What do cryptocurrency and coworking have to do with each other? In the past, probably not much. But coworking spaces are beginning to test out the benefits of accepting cryptocurrency from members — and some are integrating it into their business model.
Professionals are exploring new ways to work and new ways to exchange money — So it’s no surprise that innovative companies are finding ways to fuse these two concepts together to create more wealth and creative opportunity.
Primalbase is leading the movement, offering shared workspace around the world in exchange for Ether. Using a platform called Waves (where users can store, trade, manage, and issue digital currency), Primalbase created PBTs for longterm members. They distributed their first 1000 tokens in 2017 to a set of core members, who could then use space, lease space to others, or sell their tokens.
Those looking to book office space simply select their date and pay PBT holders in Ether. The whole process is done digitally and Primalbase’s algorithm automatically matches customers with the most affordable price for their chosen dates. It’s like the Airbnb of office space — plus cryptocurrency.
Primalbase’s next offices will open in Brooklyn and Singapore in early 2019. They currently have workspace in Amsterdam, Berlin, and London.
“This model for managing and even monetizing the shared workspace experience promises to revolutionize an already revolutionary industry and open up access to even more people who want to take advantage of the unique opportunities being created by blockchain technology.”
Another big name in the movement is Buro HQ, a posh New York City coworking space offering ‘crypto community’ and an incubator that gives crypto/blockchain startups access to investors, business advisors, marketing tools, and more.
There are dozens of examples of professionals collaborating and opening up to blockchain technology all over the world.
In 2017, Vietnamese coworking space Hub Hoi An began accepting Bitcoin, Litecoin, Ethereum, and other cryptocurrency payments from members. Founder of the space, Sarah Kuhlemann says she made the decision after a member created his own blockchain called Mix. “My members are super open to the topic and around 50% are using cryptocurrency as a payment method,” she told Coworker.com.
Krakow, Poland recently launched its first crypto-coworking space, Forklog, which offers a free PCI slot for mining Ethereum. They offer pay-per-desk, rather than pay-per-person so that small blockchain startups with 2 or 3 people can share a desk. This grants them the opportunity to rent space and grow their business without going broke.
“Because there are a lot of small Blockchain startups that simply can’t afford paying 700 PLN each month per person. We believe they should have an equal opportunity to be a part of Poland’s growing startup community even if they don’t have VCs behind them.” source
So what is to be gained by bringing cryptocurrency into the modern shared office space?
“In a world of institutions and middlemen, the blockchain represents a break from the status quo. A self-serving, faceless distributed computer network that doesn’t involve any bank whatsoever — It’s a force to be reckoned with.”