The Blockchain Hotels project leverages distributed ledger technology to disrupt the hospitality industry. It comprises of a chain of hotels located in prime tourist locations across the world. This ecosystem is set up using modular technologies, and each hotel represents a decentralized data center that independently contributes to the blockchain.
Despite featuring state-of-the-art facilities, Blockchain Hotels are affordable. Using the proprietary Hotel Coin, visitors can access a variety of services in the Blockchain Hotels. Furthermore, these hotels also accept other major digital currencies as a means of payment.
Challenges Facing Blockchain Hotels Hospitality Industry
Currently, hotel owners charge exorbitant fees for overnight stays in their premises. As a result, the poor are forced to look for cheaper alternatives, most of which compromise on quality.
The hospitality industry is dominated by established names who undermine the growth of startup projects. In this regard, they inhibit the development of infrastructure meant to assist the growth of small-scale businesses.
Since the only priority for hotel owners is to make money, they often overlook certain aspects because they cost more money. For instance, only a small quantity of hotels have installed solar-powered systems, despite their numerous advantages over fossil fuels. This is because solar power is considerably costly as compared to organic fuelled power.
Blockchain Hotels proposes the introduction of distributed ledger technology tom overcome the challenges as mentioned above. The adoption of blockchain technology will makes transactions within the hospitality sector affordable, fast and secure. Moreover, the system will be fully scalable, capable of accommodating an unlimited number of hotels.
Every year, the hospitality industry across the world generates revenue worth a whopping $600 million. In fact, some locations are usually booked out throughout the year. In response to this demand, leading names in the hotel industry such as Hilton are planning to inaugurate additional branches within the next few years.
Evidently, the hospitability sector is on an upward spiral and household brands are presently capitalizing on this demand. Blockchain Hotels aims to tap into this opportunity, focusing on setting up on popular locations that are often underserved.
The Hotel Coin (HCI)
The Hotel Coin is the principal means of payment in the Blockchain Hotels ecosystem. It is an ERC20 complaint token based on the Ethereum blockchain.
Token Sale For Blockchain Hotel
Blockchain Hotels will issue HCI tons for sale to fund its enormous project. Besides the ICO, the HCI tokens will also be available in popular crypto exchanges. This, however, will happen three weeks after the completion of the crowdsale. Blockchain Hotels targets to fundraise a total of $27,212,000 during this sale.
Parameters of the ICO
Private Sell date: February 2018
Private sale price: $0.008
Private sale cap: $2 million
ICO date: June 2018
ICO token price: $0.11 to $0.17
The initial phase of this auspicious project involves the construction of the first hotel. The proceeds from the token sale will be used in the establishment of a hotel chain in various prime locations across the globe. While construction is expected to be fast, approvals and licenses are likely to consume more time.