Blockchain Technology in the Home Services Market
The US home services market is estimated to be worth more than $400 billion annually and is highly fragmented with tens of thousands of small, local, and regional companies competing for customers. Existing technological solutions match customers with service providers through a combination of competitive bidding platforms and a matchmaking process based on screening and reviews. The existing marketplace is plagued by the following challenges: Lack of trust due to misalignment of incentives and imperfect disclosure by companies when matching customers and vendors; ?Reviews that are often manipulated, fake, inaccurate, or incomplete;?Zero information on transactions where reviews are not left, which could be as high as 90% of all transactions;?Consumers currently have two primary options: the increased costs of highly centralized platforms with some ability to protect from negative outcomes, or the lower-cost and limited recourse offered by decentralized platforms;?The inability of existing solutions to support ongoing, multi-vendor, multi-touch, or complex transactions. None The GetDashing Application (iOS, Android, Web app) will be the first service built on the Dashing Platform and will offer a full-service experience for the home services market. GetDashing will manage all aspects of projects that need to be done around the home and will benefit from the automation provided by the Dashing Platform.