“Share Economy” business models like Airbnb, RelayRides, and TaskRabbits have become quite popular. Such services connect customers with service providers. They essentially provide jobs for thousands of people, while reducing the service prices to just a fraction of the original cost. TaskRabbits for example, is a marketplace that connects people who need some tasks done with those who can perform it; from plumbers to delivery riders, and office personnel. The company has over 4,000 individuals bidding for tasks on their platform.
Just like the few examples above, Avatarais a blockchain-based company that connects customers and service providers. They are offering a service that is entirely new in the sharing economy field. Through blockchain, users all over the world can rent a human body.
They seek to make it possible for low and middle-income earners to virtually travel the world and get things done without breaking a sweat. Some of the current challenges associated with traveling for this category of people range from the time required to travel, the costly nature of these travels, as well as communication and language barriers in foreign countries.
The Avatara platform is available to anybody worldwide. Anybody can take up the job of being an Avatara; from a professional reporter with high-end equipment to a tech-savvy person with Google glasses, or even a regular person with a mobile phone or digital camera. A user through an Avatara can connect and see the world through their eyes, and hear as though they are physically present, even though they are not. Language barrier won’t also be a problem since there is an option for translation.
The framework is quite simple. Any user registered on the company’s platform can use their AvataraCoin tokens to access an Avatara person (someone who is in the country they will like to perform a transaction or visit). A user is then connected to the Avatara person through Skype. An Avatara person is expected to have a camera or video glasses, and this will provide a form of virtual presence for the user.
The company has been around since 2011, however, barriers in the speed of mobile communication forestalled development. Interestingly, there has been significant progress in the field of mobile communications and internet connection is now faster. This has propelled Avatara to roll out their services. They also have plans to capitalize on upcoming technologies, particularly the launch of Elon Musk’s SpaceX program in 2019, and the emergence of quantum phones.
There is little to no competition in the field Avatara is trying to enter. While other services offer sharing economy, none is yet to capitalize on human capital. Avatara is going to help low and middle-income earners explore the world at a very little cost.
They have been around for several years and there enjoy the benefit of being the first blockchain-based business to attempt this in the world. If they are able to pull through, then they could enjoy some form of monopoly.
The AvataraCoin token (VTR) is ERC20 based and is purely a utility token to be used for the payment of services within its platform. The token is distributed as follows: 60% VTR tokens go to investors during various ICO stages, 19% are reserved for bounty programs, and R & D, and the remaining 21% are to be given to founders, partners, and service developers after ICO.