Briefing
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- Bee Token – Will launch new decentralized short-term rental housing platform on blockchain, bypassing middlemen's role in setting contracts and managing payments between parties
- Cryptocurrency-Enabled – Uses own cryptocurrency for payment, which hosts can exchange in external exchanges or use for other listed properties
- Lower Costs – Charges no transaction fees compared to Airbnb’s 15% which reduces income for hosts, with company planning to make money from licensing technology, and charging 1-2% for payments made with Bitcoin or Ether
- Airbnb-Like Experience – Mimics Airbnb features with glossy photos, user ratings, reviews, and hosting rules
- Handling Disputes – Disputes settled initially by five-person randomly selected arbitration team who will be paid with tokens, with plans to automate settlements through smart contracts in future
- Timeline – Plans soft launch on February 2018, with hard launch set for April 2018, and Initial Coin Offering (ICO) which will raise $15 million in token sales commencing January 2018
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Accelerator
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Market Disruption
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Sector
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Accommodation and Travel, Information Technology
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Organization
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Bee Token
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Source
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Original Publication Date
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February 5, 2018
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