One of his companies, Torbit, was acquired by Walmart Labs in 2013. Fraser founded three venture-backed companies before starting this one. Josh Fraser and Matthew Liu are the co-founders of Origin Protocol, which is based in San Francisco. This is especially pertinent in light of the fact that Uber and Airbnb have been banned or heavily regulated in cities all over the world and these companies have banned individuals from ever using their marketplace. Origin Protocol seeks to create a technology and community that lowers these fees, increases innovation, encourages the free exchange of customer and transaction data, and decreases censorship and unnecessary regulation. In addition, the success of current giant shared economy platforms such as Uber and Upwork may decrease their incentive for innovation. Another disadvantage is that current marketplaces have arbitrary rules and censorship and can easily ban users from using accounts for any reason whatsoever. Origin Protocol, on the other hand, views open data as necessary for trust and transparency. For instance, current marketplaces do not allow users to own and control their data. In addition to high transaction fees, Origin Protocol sees other disadvantages in the current shared economy marketplace. Origin Protocol aims to eliminate the intermediaries involved in the share economy and replace them with new marketplaces for buying and selling assets and services.Ĭurrent shared economy marketplaces incur high fees for sellers The platform fees from these transactions are calculated to be around $40 billion. Transactions from these marketplaces are expected to hit $335 billion by 2025. The shared economy, or gig economy, is quickly gaining more popularity, with more and more marketplaces such as Uber, Airbnb, Doordash, GetAround, and TaskRabbit. The Idea and the Team Behind Origin Protocol ![]() ![]() Origin will allow transactions between participants in the shared economy and major players such as Airbnb, Fiverr, TaskRabbit, Uber and Upwork without the need for an intermediary. Origin Protocol’s goal is to deliver a decentralized marketplace on the blockchain for participants of the shared economy.
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