Revolutionization of Short-term home rentals led by CryptoBnB

On a beautiful Saturday morning , a nice young  couple by the name Rico and Amanda finally parked in front of their newly rented house which they saw being advertised on the Internet at a knock off price after paying a middle man who promised them a  100 percent guarantee that the building was going to theirs.They unpacked their stuff in front of the porch and decided to take a quick tour around the house . To their surprise, they met a stern looking  older man who asked them to get off his property after they told him that they were moving in into the house.  Apparently , they have been duped. The older man had moved in about a month before.

Cortez, a well travelled man , decided to take his family  along to Australia for the coming holidays. He booked rooms in a hotel through a website that helped holiday makers with reserving rooms in hotels and other places offering accommodation to tourists and holiday makers. He catered for all the expenses before leaving for Australia .  After a 13 hour flight, he arrived at the hotel together with his wife and two kids only to be told that no online reservations were made in his name .It was later discovered that the website was fake .
 Nina travelled to South Africa on an educational trip. She was so excited to go the wildlife parks which were far away from where she was in Johannesburg so she looked up available motels near the safari . She got one and made all payments before leaving her hotel. She got to the motel only to realize that it was actually an elementary school.The town folks told her no motel of that sort existed in the town.
The ordeal of searching for an apartment is inevitable- the search, the competition, the upfront money …..Most renters stop frequently moving for these reasons. But sometimes the rental process goes from merely aggravating to actually illegal. While a majority of rental listings are legitimate, rental scams are out there, and not always easy to spot.
Stories such as these are still on the rise and little has been so far to tackle it.People , especially millenials  are becoming less adventurous and are now  choose to spend holidays close by and whiles have completely backed out for  fear of being scammed .
While the future of the prospective homeowner considering his options in terms of its riskiness rather than suitability , we can look at ours with a lot of hope as technological advancements have made it possible to do things in the comfort of our palms which could not be imagined a decade ago. We are in the age of blockchain technology and artificial intelligence. There seems to be a way out of this debacle, one that combines both blockchain technology and artificial intelligence algorithm. The CryptoBnB is making this a realistic possibility.

WHAT IS CRYPTOBNB?

 CryptoBnB is building a next-generation marketplace of online, short term rentals and tenant smart matches . The new marketplace aims to improve on the existing options available to travelers by offering more efficiency on searches, overall lower fees, and better flexibility by using blockchain smart contracts in combination with the power of AI and big data to find a desired accommodation in the most efficient way. This new blockchain technology allows peer-to-peer transactions for renting a property securely without the added costs of an escrow service. The technology also enables a smarter intelligent way of directed P2P marketing between hosts and travelers, while boosting the ROI for hosts.

This next-generation marketplace of online hospitality and short-term vacation rentals will allow travelers and occupants to tap into a huge market of residences that match their budgets and accommodation requirements around the globe while boosting trust between homeowners and occupants. The AI algorithm, combined with blockchain in the platform, will generate accurate matches between homeowners and suitable short-term tenants, with minimal transaction fees. This next-generation marketplace will allow homeowners and occupants to quickly transact secure payments using BnB tokens, without global barriers.

CryptoBnB will capture the short –term rental market by combining pre-existing short-term rental models such as AirBnB and HomeAway with blockchain technology. CryptoBnB’s use of blockchain technology will create an improved marketplace for the short-term rental market by reducing significant challenges that currently exist in the market, including inefficient searching, high fees, fraudulent identification, fraudulent representation of properties and fraudulent reviews. Reducing these challenges will also increase the return on investment for the host. CryptoBnB will be the first platform to combine the “power of three”: blockchain (smart contracts), artificial intelligence (AI) and big data. This will generate an intelligent hospitality service marketplace that benefits property owners and travelers by providing more accurate matches between travelers and properties.
The platform aims to increase the return on investment (ROI) for hosts and service providers through enhanced matchmaking to the right traveler who is looking for that particular property or service.

SWOT ANALYSIS OF EXISTING MARKETPLACE

Evaluating the strengths, weaknesses, opportunities, and threats (SWOT) of existing short-term rental platforms can provide great insight into what the perfect system should look like. CryptoBnB is using SWOT analysis to analyze the short-term rental market and guide the development of the CryptoBnB platform.

