Blockchain technology is planning on developing travel amenities for everyone at affordable costs with an opportunity to earn back.
After months without travel, the 20-month COVID-19 travel ban to the US was finally lifted, affecting all non-US citizens from more than 30 countries. With countries slowly opening up, travel has returned to number one in the world, with the hope that more and more countries will ease their restrictions in response to the US measures.
Unfortunately, with more and more people wanting to travel again, prices are still lagging. Gasoline, airfare and hotel prices are reaching new heights as passengers and tourists try to seize all that is available. Unfortunately for many, this means paying more for a vacation than they can afford and even missing out on their dream trip.
This may come as a surprise, but the capabilities of blockchain technology can handle this sudden price spike. BitBook, a platform that launched in October, offers its community the opportunity to book trips and earn cryptocurrencies. Everyone has the right to travel, and BitBook makes it possible by rewarding people who book through their website, invite others, or create engaging content.
With a community focus, BitBook makes travel worthwhile in many ways, with offerings that now include access to over 400,000 hotels, over 300 airlines, and Hertz and Sixtz car rentals.
Also read: 5 reasons why crypto is grateful
Competition in traditional markets
BitBook was founded by a team of experienced technical experts, including two executives from KuCoin. After looking at the tourism industry today, they realized that blockchain technology could offer a very real opportunity to compete in a market dominated by two big players, the Expedia group and the Booking holdings, which currently hold more than 90% market share. .
Unfortunately, this results in hotels paying high booking fees (sometimes up to 30% and 3-5% for payment processing), with increased additional costs for end users, making it nearly impossible for startups to compete in industry giants. The industry and its passengers may not have had a choice before, but BitBook recognized this as a clear niche market they could fill.
Nick van der Kolk, CEO of BitBook, said while discussing their strategy to transform the tourism industry, "When David plays Goliath, you win by not playing Goliath. This is our strategy at BitBook; We can do things that only cryptocurrency tokens can, and we focus on value for travelers, influential people and token holders. Since our inception, people who book hotels on BitBook.net have received around 60% cashback on their bookings.
Since then, the team has chosen to play a different game and revolutionized the industry with a thriving community and no venture capital. In keeping with this tactic, the team worked with big names in the industry such as Priceline, with partnerships looking to provide their visitors with comprehensive accommodation and customer service.
Earn by traveling
The chance of winning is realized through several conditions. Firstly, users can earn BBT tokens by booking their rides through the platform. Alternatively, they can generate passive income when their network book trips. As the collection of BBT tokens increases, consumers can also earn passive income through the betting process.
BitBook also recently announced the upcoming release of the “Create and Win” section of its platform, which is expected to reward people who create content to reach people they influence and bring to the platform. These awards are designed to generate profits when new passengers book vacations on the platform over the next 20 years. The team believes the trip is worth it and is working with the platform to prove it.