Blockchain. Artificial intelligence. Big data.
While those sound like a rundown of this year’s biggest buzzwords, the three technologies actually form the backbone of a new Airbnb competitor gearing for the home-sharing marketplace called CryptoBnB.
By harnessing the “power of three,” CryptoBnB positions itself as an intelligent short-term rental platform that allows hosts and guests to transact via cryptocurrency.
In other words: Airbnb meets Bitcoin.
The idea is to improve upon the model built by established alternative accommodations players like Airbnb and HomeAway by introducing a decentralized platform.
By closing the gap between owner and renter, CryptoBnB helps reduce the risk of fraud in everything from payments to property listings to user reviews.
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The platform's CryptoDNA technology is designed to use AI and big data to get smarter over time. As a result, individual preferences are tracked and referenced to provide better matches with available rentals.
AI will also inform the technology's peer-to-peer marketing mechanism, which aims to improve targeted campaigns and increase host ROI.
To raise funds, the Dubai-based company has an initial coin offering (ICO) scheduled for this month.