Blockchain Startups in San Francisco to Team up With Decentralized Insurance

Two blockchain startups in San Francisco are partnering to create a kind of decentralized Airbnb.

Financial services platform WeTrust and short-term housing rental startup Bee Token are cooperating to develop a “decentralized insurance layer based on crowdsourced security deposits.” The deposits will be kind of a financial buffer for both financial services platform as well as guests.

The two startups are going to connect with one another to share information about platform users. The idea is that the two companies will be able to open an access to a residential-focused sharing economy.

Bee Token’s platform has its own BEE token, which was just the subject of a $10 million presale. A public token sale begins at the end of this month.

Bee Token co-founder Jonathan Chou suggested in a recent interview that the platform would serve those, who are involved in cryptocurrency trading.

Jonathan Chou said in his interview:

“We cater heavily to the cryptocurrency audience to start; it’s not as intuitive to mainstream users. We think the new need is for people to be able to spend bitcoin currency. “