 STRENGTHS
Current short-term rental platforms have caused a significant portion of the population to change their outlook toward a hospitality-sharing economy. A decade ago, the idea of renting a room in a stranger’s house was not well received. This way of renting and traveling has become much more common, especially for Millennial travelers. This has resulted in gains of 10 percent or higher per year for these platforms.

WEAKNESSES
One of the greatest weaknesses of the short-term rental platform is centralization. Centralization has created a large overhead cost since hiring people in every country to manage platforms and be on call is expensive. This overhead has forced existing companies to charge high fees to its platform users, typically 12–15 percent for each transaction. This has deterred many hosts from listing their properties on short-term rental platforms since high fees decrease their profit margins and limit companies such as Airbnb from being able to increase property offerings (i.e., scale up to meet the demands of a growing market). Centralization has also forced these companies to take on the role of an escrow agent, negotiating the deal between the buyer and the seller. This has exposed these companies to huge legal and reputational exposure. Recently, Airbnb became a victim of many lawsuits due to their centralized role of acting as the escrow agent between the traveler and the host.  Another weakness that emerges from centralization is the swayed ratings and reviews of centralized marketplace users and hosts. A quick look at some of the reviews on Airbnb and TripAdvisor for the same property makes you think twice how genuine these reviews are. Additionally, centralized marketplaces such as Airbnb were blamed for bringing a bad influence into the neighborhood by attracting travelers who were not similar to their hosts, resulting in a large community backlash toward Airbnb in many cities. This indicates a gap in the match making system of current platforms.  In less than ten years, the short-term rental market has impacted the hotel and lodging industry by 0.5 percent year-over-year, estimated at $300 million dollars per year. That percentage represents only a small fraction of the total available accommodation market.  The short-term rental market is dynamic, as many properties get listed and unlisted based on market supply
Short-term rental marketplaces have an endless potential to expand. They can do so by capitalizing on a variety of demographics that are currently underrepresented in the short-term rental market, specifically homeowners who are skeptical of listing properties on short-term rental market platforms due to the inability to trust the system or the system’s patrons within their homes. Having technology that creates trust could assure these homeowners that it is safe to rent to strangers that have been pre-screened and verified and create an enormous turning point for the short-term rental market.

CHALLENGES: 
CryptoBnB faces several threats that could negatively affect the industry segment. Fierce competition exerts constant pressure on market share and prices. Traditional marketplaces for hotel bookings such as booking.com and expedia.com are providing access to short-term rentals on their platforms, thus competing for market share. Many cities have implemented strict rules for short-term rentals, passing constantly changing government regulations for short-term rentals that could result in the potential risk for centralized marketplaces to be exposed to penalties and lawsuits.

 CryptoBnB will be built on the already functioning short-term rental model but with the introduction of advanced technology based on blockchain power, AI and big data. These features will allow our marketplace to catapult to success with growing demand, new acquisitions and novel products and services within the sector. This innovative approach to short-term renting will make CryptoBnB a leading competitor in the short-term rental market.

CryptoBnB ICO


Cryptobnb ICO is live. There is 50% discount for investors so join now and enjoy this amazing offer.

ICO Token and Distribution Details

Token Specifications

• - The total number of CKEY tokens is 1 billion
• -1 CKEY: US$0.08
• -The Token Sale will run for 90  days or until sold out
• -The ICO hard cap is $15.2 million
• -The soft cap is $1.5 million
• -The minimum purchase is $75 (0.1 ETH)
• -CKEY tokens are ERC-20 standard tokens
• -Participant's wallets must be ETH ERC-20 compatible
• -Tokens are bound to USD for the sale - as ETH fluctuates the amount of tokens received changes, not the price of the tokens

ICO Details

• -Participants must register for the ICO directly through our website (no other website or mechanism is promoted)
• -After filling out the KYC form, the CryptoBnB team will vet all applicants and notify them when the ETH wallet address they have supplied is approved or rejected
• -Applicants will receive a notification when their ETH transfer has been successful
• -Allocated tokens will be transferred to applicant’s wallet in maximum of one week
• For more informations on CryptoBnB,  contact us on the following platforms;
• WEBSITE : http://cryptobnb.io
  
  
  Whitepaper: https://cryptobnb.io/p-content/uploads/2018/01/CryptoBnB_en.pdf
  ANN THREAD: https://bitcointalk.org/index.php?topic=2547705.0
  
  
  Telegram: https://t.me/cryptobnbgroup
• Author: 
• Bitcointalk username: Jorge158
• Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1256959
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