Cryptocurrency space has always been strongly community driven, with Bitcoin (BTC), XRP, Tron (TRX), and Bitcoin Cash (BCH) having some of the most active communities, to name a few. Now, the mainstream companies like Airbnb is asking SEC to allow the company to issue shares to its hosts just like Uber has approached SEC multiple times previously.
It’s all about community
Recently, in a letter to the Securities and Exchange Commission (SEC), the travel company Airbnb has asked to allow the company to start issuing equity in its company to the hosts.
Brian Chesky, Airbnb CEO shared in a statement to a media outlet,
“Airbnb is a community-based company and we would be nothing without our hosts. We would like our most loyal hosts to be shareholders, but need these policies to change in order to make that happen.”
The letter by Airbnb to the SEC mentions:
“Airbnb believes that twenty-first-century companies are most successful when the interests of all stakeholders are aligned. For sharing economy companies like Airbnb, this includes our employees and investors, but also the hosts who use our marketplace to list unique accommodations and experiences. As a sharing economy marketplace, Airbnb succeeds when these hosts succeed. We believe that enabling private companies to grant hosts and other sharing economy participants equity in the company from an earlier stage would further align incentives between such companies and their sharing economy participants to the benefit of both.”
A company like Airbnb which relies heavily on the hosts to open their homes to its users can maintain the loyalty of those hosts by giving them shares in its company. It will further work as a way to compensate for these hosts.
However, it is not the first time, previously Uber has met with SEC multiple times to discuss the same request.
Crypto space is strongly community-driven
The mainstream companies might be starting to realize the importance of a community recently, but the cryptocurrency space has been following it since its inception. In fact, crypto is heavily focused and driven by communities.
As shared by crypto enthusiast Kevin Rooke:
A platform is nothing without a community.
The crypto world understands this [see “shitcoins”, circa 2018].
The rest of the tech world is starting to understand too.
Airbnb and Uber both asked the SEC to share equity with their hosts and drivers.
Your community is everything. pic.twitter.com/vmPNE45YyV
— Kevin Rooke (@kerooke) September 24, 2018
Every digital currency has its strong community of supporters that are heavily invested into spreading the word about it, defending them to the extremes and sometimes even known for going overboard. A few of the most active communities are of Bitcoin (BTC), Bitcoin Cash (BCH), XRP, EOS, Tron (TRX), Monero (XMR), and VeChain (VET) among others.
The world’s leading cryptocurrency is surely among the top with its supporters so much so Bitcoin maximalist is also a term this community is intimately familiar with. Meanwhile, XRP and Tron (TRX) have one of the most active supporters.
With each passing year as cryptocurrency culture and space grows on, community enthusiasm and support are only increasing.