torrid year so far. If one were to look at the company purely within the paradigm of its financial fundamentals there is a lot to be concerned about. There is also the risk that the company runs out of money and ceases to be a going concern. One cannot rule out this likely outcome. It’s current share price certainly reflects the very bearish sentiment many have towards the company. At one point the share price recently went below $6 a share. When the company went public last year, the initial public offering price was at $17 a share. Back then the sentiment of the general public towards the company was different. There was such a frenzy around the IPO at the time that the price duly rocketed above $25 a share. Since the beginning of this year though the share price has been on a downward trajectory.

It has been the victim of a number of mishaps such as an unpopular app redesign, key influencers leaving the platform, and even, since quite recently, the number of total users slowly dropping. One of the most damaging things to happen to the company though was Instagram copying it’s key ‘Stories’ feature.

The Facebook Group is an enormous global digital media juggernaut consisting of the Facebook platform, Instagram and WhatsApp as its primary platforms. Snap is a mere minion by comparison. This is a true battle between David and Goliath. Snapchat owns just a sling and a stone whereas the Facebook Empire has Kalashnikovs, WOMDs and other state of the art weapons. On the face of it, Snap doesn’t stand a chance. Or does it?

One thing that does stand out about Snap is that it is designed and created in such a way to be the communication platform of the future. For ten years, smartphones have come to dominate our lives and they still do. But what is the next step? I am tempted to go in the direction of Smart Glasses and Augmented Reality. Google tested the waters with this earlier this decade with their Google Glass product, but it was too ahead of its time and people weren’t ready for it. The biggest misconception about Snapchat is that it is a social media company. It is not. It is a camera app.

Both Facebook and Instagram are designed in a way that is made for the smartphone. Of course people share photos and videos, but they also share written text and messages. The other social media platform Twitter, is purely text-based and relies on the keyboard on your smartphone. Snapchat, on the other hand, is made in a way that can bypass the keyboard and the smartphone. It’s Snapchat Spectacles product enables one to record videos completely bypassing the smartphone. It already has lenses that react to sounds yet earlier in August it launched lenses with speech recognition capabilities. Snapchat is often ridiculed in the media as a platform that is ‘frivolous’ (and Facebook isn’t?) and only used by fickle people. Yet when it comes to technological innovation, it is ahead of Facebook and with far less leverage at its disposal. It would be deliciously ironic if the people who are ridiculing Snapchat today begin to adopt it like everyone else in the event of a massive turnaround in the company’s fortunes. Consensus views can always radically change.

Snapchat may currently be down in the dumps on the surface, yet there is a lot going on behind the scenes that we are not privy to. You can write off Snapchat all you want today, but don’t be surprise in the event that you find yourself with a different point of view a few years from now.

 

By Nicholas Peart

(c)All Rights Reserved

Solutions Solutions Solutions

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There are many problems and challenges facing the world and no shortage of writers and journalists in the media who are only too willing to heighten our awareness of all these issues. What there is a shortage of though, are individuals finding solutions to all these issues.

Talk is cheap. Withering, junk-food grade criticism is even cheaper. I am forever bored of writing that amplifies the problems of the world without shedding at least a mere pinhole of light and solutions to these problems. This is one of the reasons why I am turned on by hearing and learning about new and emerging technologies, because more often than not they provide solutions to most of these problems. They also enable me to foresee a future that is not as dire as what is often projected in much of the media.

