Two blockchain startups in San Francisco are teaming up, including one that aims to create a kind of decentralized Airbnb.

Start-up short-term housing rental Bee Token and the WeTrust financial services platform combine to develop a "layer of decentralized insurance based on participatory security deposits". In other words, the deposits would serve as a financial buffer for both the guest list on the Bee Token's Beenest platform as well as for the guests.

To get there, both startups plan to connect to each other to share information about users, including their overall reliability as tenants or hosts. The idea is that by reducing the cost of a major pitfall – that is, insurance against possible property damage – both companies can open access to a sharing economy focused on housing.

WeTrust CEO George Li was quoted as saying:

"We can not be happier with this partnership with Bee Token: this collaboration is exactly the kind of innovative use that we believe will demonstrate the benefits of our platform in process management. Complexes of decentralized insurance, similar products to insurance in various industries. "

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

In a recent interview with the San Francisco Chronicle, Bee Token co-founder Jonathan Chou suggested that the platform would, in a way, respond to those already exposed to the cryptocurrency world.

"We do a lot of crypto-currency listening to get started, but it's not as intuitive for mainstream users," said Jonathan Chou, co-founder of Bee Token, to the newspaper. . "We think the new need is for people to be able to spend bitcoin money."

Image of the house via Shutterstock

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