Bookira is a blockchain technology company that aims to use blockchain to create a safer, easier online booking experience. Read our review to find out if the ICO is worth your investment.
What is Bookira?
Bookira, found online at Bookira.io, is an online booking service that allows users to book hotels, flights, car rentals, travel tours, and more over a blockchain-based platform.
The platform revolves around the use of Bookira tokens, or BKT. The pre-ICO for BKT tokens was completed in September, with the full crowdsale scheduled to begin on September 25.
BKT and the Bookira platform aim to solve crucial problems in the booking industry, including high costs, double spending, double bookings, and the difficulty of finding good travel and vacation deals.
Bookira is being developed by a company named Delta International Investments Limited.
What Problems Does Bookira Seek to Solve?
The developers of Bookira believe there are crucial problems in today’s travel booking industry. Specifically, the problems are related to the current ticketing process.
The modern ticket marketplace is rife with problems, including losses due to foreign exchange rate transactions, a reliance on centralized third parties, and the use of bots to scoop up tickets on the primary market while real customers are forced to buy tickets from the secondary market.
Bookira wants to solve these problems using blockchain technology.
How Does Bookira Work?
Bookira wants to solve the above problems, giving users an easy way to book travel arrangements and online tickets. The platform aims to reduce costs across the industry while also addressing security issues.
Interestingly, the Bookira whitepaper doesn’t go into detail about the technology stack “for security reason”. However, the developers do describe, in general, how the core modules of the platform interact with each other. Here’s a basic overview:
Bookira plans to partner with some of the biggest online travel agents available today, including Priceline Group (which owns Booking.com) and Agoda, Airbnb.com, ODEON & UCI Cinemas Group, Wanda Group, Skyscanner, Rail Europe, Expedia, TripAdvisor, and more. Bookira claims they’ve already entered partnerships with a number of these companies, including The Priceline Group and AirBnB.
Each user’s account consists of an address that confirms transactions. Bookira account contains four fields, including a counter that makes sure each transaction can only be processed once the balance is up-to-date.
Bookira uses smart contracts to facilitate transactions on top of the Ethereum blockchain.
The Bookira Token (BKT):
The Bookira token is the primary cryptocurrency used on the Bookira platform. All Bookira transactions are recorded on the blockchain, which is designed to make the travel industry more secure and transparent.
Typically, a company’s whitepaper goes into further detail about their blockchain platform and the technical details behind it. However, the Bookira whitepaper doesn’t go into technical details for security reasons – so it appears they want to keep their technology stack secret until they launch their mobile app in Q2 2018.
The Bookira ICO
The pre-sale for Bookira tokens began on September 14. The crowdsale – available to anyone – is scheduled for September 25 to October 25.
There’s a total supply of 100 million BKT tokens. The tokens are built on the Ethereum blockchain.
As a BKT token holder, you can keep the token to receive dividends. At the end of a financial year, 25% of distributable profit of Bookira is transferred to the Ethereum wallet containing the smart contract. The ETH is then redistributed proportionally to all holders of Bookira tokens according to smart contract conditions.
In order to receive dividends, you’ll need to hold your BKT tokens in an Ethereum wallet – like Mist or MyEtherWallet.
Alternatively, you can use your BKT tokens as you would use any cryptocurrency, selling them on the market or holding on to them as an investment.
The primary purpose of Bookira tokens, however, is to pay for goods and services over the Bookira platform.
Who’s Behind Bookira?
Bookira is being developed by Delta International Investments Limited, which is working with Bookeo Pty Ltd, a NSW, Australia-based company. Delta’s CEO, Michael Siegel, co-founded Bookira with Richard G Brown.
Founded in 2010, Bookeo is a software company offering solutions to the online booking industry. To date, the company’s platforms have processed more than 22 million booking transactions and $1.8 billion in payments.
The idea for Bookira first emerged in Q1 2016. The first beta was privately launched in Q1 2017. In Q2 2017, Bookira established partnerships with The Priceline Group, Odeon Cinemas Group, Wanda Group, AirBnB, and other big names in the industry.
The Bookira mobile app is scheduled to launch in Q2 2018.
Bookira is a new and improved online travel booking system that aims to solve crucial problems in the industry – like lack of transparency and security. The developers have experience building platforms for the online travel booking sector, and have been building booking platforms since 2010.
The Bookira token sale for BKT tokens is taking place throughout September and October. You can learn more about the token sale online today at Bookira.io.