ODYSSEY is on a mission of building a state of the art, decentralized sharing economy via implementation of a peer-to-peer ecosystem.
ODYSSEY is here to ensure that the sharing economy we all know and love today blossoms from its current centralized state (Uber, AirBnB, etc.) into a decentralized masterpiece. The shift towards decentralization will decrease operating costs. It will boost ROI for service providers and it will increase the marketplace efficiency.
Or so say the developers of ODYSSEY in their whitepaper (which is particularly hard to find by the way).
The team at ODYSSEY fights a battle against a very particular “evil” – the data controllers. Many the sharing economy companies are gathering, storing and using personal data at will. Companies like AirBnB, Uber, etc. require their users to trust them with sensitive data like email addresses, phone numbers, and such and these companies themselves choose what to do with it.
Not only that, but the core mechanisms or current sharing economy businesses are rating-based. These “ratings” may be biased as they are based on the algorithms any given company chooses to implement.
While the abovementioned is, without a doubt, an outstanding business model, it only brings the market closer to monopolization by certain players. Monopoly leads to higher margins. Higher margins lead to an increase in operations costs for sharing assets providers. Increased operations costs lad to a higher price of the shared assets. As a result, everyone in the chain loses, except the monopolist.
ODYSSEY is here to change the rules of the game.
ODYSSEY offers a solution in the form of a blockchain-based peer-to-peer sharing ecosystem that eliminates the need in a middleman. The ecosystem stands on three whales: Providers, reviewers, and consumers.
Another benefit of ODYSSEY is unification. Consumers will not be restricted to certain services that offer certain goods. There isn’t a reason for the separation between a taxi service and a bed-&-breakfast service in the blockchain. Ergo, this separation will no longer exist.
ODYSSEY aims at building an effective mechanism for the stimulation of their economy. For starters, 100% of the profits generated from a service will go to the service provider. Secondly, there are additional rewards that are directly linked to the provider’s rating. The higher it is, the higher the earnings.
Same can be said about engagement with the consumers. They too are rewarded based on their rating and the frequency of using the services.
Such an approach works well. Today the OCN is traded on major exchanges. Its market cap is $49,671,451 and the daily trade volumes exceed $1,700,000. The total supply of OCN caps out at 10,000,000,000.
There isn’t too much we can say about the team other than the guys at ODYSSEY have 2 good advisors. The first one is Justin Sun from Tron coin and the second one is YI Shi, the CEO at Avazu Holding.
ODYSSEY has a decent idea and a proven technology to back it up. The market has a need for their kind of decentralized peer-to-peer solutions.
That being said, we find it peculiar that their own website is highly uninformative. We were forced to compile this review based on data from various sources from all over the internet. Not even the team nor the whitepaper are featured on www.ocnex.net. Why?
