Why Adopt the Nite Protocol
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Any traveler, operator, or builder might ask, "Why should I care about the Nite Protocol? And "Even if I care, why should I invest in its adoption? "
These are fair questions. The short answer is that if you're frustrated with the state of the travel industry as a builder, host, or traveler, you can now do something about it while having shared ownership in the future success of the Nite Protocol.
Here's the longer answer. Today, there are too many barriers to entry for startup innovators to gain traction and compete with incumbent OTAs using web2 business models. Fortunately, emergent technology enables new opportunities that are proven disruptors.
DePIN stands for Decentralized Physical Infrastructure Network. It's an innovative way to build and maintain physical infrastructure networks. DePINs help overcome the financial and logistical barriers to entry created by incumbents in two ways:
Crowdsource the cost of creating a shared peer-to-peer network; and
Use public blockchains to coordinate the actions of contributors globally toward what is best for the network.
Generally, DePINs overcompensate their first set of contributors because they take more risk and have an outsized impact on early growth. Using this incentives-driven approach, DePINs create significant supply capacity that benefits end-consumers by reducing costs, creating innovative use cases, and building a more robust, decentralized infrastructure. This model has proven successful in IoT (), cloud storage (), mapping technology (), and many other use cases. Likewise, the supply-side network is the key to unlocking value and innovation across the vacation rental sector. By collectively increasing the number of suppliers using the Nite Protocol, it will enable collective innovation and market penetration that might not otherwise be feasible. Every new open-source listing makes a difference in creating an open network around the Nite Protocol. Each on-chain reservation adds value, and the earliest contributors will have an outsized opportunity to make an impact.