For example, a very real and pressing social issue in the UK is the underfunding of the National Health Service and the uncertain future it currently faces. This is a huge concern as private healthcare can be very expensive and not everyone can afford it. This is especially true across the pond in the USA, where healthcare is notoriously costly. The biggest solution I see to making healthcare cheaper, more abundant and available is the further development of new and emerging technologies. Many fear the rise of Artificial Intelligence and Robotics. But the development of both these two technologies will bring unprecedented benefits in the race to making healthcare not only more affordable (or even almost free) but more advanced too. Imagine robotic surgeons much more advanced than human surgeons – they don’t get nervous or stressed, they can analyze the entire human body at the molecular level and perform surgeries with nano precision. Already robotic surgery devices exist yet the scope for further development is limitless. Nanotechnology will play a very important role in understanding the entire body at the celular level and will be revolutionary in enabling everyone to maintain optimum health at all times without any viruses and damaged cells occurring. And all this can be managed via a digital application or chip without intervention from a finite supply of human doctors. I could go on but it is solutions like these to a current and real crisis that give hope and enable one to re-evaluate their hard wired negative perceptions of a situation.

Worried about the rising costs of education? Virtual Reality will be a huge game changer. This will be an enormous boon in parts of the world where there is a limited supply of teachers. With VR you won’t even need to physically step into a bricks and mortar learning institution.

There are many parts of the world, which lack enough of the right type of land to grow crops. Vertical farming is one of the potential solutions especially at the aeroponic level where crops can be grown simply via the nutrients in the air. It is still a technology that is very much in its infancy yet would reduce global hunger levels dramatically once it gets to a stage where it is much more advanced.

These are just a few solutions. I am no engineer, scientist or inventor, but knowing that these are very real solutions with the capacity to eradicate many of the most pressing global problems fills me with hope and optimism for the future. It sure beats being constantly fed the broken-record narrative in much of the news about how awful things are and that they are only going to get worse.

 

By Nicholas Peart

(c)All Rights Reserved

 

 

 

 

Solutions In The Age Of Job Security Decline

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This is an unpublished piece I wrote back in May 2017

Today we are living during an extraordinary time where technology is advancing at an exponential pace. The growth of the internet and powerful emerging technologies like Artificial Intelligence are disrupting industries and jobs that were once considered safe. It seems to me that the traditional Industrial Age job seeker 9-5 modal of working and job security are in decline. Replacing this is the rise of the precarious gig economy of job scraps with zero hour contracts.

Any job where the work is repetitive and/or is work where there are patterns in the tasks is most certainly at risk from potential automation. In fact the whole notion of ‘a job’ is changing. Restricting yourself to the mindset of solely looking for work is restricting yourself to a periodically shrinking pool of increasingly scarce opportunities. On the other hand, if you can move away from the mindset of a job seeker to one of a job creator or entrepreneur than you have already prepared yourself. That is the new job security.

 

Solutions for Workers in low paid Unskilled Jobs

Low paid jobs such retail and bank clerk jobs, cleaning jobs, transportation driver jobs, factory workers and all kinds of call centre and admin work etc are the most at risk from automation. In fact many of the jobs in these industries have already been automated. It is important that people in these jobs take a moment to retreat and try to understand a bit more about themselves. What are your interests and passions? What inspires you? If you have a passion, say for example, for cooking or gardening, you could start a blog and connect with people and impart some unique and sought after tips and extend this into offering a paid service like cooking or gardening classes/workshops. There are also more potential revenue streams like providing advertising space on your website especially if you have lots of subscribers and followers. You could also focus on a more specialised form of something that you are passionate about which would make you stand out if the market of the area you are focusing on is overly saturated.

 

Solutions for Professionals

Professionals in the medical, legal and financial services require more skills than people in low paid unskilled work yet it does not mean that their jobs are not immune from the potential threat of automation. As I already mentioned, it is important to understand and know what interests and inspires you as it can potentially be translated into a successful online business or project. Alternatively, if you are, for example, a lawyer working for a large law firm and you want to remain in the industry, you could start your own online law business in an area of law you are most interested in. In a way, AI will be very beneficial to the legal industry since super intelligent deep learning systems will be able to (and already are to a degree) crunch through reams of dry data and documents in far less time than a human can. This will have the added benefit of freeing up more time to work on more cases and more interesting aspects of law. Furthermore, all these new technologies will make running your own business easier, saving you both time and money.

