ChangeCoin was best known for letting people tip each other with bitcoin. However Airbnb have acqui-hired the team behind it to explore ways of making your Airbnb profile immutable and universally readable i.e. become a trusted form of digital identity that would allow other platforms to know if you come with a history of trashing Airbnb properties.
If Airbnb can figure out a way to make its user profiles immutable and universally readable, they could become a trusted form of digital identity, a bit like the profiles that credit bureaus create for individuals. If these identities can be “exported” to other platforms, as Blecharczyk said, they could become hugely valuable. An Uber driver, for example, might know if his next passenger came with a history of leaving Airbnb properties damaged. If Airbnb’s feeling adventurous, it could also start exploring more esoteric, but potentially hugely useful, ways of using blockchains, such as door locks that open or close when a user sends money to a homeowner over a blockchain. ChangeTip built a relatively successful product, but it wasn’t enough to build a sustainable company.