Cornucopia is a privately-held index fund, dedicated to acquiring shares in private companies, ah...
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 platforms such as Angie’s List, Thumbtack, and Home Advisor operate with a pay-to-bid business model. Vendors are required to pay to place a bid on any project on which they want to work. We believe this business model leaves customers and vendors vulnerable. The vendors are rewarded for underbidding, and customers are required to blindly trust the lowest bidder. We believe this business model is outdated, inefficient, and unfair to everyone involved. Dashing wants to bring transparency, security, and, most importantly, fairness to the home services industry through the use of blockchain technology.
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.
The Dashing ecosystem was specifically designed to address these issues and consists of the the Dashing Platform (Dashing) and the GetDashing Application (GetDashing). The Dashing Platform uses blockchain technology to automate user verification, reputation management, payment processing, contract life-cycle management, and dispute arbitration. Blockchain technology enables automation, which increases efficiency,
transparency, and trust while reducing costs.
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.
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