 

Solutions for Creatives

If you are an artist, musician, writer or fashion designer etc, the most important thing is finding and connecting with your biggest and most loyal fans since they are the ones who will always willingly fund what you do whenever you try to sell your products and services. With the rapid growth of the internet and social network sites this is easier to do than ever before. All this enables creatives to potentially bypass middle agents and deal directly with their fans, meaning all profits go directly to you without any middle people taking a cut. Twitter is an indispensable social networking site for constantly networking, connecting and keeping your fans up to date with all your developments. Instagram was made for creatives and is a very powerful platform to network and showcase your uniqueness.

If you are a creative that is shy and feels uncomfortable with networking and are inexperienced in the business side of things then my advice is to find a trustworthy and experienced manager to do all the networking, promoting, funding and sales on your behalf in exchange for an agreed percentage of your net revenues.

It is very important that you are constantly connecting with your fans and making them feel a part of your creative journey, since if you ever wanted to raise funds for your projects via crowdfunding platforms such as Kickstarter, you will stand a higher chance of reaching your financial targets.

 

By Nicholas Peart

©All Rights Reserved

A World Where Everybody Is An Entrepreneur Doing Something They Love

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This is an article I originally posted on Elixtacy on July 10th 2017

 

We are currently living in a time of great technological transformations. The internet has created enormous opportunities for individuals, entrepreneurs and businesses. The most clear game changer with the internet is the direct peer to peer contact it offers with all kinds of people from all around the world. It creates a fabulous opportunity to develop an online business or project in something you truly love and enjoy. In the process, you get to directly connect with many different people finding potential fans and clients who appreciate, love and value what you are doing.

 

Moving away from old Industrial Age model jobs

Currently many people are still stuck in Industrial Age jobs. These jobs are often of a repetitive nature even if, for now, they may provide a stable income and job security. And it could be argued that many people who do these kind of jobs don’t enjoy them (even if they may pretend that they do) and do them purely for the money. Yet these are the jobs most at risk from automation. These are not just jobs in the retail, manufacturing, construction, transport and basic service industries but also high skilled jobs in the legal, financial and, ironically, even tech industries (there will come a time when AI will be able to do most of the programming/data analysing jobs and create better software than humans can).

 

Tapping into your creativity 100%

When the above scenario occurs, instead of the dystopian reality that many predict, people will have a great opportunity to develop a business or project doing something they truly love. They will be using their creativity 100%. They will have to. They will have no other choice. It will be the most important “commodity” we have to offer. The alternative option is to be part of a society of “useless people” (a most disempowering term) who constantly lament about how they used to have a solid job and no longer have it due to automation. These are people who sadly haven’t tapped into their creative resources and the immense power within themselves. Instead they fail to change/adapt and are constantly stuck in the past. A very sad state of affairs but it doesn’t have to be like this!

 

The importance of using your initiative

In our current society only a small segment of the population use their initiative. Most people are crippled by fear, anxiety and low levels of self esteem to take the initiative to start their own business or project. They are more comfortable applying for a limited and dwindling supply of jobs. But one day in the future everyone may be forced to use their initiative. Yet it will be by utilising their creative gifts to their fullest capacity. After automation has made obsolete many jobs in existence our creativity will be king and the entire global economy will be full of individual entrepreneurs and startups all utilising their creativity and operating in something they love, which even benefits and contributes to society in a meaningful way. It will be a truly pure and direct sharing economy of people interacting and transacting with their unique services.

 

By Nicholas Peart

(c)All Rights Reserved

How Artificial Intelligence Can Be Your Friend

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This is an article I originally posted on Elixtacy on July 25th 2017. I have edited the original article.

 

Much has been said about artificial intelligence or AI. Often people have talked about AI in a very fearful way as something with catastrophic and apocalyptic consequences. Even highly regarded people like Elon Musk and Stephen Hawkings have warned of the potential dangers when AI becomes highly developed and sophisticated. There is no question that AI will develop exponentially and become an enormous industry. It will greatly augment other industries and increase their productivity in unprecedented ways.

