What is Paradise Proof of Acceptance Algorithm
Introduction
The short description about the algorithm can be said in this way.
The guest reserves a hotel in real time with a 20% discount. This is the real price. We skip online travel agencies. We do not pay commissions.
OTAs usually collect between 50 and 150 Euros as commission from a single reservation.
The host agrees to 20% discount. The additional benefit is no advertising fees. No 2.5–3% credit card transaction fees. The guest pays for booking only in cryptocurrencies immediately in real time.
The host payout will be in fiat and cryptocurrencies immediately in real time using a decentralized or centralized exchange.
No Cancellation Fee. The deposit will be paid out in fiat by the host to the guest after resolve a specific claim (off chain). In this way we will solve the volatility of cryptocurrencies.
Taking into account the initial 20% discount, no one should be disadvantaged.
We should also take into consideration the number of unoccupied rooms during the year.
Occupancy rate of Marriott International hotels worldwide in 2017, by region;
North America 76%, Caribbean & Latin America 66.5% according to statista https://www.statista.com/statistics/271096/occupancy-rate-of-marriott-international-inc-hotels-worldwide/
I hope that this brief presentation of our algorithm will allow investors to understand its mechanism a bit.
⚡Paradise Token [PDT]⚡- 🚀💰The Future Booking | Token with revenue|💰🚀
The algorithm will be connected together with our three protocols:
Features
The Paradise Dapp and the Paradise Protocols are powered by the ERC-20 utility token called the Paradise token. These protocols provide the Paradise
network with three principle systems:
PARADISE PROTOCOLS
1. A Payment/security protocol
A Payment/security protocol allows two authenticated P2P entities to send and receive money that gets held in Paradise Tokens until after a successful
exchange of services between the two entities. With the help of the Ethereum
blockchain, we are able to make payments with only 1 step and 1 fee (1.2 %
Transaction Fees — (0.2 % will back to “Pool Smart Contract. After a writing
review by the guest 0.2% will back to him), which results in accepting
payments generally up to 5X cheaper and up to x10000 faster for the host.
After simple integration with “Paradise”, host will be able to: use our
decentralized trust and reputation system, accept Ethereum based tokens or,
accept mobile payments, and easily convert cryptocurrency to their local fiat
currency or desire cryptocurrency.1% commission for BTC, ETH (other utility
ERC20 tokens).This commission is charged for guests when they chose a pay-in method other than PDT, and for hosts who prefer to get paid-out in other than PDT.
2. A Trust/Claim protocol
Default trust rates will be created for both host and guest using the Paradise
ecosystem for the first time. Every time a transaction is made, claim registered, solved or unsolved etc. the smart contract will automatically change the trust level for each of the parties involved. A Trust rating will be assigned to a specific wallet address. Everyone will be able to see a trust rate in the most common and typical places, such as the host’s website or mobile app and by the host/guest on the blockchain user-friendly interface (Enable access to these dApps from desktop browser and Smartphone’s ) once the purchase is made.
/Claim. Once the client makes the claim, all the needed information is saved on the blockchain user-friendly interface (Enable access to these dApps from
desktop browser and Smartphone’s).The claim protocol acts as a third party for dispute resolution. The host trust rating is immediately decreased, so the host is incentivized to solve the problem as quickly as possible. The host receives the notification about the claim, looks at the details and contacts the client off- chain. The details are saved to the blockchain. Once the claim is resolved, trust rating is increased for both parties instantly.
3. A Reputation protocol
A decentralized reputation system will working flawlessly by a trusted digital
fingerprint protocol on the Ethereum blockchain. Reputation system will be
transparent, universal, not controlled by a central authority, transferable, self-
executing. Every time a transaction is made, the smart contract will
automatically change the reputation level for each of the parties involved.
Paradise updates the reputation score based on how guests and hosts
behaviour on the platform. Good hosts with no cancellations and high reviews
have higher scores than those with lower reviews and many cancellations.
Our target is to offer transparency into our token metrics ,expansion and
future roadmap of development.
LINKS
Website:
https://www.paradisetoken.co.uk
Twitter:
https://t.me/paradisetoken
Reddit:
https://www.reddit.com/r/paradisetoken
Telegram:
https://t.me/paradisetoken
Bitcointalk ANN:
https://bitcointalk.org/index.php?topic=5090453.20
