Zangll claims to be the first decentralized P2P platform for vacation rentals. Find out how it works today in our review.
What Is Zangll?
Zangll, found online at Zangll.io, is a decentralized peer-to-peer platform for vacation rentals. Today’s vacation rental industry is dominated by high-priced intermediaries like Airbnb and VRBO. These companies charge property owners enormous fees in exchange for listing properties and processing payments.
The ICO for Zangll’s ZNGL tokens begins on November 29, 2017. Zangll is being created by an Estonia-based team of developers.
The entire platform is built on the Ethereum blockchain, with ERC20 tokens used for transactions, and smart contracts used to secure those transactions.
How Does Zangll Work?
Zangll claims to be creating the future of vacation rentals today. The platform is built on the Ethereum Virtual Machine, or EVM, where it functions as a decentralized service for short-term real estate rentals.
Using the platform, vacation property owners can connect directly with renters without the use of intermediaries. Smart contracts and the blockchain are used to provide transparency and security throughout the transaction process.
In addition to function as a peer-to-peer marketplace for vacation rental booking, Zangll will offer a variety of other benefits, including instant international payments, smart contract creation, free property listings, honest rating systems built on immutable blockchain records, and the use of electronic smart locks (say, if you want to unlock your door when a guest arrives at your property).
Another key part of the Zangll platform is the secure protocol with API access. This allows Zangll to connect additional modules to communicate with other blockchains, third-party services, and insurance companies.
The entire Zangll platform is based on the high-level Go language. Zangll also uses Internet of Things (IoT) devices (i.e. smart devices) to confirm all stages of transactions. Interactions in the rental transaction process occur directly between users without the participation of any intermediaries from Zangll. The blockchain and the smart contract are the intermediary.
Meanwhile, the blockchain stores data using a special distributed file system. That data includes information about each rental property.
Zangll Features And Benefits
As mentioned above, today’s vacation rental industry is filled with high-priced intermediaries. Zangll aims to provide significant benefits over these competing platforms, including all of the following:
Zangll connects lessors and lessees directly through a decentralized marketplace. The blockchain and smart contract replaces the intermediary, providing the same level of integrity and transparency with none of the high costs.
Zangll charges a transaction fee of 0.45%, compared to service fees of 12% or higher on traditional booking platforms.
The average Zangll transaction time is 5 seconds, compared to 3 banking days on conventional booking platforms.
Zangll payments are made via escrow and smart contracts, with a full refund available if the deal fails.
Zangll automates all processes involved with renting a vacation property online, including recruitment, automation, smart contract creation, and escrow. All of these processes are automated, which means lower overhead expenses for Zangll and its customers.
Obviously, all property rental booking platforms need some type of dispute resolution system, and Zangll is no exception. The company plans to implement a four level dispute resolution scheme, with the first level involving dialog between the parties, the second level involving artificial intelligence systems, the third level using independent arbitrators, and the fourth level using a member of the Zangll team.
The Zangll Token Sale
Zangll is selling ZNGL tokens through a token sale. That sale begins on November 29 at 17:00 UTC. Zangll is issuing a total of 200 million tokens at a price of $0.27 per ZNGL. They’re seeking to raise $30 million. Bonuses of up to 35% are available during the token sale, with bonuses available based on time – not the amount you’re purchasing. If you buy tokens during the first hour, for example, you’ll receive a 35% bonus. If you buy during the first 24 hours, your bonus is 30%.
The tokens are ERC20 tokens built on the Ethereum blockchain.
70% of the total supply of tokens (140 million tokens) will be distributed during the crowdsale. The remaining tokens are going to the team and founders (16%), a reserve fund (16%), and bounties, bonuses, and referrals (4%).
Any tokens not sold during the ICO will be frozen. These tokens will only be sold in the event of a five-fold increase in the value of the token (i.e. when the token goes over $1.35 in price).
Who’s Behind Zangll?
Zangll is led by Makim Mishchenko (CEO), Bart Johan Slagt (CTO), Andrey Andreev (CFO), Jean Serge Sagbo (COO), Andrew Gilliland (CCO), and Margus Napp (CPO).
Prior to founding Zangll, Mishchenko worked as the CEO of Alians RiP, which offered short-term vacation rentals throughout the Caribbean. He’s a Moscow-based entrepreneur.
Zangll is a peer-to-peer decentralized marketplace where property owners can interact with renters in a frictionless way. The platform is built on smart contracts and the Ethereum blockchain for maximum security and transparency. Zangll takes a small cut (0.45%) of every transaction on the platform. Meanwhile, customers enjoy instant international payments, a secure dispute resolution process, and a number of other benefits.
The token sale for ZNGL tokens begins on November 29. Visit online at Zangll.io to participate or to learn more.