 

What about when AI becomes more sophisticated than humans?

One of the hot topics surrounding AI and the main cause of most people’s concern is, what happens when AI becomes more sophisticated than humans? Most people view such a situation as a threat to humanity and there are perfectly legitimate and rational arguments as to how AI can be a real danger to the human race. But let’s look at AI and it’s potential in a more exciting and positive way. This is a technology, which has the power to change our lives and make our lives better and less gruelling. Already there exists different kinds of AI such as the electronic calculator, speech and image recognition, or the algorithms designed for automatic language translation, spelling and grammar corrections, and the ones tech goliaths Facebook, Google and Amazon use to create our daily news feeds and recommendations respectively etc. The Siri function on your Apple iPhone (or Amazon’s Alexa) is a very embryonic form of the ‘virtual assistant’ type of AI, which will grow and develop at an exponential rate. At some point in the future this kind of AI bot will be your 24/7 multi task virtual assistant, which you’ll be able to have intelligent two way conversations with about virtually (no pun intended!) anything. Based on all your digital data and spoken words, it will help you make all your decisions for you. This virtual assistant bot will help you with all kinds of issues whether they are legal and financial queries, relationship problems and generally try to help you to organise your life and make it more efficient and productive. A SMART Life! In some ways, it could be said that the future of the traditional Google Search engine, where you type what you are looking for, is ‘voice search’. Existing and continually developing search engine algorithms incorporating increasingly sophisticated speech recognition functions will develop into super smart virtual assistants where all quieries are answered and specific links and information to those quieries is provided through the already substantial amount of data and content on the net.

 

Job automation

People fear that AI will speed up the process of job automation and eventually make all jobs obsolete. This will happen yet it will happen to all Industrial Age, repetitive jobs with little to no creativity. Instead of being fearful, people should be happy. I mean do people enjoy repetitive, humdrum and uninspiring jobs? In our current culture there is this incomprehensible and irrational obsession with work; but work of an often soul destroying kind and not work that people enjoy and which can benefit and change society. AI will eventually automate all forms of repetitive and uncreative work and in the future people will be working far fewer hours.

 

A Post-Work society and why our creativity and ideas will be king

AI in the distant future will lead to a type of Post-Work society. Yet in these times people will be finally free from monotonous work and will likely be engaging and harnessing their creativity and ideas in doing something they love. Rather than being a threat, AI will be an indispensable and invaluable resource, which will augment, complement and greatly benefit our levels of creativity and ideas and help us to realise with the best results whatever we want to achieve. AI will greatly enhance our creativity and generation of ideas and help us to tap into them in unimaginable ways. And best of all, it will all most likely be free. No need to set aside money for expensive lawyers, financial advisors, planners and accountants. Or even software developers and digital data analysts and marketers. AI will be able to serve you in all these areas at no cost.

 

By Nicholas Peart

(c)All Rights Reserved

Low (to no) cost high strength satellite internet for every corner of the world

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Ever wondered if there would come a time when every corner of the planet, both on and off land, would be connected to the internet? Elon Musk wants to do just that via a satellite internet network called Starlink as part of his ambitious Space X project (founded in 2002 to further develop space technology and create the conditions for people to live on other planets). Musk plans on launching a Low Earth Orbit (LEO) broadband “constellation” of satellites, which would beam down high speed internet to every part of the globe. Space X is scheduled to start launching these satellites potentially in 2019 and hopes to have all the satellites in orbit and everything complete by 2024.

Musk’s project is not a brand new thing. A 1990s company called Teledesic along with two other companies, Iridium and Globalstar, tried to build a commercial broadband satellite constellation. Yet these companies didn’t succeed and Teledesic suspended its satellite construction work in October 2002. These companies were maybe too ahead of their time, but with the expansion of the space industry over time as well as the advancement of space technology development as more money continues to be invested in it, Musk’s Starlink satellite constellation has a higher chance of succeeding.

