The modern travel industry experienced its first revolution with the adoption of web technology. However, that business model has remained unchanged for many years. It is especially so when you think of the booking process and the user experience. New technologies are exposing the drawbacks to this model of business. For instance, one major drawback to this technology is the high intermediary fees. Another notable problem in this process is the long wait times. These long processing times could increase the cost by up to 30%, which is borne by the end user.
There Is Change Coming
One of the biggest disruptive technologies in the hospitality and tourism industry is blockchain. This technology has also led to the emergence of new digital currencies that are not in the control of any central authority. All this is what led developers to come together to create Acomobase. It is intended to be the first global accommodation marketplace that is powered by blockchain technology. This will bring efficiency to the travel industry.
What Makes Acomobase Special
Unlike other blockchain-based technologies, the vision by Acomobase developers is not just about innovating at the low hanging fruit of an alternative blockchain payment method. The plan they have focuses on an open-ended vision that seeks to use the decentralized system to cut transaction costs. Besides that, they hope to use the power of the blockchain to improve record keeping and make transactions easier to trace. The result will be more efficiency and better security.
A Look At The Current Market Conditions
Technology helped to revolutionize the travel industry but is now holding it back. Today, centralized platforms charge a fee of as high as 30%. Besides that, the entire process is quite complex and slow. There are usually many hidden charges, which can build up to as high as 10%.
The current payment process involves about 14 individual stages. This means the settlement process may take days since the process has changed a little in the past 60 years. Today, travel companies and the payment companies they use spend billions of dollars annually to keep records safe. However, occasionally, hackers do slip by, causing these companies millions of dollars in losses. The result is losses both financially and in terms of customer trust.
Acomobase Offers Blockchain Hospitality Accommodations
The developers of Acomobase propose to use smart contracts to connect people. They will combine this blockchain technology with AI technology to provide a seamless experience for everyone involved. This platform will be accessible to anyone and everyone from around the world. This will all be made possible using the Acomobase token dubbed ACO.
Acomobase ACO ICO Crowdsale
The crowdsale is intended to last for 8 weeks. It will be sold at the rate of 1ETH=4000 ACO. There will be a 5% bonus for the first two weeks. After that, it will go down at a rate of 5% every week. They have settled on a hard cap of 87,500 ETH and a soft cap of 3,000 ETH. The corwdsale is expected to start at some time in February 2018.