CryptoBnB: Decentralization Matters, we’re here to lead the way
In centralized systems, most activities of a group or organization, especially those that involve decision-making and planning, are done within a specific authority that reserves all the fundamental decision making power. The demerits of this system of governance span from miscommunication, delays in delivery, economic discrepancies and exclusion of many players from the governance breeding distrust and disputes.
Centralization of rental platforms has been the norm in the industry for as long as we can remember. Owners of the rental properties have had to delegate the job of finding tenants to selected organizations and trust that their properties will get clients. Most of these organizations require a non-refundable commission from the homeowner regardless of whether or not it gets a client. Likewise, any customers visiting a particular area have to deal with middlemen and brokers that connect them to the desired property. The downside is that the rates of these properties get hiked to deal with the cuts that have to be commissioned to the middlemen. This results in the clients paying exorbitantly high prices, a fraction of which trickles down to the property owners.
Homeowners are gradually shying away from putting their homes on the market. Mistrust of the system is widespread among renters and for good reasons. In case your property gets rented to bad tenants that cause damage, or a ruckus, the high chances are that the rental agency excludes themselves from responsibility and all this falls on the owner’s’ shoulders. Another downfall is that you do not know any of the tenants that get your home, and just have to hope that they respect your space. Getting to trust the tenants before renting out your home is not usually feasible in every situation, as most deals happen through the middleman.
The emergence of blockchain in the rental industry has disrupted the conventional ways of operations. Individuals, businesses and organizations can freely interact and make transactions without the need for a third party. CryptoBnB has created a reality where the tenants and homeowners interact directly for a fraction of what it would have otherwise cost using the traditional methods. The blockchain distribution databases are designed to prove the authenticity of both parties, allowing for the transfer of ownership without the use of middlemen. It provides paperless proof of ownership, proof of exchange, proof of value and proof of transaction. This greatly eliminates the concept of mistrust that is widely apparent in traditional methods. The decentralized CryptoBnB network verification prevents forgery of any kind.
CryptoBnB combines the technology of blockchain with the power of Artificial Intelligence and big data power to find solutions for both parties in the rental industry. Artificial Intelligence is a type of intelligence exhibited by machines or softwares (intelligent agents) that mimics the human cognitive functions associated with the human mind. AI enables intelligent agents to perceive the environment and take specific actions that maximises chances of success towards a particular goal. CryptoBnB takes advantage of this technology to find the best fit for both the renters and tenants. One can rest assured that the search conducted exhausts all the possible fields and avenues and gives the best results that are most suitable for both parties’ situations. The employing of big data by Crypto has increased the speed, size and the variety of data that the platform collects. The combination of these three services has enabled CryptoBnB to intelligently find the perfect solutions for everyone’s hospitality needs. The results are very accurate and tailored to every specific individual’s desires.
With all that it has to offer, CryptoBnB will bring constructive changes to the hospitality industry and rental market. Essentially, this technology is everything that the renters and tenants need to remain satisfied flawlessly. CryptoBnB will, unarguably, shake up the rental market and revolutionize how the industry conducts business.
