Digital currencies becoming killers for Airbnb and Uber.

Simoni797

"Ride-sharing providers like Uber are facing a challenge in Europe due to a recent opinion from Maciej Szpunar, the Advocate-General of the European Court of Justice (ECJ), who stated on May 11 that the company is, in fact, engaged in the transportation business rather than its claimed role as an information society service platform. While there hasn't been a clear judgment yet, it is highly likely that judges will follow this opinion.

Uber's business has faced setbacks in recent years, but that's not its only concern. Its dominant position in the digital marketplace will face impacts and challenges brought about by digital currencies. Similarly, international lodging booking website Airbnb, which operates on a centralized platform, will not be immune to these challenges in the ""sharing economy.""

Both of these companies operate on centralized platforms with users worldwide, which have brought them billions of dollars in revenue. However, this business model has also raised complex issues related to taxation and labor rights.

Changing this business model while maintaining a level of trust in services, even when problems arise, may be the next crucial step in the sharing economy.

The vision of a decentralized sharing economy has led people to view digital currencies as a major driver behind this niche movement. Aaron Wright, the director of the Cardozo School of Law's blockchain project in New York City, believes that the cryptocurrency wave is still in its early stages.

Bitcoin, the first digital currency, emerged eight years ago, and its value has experienced significant fluctuations over time. Despite internal turmoil in the Bitcoin community, its price had recently surpassed the price of an ounce of gold.

In fact, not all digital currencies are the same; they have unique features. For example, Dash and Zcash focus on privacy, while Ethereum (ETH) is used as application fuel. However, they all have one thing in common – they are built on blockchain technology.

Blockchain stores information over a peer-to-peer network, meaning no single company, government, or individual can control the system. Information on the blockchain cannot be tampered with, yet anyone can run it.

Bitcoin is currently the most popular digital currency in the market, but with the emergence of Ethereum, the landscape is changing. Ethereum can be considered Bitcoin's primary competitor at the moment.

In its current developmental stage, Bitcoin primarily serves as a Transfer of Value, while Ethereum, in addition to value, can transmit any form of information, making it a powerful advantage.

Walid Al-Saqaf of the Internet Society (ISOC) in the United States stated:
It (Ethereum) has given people a whole new understanding of what ""cryptocurrencies can do.""

Ethereum is often described as a decentralized global computer that can run programs and facilitate the exchange of information and value."

Shri333

It's a bit challenging to determine whether Uber falls under the category of transportation or information society services.

Niti998

Bitcoin has been around for eight years; time flies.

Indra55

The development of cryptocurrencies has been rapid, and it's hard to keep up with them now.