In 2018, the team delivered a range of digital solutions for a shared workspace project with offices in Amsterdam, Berlin, London and NY.
At that time, the project was building a digital-analogue for community membership mechanism based on its own utility token which grants access to shared workspaces. Tokenisation is the proof-of-ownership method which certifies ownership, existence, integrity and authenticity of any digital asset. Blockchain enables this certification through its decentralised nature and ready-to-use infrastructure. The general business advantages of this model include initial product funding, services can be bought and used with tokens, and members can earn rewards by renting out their tokens.
Lack of flexibility for the end user and high prices of traditional models
We discovered, designed and developed the overall hot desks and offices booking process based on tokens, as well as designed related-services for two types of personas: token owners and people who don’t have tokens.
The platform lets you lease and book coworking spaces using Ethereum or ERC20 PBT digital tokens via a special matching algorithm, which automatically provides bookers with the best price. The booking platform allows members — token holders — to lease out their tokens (memberships) when they are not using them. The leasing function allows anybody who owns ETH to lease a desk in one of the network of shared workspaces through a booking platform.
During the discovery stage to introduce the solution, we found out that token owners value the security of having their own digital asset, trust as a result of security of an asset in their own pocket, benefits provided by the utility, zero downtime on his or her asset, and the opportunity to engage with like-minded people who understand the concept and believe in tech decentralisation. People who don’t have tokens value more general things related to coworking like price, infrastructure and community, and not having to deal with any admin, deposits or notice periods. It is also completely secure, as tokens can’t be leased out to more than one person at the same time, and the person who is leasing it cannot assume full control of the token.
Prices are set by token holders. This creates a competitive pricing system that ensures bookers get a fair rate when booking.
Members own secure digital tokens, which can be transferred on a temporary or permanent basis with a minimal transaction cost.
The tokenised membership model means anyone can lease out membership and earn passive income.
Booking per day number is increased
Increases number of token owners who registered on the platform
Cost savings from reducing the time for coworking-operator processes
Support requests number decrease
Tokens usage increase