Airbnb may be the biggest home-sharing game in town, but a new startup is trying to push its way into the market.
Enter CryptoBnB: the online home-sharing platform that wants you to pay for your couch-surfing stays using digital currency.
That’s right — this startup is combining two of this year’s trendiest topics — home-sharing and cryptocurrency — into one buzz-word extravaganza.
The CryptoBnB team says the advantages of cryptocurrency go beyond having a slick, high-tech way to pay for your room. The startup will use blockchain — the technology behind bitcoin and other digital currencies — to power its home-sharing platform. Blockchain is a decentralized digital ledger that facilitates secure online transactions between different computers, creating a record that can’t be altered retroactively.
Tariq Alwahedi, CryptoBnB’s founder, says by using blockchain for its transactions, the startup will create a secure platform through which it’s easy for a host to verify the identity of a prospective guest, and hard for a guest to leave fake reviews.
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