 

The end of cell tower network telecommunications companies?

Over half of the world’s population has internet access and some device to access the internet with, most commonly a smartphone. Yet most people still rely on assorted telecommunications companies to call and connect to the net. Telecommunications companies are still needed as long as their are landline connections, but with the world constantly becoming increasingly mobile and with so many people completely bypassing landlines for smartphones (especially in developing parts of the world where it’s cheaper to buy an inexpensive smartphone or dirt cheap cell phone than install a landline), the services provided by traditional telecommunications companies could potentially be bypassed if Elon Musk’s Starlink satellite internet project really does take off (no pun intended). For now we need these telecom companies as they still provide us with the essential connectivity infrastructure, yet unless they match or better Elon Musk’s ambitious satellite plans, they could encounter huge challenges. Free public internet in assorted public spaces via normal on the ground cell towers is always increasing across the world. Fast developing countries such as India already have free internet in many railway stations across the country (thanks to Google).

 

Wi Fi from balloons and drones

Google and Facebook both tried to solve the challenge of internet for the entire world. Google tried this via their Project Loon project (“cell towers in the sky”) which via mobile cell towers connected to hot air balloons they tried to connect remote parts of the world to the net. However the problem was that sometimes the balloons would not last in the sky and would soon come crashing down to earth. Facebook tried to solve this via internet powered drones flying above parts of the world lacking internet infrastructure. SpaceX’s project seems the most ambitious yet in solving this challenge.

 

No need for multiple networks and SIM cards to provide your roaming

If every part of the world is connected to the internet via Space X there could be potentially almost no need to use the services of traditional telecommunications companies (This is, of course, not only dependent on Spacelink succeeding, but on decreasing costs of sending satellites into space). It is always a pain to change SIM cards whenever travelling to a different part of the globe. Even if there are a clutch of competing online telecom startups offering SIM cards that can be used in almost every country and traditional telecom companies are offering services where existing national SIM cards can be used in many other countries (though often at high costs), it is still a rather cumbersome way of connecting the world when one considers all the future possibilities. Sending satellites into space may currently be vastly expensive but as more companies tap into the very nascent space industry and the technology to explore and enter space improves and becomes cheaper and safer, costs for satellite powered internet will go down dramatically. Hopefully Musk’s ambitious project will set a new bar for others to follow suit and maybe even match or better what he is doing.

 

The end of mobile numbers for instant connectivity

With access to a super fast public internet connection wherever you go in every part of the world, there is no need to even have your own mobile number (even if online video/messenger services like WhatsApp still require it – for now) and anyone from any part of the world can instantly connect to each other. This provides the ultimate instant connectivity transcending all networks and other connectivity services. I suppose with Facebook being the social media site with the highest number of users at close to almost two billion, it’s Messenger service is the closest thing for over 25% of the world to instantly connect and communicate with one another without a mobile number and only an internet connection.

In the wake of this it is crazy to think that for far too long we have relied on a plethera of large global telecommunications to provide us with our daily connections. Of course at this moment, the infrastructure provided by these telecommunications companies are still vital for our daily connectivity and on-the-go roaming. Yet Space X’s Starlink satellite project has the power to revolutionise the way we all connect if most if not all of the world has a state of the art internet connection. Having the entire world connected to the internet you have the quintessential Smart World of every corner of the world connected to the net. What’s more there’s a parity in terms of connection with everywhere having an equally super fast connection. This also has the potential to dramatically speed up the development of developing/undeveloped nations.

 

By Nicholas Peart

©All Rights Reserved

 

Other useful links…

https://edgylabs.com/spacex-satellite-network-soon-to-be-named-starlink/
More info on Space X’s Starlink project

Video link below illustrating Space X’s plans to establish satellite internet for the entire world…