CryptoBnB aims to provide vacation rentals powered by CryptoDNA, a trust-based blockchain technology. Find out how it works today in our review.
What Is CryptoBnB?
CryptoBnB, found online at CryptoBnB.io, is a vacation rental marketplace that aims to improve the short-term rental experience. The platform uses artificial intelligence, blockchain technology, and big data to enhance search results, helping users find the perfect vacation rentals for their unique needs.
The core power behind CryptoBnB comes from CryptoDNA, a technology that enables zero tenant discrimination, trustworthy verified property ratings, and tailored search experiences. It’s designed to enhance the ROI of property owners while ensuring renters can find the ideal property.
In other words, CryptoBnB plans to enhance today’s short-term vacation rental industry in two core ways: it allows landlords to accept cryptocurrencies in exchange for bookings, and it also allows guests to find the perfect vacation rentals based on machine learning and AI.
How Does CryptoBnB Work?
CryptoBnB’s goal is to create a smart platform with its own tools to help renters book properties more easily. CryptoBnB aims to solve the technological gaps with today’s vacation rental platforms, drastically improving the user experience while leveraging new technologies like blockchain.
Here are some of the core functions behind the CryptoBnB platform:
- P2P targeted marketing powered by CryptoDNA
- CryptoDNA wallet and intelligent search engines powered by AI and big data
- Smart access blockchain powered by IPFS
- P2P smart contracts
- Decentralized P2P reviews and ratings
CryptoBnB’s intelligent search engine is a key distinction between it and other travel booking platforms. That search engine claims to be the first one linked to blockchain technology. It relies on AI and big data to create optimum search results. The search engine takes into account things like user preferences, transaction history, and the actions of other travelers, with the end result being a perfectly matched rental property for the traveler.
Users interact with the CryptoBnB platform through the CryptoDNA wallet. That wallet logs the traveler’s identity, preferences, history, rating, and token balances. You’ll also interact with CryptoBnB through mobile and web apps.
CryptoBnB will use P2P smart contracts to conduct transactions on the back-end. The platform’s token, CBnB tokens, will be used to exchange services on the platform (i.e. you can pay for bookings using CBnB tokens). Smart contracts on CryptoBnB will be created on the Ethereum virtual machine, or EVM.
The CryptoBnB ICO
There’s a total supply of 1 billion CBnB tokens. The tokens are set at a rate of 1 ETH = 9000 CBnB tokens. They’re ERC20 tokens built on the Ethereum blockchain.
60% of the total supply of tokens are available during the ICO. The remaining tokens are dedicated to founders (15%), a reserve fund (12.5%), team (5%), advisors (2.5%), bonuses (2.5%), and bounties (2.5%).
The ICO is scheduled to begin on January 15, 2018.
You’ll be able to use CBnB tokens to pay for vacation rentals through the platform.
Who’s Behind CryptoBnB?
CryptoBnB is led by founder and CEO Tariq Alwahedi, described as a global entrepreneur, industrialist, and business strategist with 20+ years of combined experience across countries and sectors. The self-made businessman was born and raised in Abu Dhabi, UAE. He is also a graduate of the Kellogg School of Management.
CryptoBnB lists Juan Otero, founder of Booking.com, as an advisor. CryptoBnB is based in Dubai.
To make money, CryptoBnB plans to charge a service fee of 2% to 3%, which is signifcnatly lower than the 5% to 15% charged by competitors like AirBnB (property owners are charged a fee of 5% to 15%, then guests are charged an additional fee of 3% with AirBnB).
CryptoBnB aims to take short-term vacation rentals into the cryptocurrency space. However, the platform is designed to be more than just AirBnB with cryptocurrencies: the platform also has an advanced search engine that recommends the best possible properties to guests based on their perceived needs. The platform is powered by artificial intelligence, blockchain, big data, and machine learning.
As the ICO gets underway next month, CryptoBnB’s team plans to start approaching AirBnB landlords and entice them to switch to CryptoBnB. You can learn more about the ongoing project by visiting online today at CryptoBnB.io.