Holiday rental platforms are now also joining the blockchain system

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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Blockchain is increasingly present in the tourism sector. For example, companies like Lockchain, were launched with the intention of ending fees charged by platforms such as Booking or Expedia, now Beenest, looks to do the same with Airbnb. This, at least, is its main objective: to end centralization.

Hotels are a centralized model. Before Airbnb and similar companies such as Homeaway, it was difficult to find short-term accommodation options beyond hotels. But Airbnb came along and broke this traditional accommodation model. Even so, cataloging a $30 billion company as “decentralized”, charging fees to customers, having thousands of employees and being structured like any pyramid company is a mistake. Airbnb is not decentralized, no matter how much users interact with each other instead of paying directly to a hotel.

And as any centralized company, Airbnb requires to pay a user fee to all people who use it. In summary, the platform charges between 6-12% of guest fees, although it can reach 18% in some cases. The hosts, generally, have a service rate of between 3 and 5%. The only difference is that, instead of charging only the accommodation (as OTAs do), it charges both parties.

But there’s more, like any centralized company, Airbnb has the data of all its users stored in a database also centralized. That is to say, contrary to what the decentralized economy supposes, a hack could give access to the data of all Airbnb users.

Decentralized platform to compete with Airbnb

For all these reasons, Beenest was conceived, and a decentralized home exchange network was born. The idea behind it is to end the problems that surround the centralized platforms: security, reputation, and high commissions. Beenest creates and preserves the value for hosts, guests, developers and referees, within an autonomous and decentralized organization.

The first priority that they addressed from the beginning was that of the commissions. Beenest charges, like Lockchain, 0% commission, both to hosts and guests, thanks to intelligent contracts that automate all transactions. As the Bee Token is used for all transactions there are no commissions for foreign transactions or for currency conversion. And all the income that is generated by the transaction is made directly between users who manage the token. In this case, decentralization is defined as the elusion of commissions. A win-win for users.

In addition, Beenest provides a seamless user experience, based on the confidence and security provided by the blockchain. By using Bee Token, the Beenest platform provides guests and guests with maximum privacy, security and freedom.

In order to use the platform, users have to register and pass a basic KYC process (know your client) to make sure that users are real and authenticated.

The 5 big advantages of the blockchain

  • It can not be controlled by a single entity.
  • It cannot be corrupted by malicious attacks.
  • They are completely transparent, reliable and immutable.
  • It has fast transaction speeds and low commissions for any computer that is connected to the internet around the world.

Blockchain empowers people: for people and for people. The need for intermediaries and data silos in thousands of platforms is finished, which then sell them to third parties. Users have control over their own information and transactions.

And they signed an ex “Airbnb-er”

In order to boost its platform, the creators of Bee Token and promoters of Beenest have signed Robert Hao, former Airbnb executive, as an advisor.

Robert played an integral role, leading the growth of Airbnb in China and the APAC region. “He is passionate about helping startups achieve success in Asia, especially in terms of home sharing,” they explain from Bee Token.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.