Utilising blockchain technology to disrupt the current centralised modality, DecentraBNB’s universal protocol aims to connect users directly with travel companies and individuals hosting their rentable properties on the dedicated application, while giving consumers full autonomy of their digital identity – allowing them to receive royalties for their content and data points.
For businesses, the project represents an opportunity to have direct access to users, avoiding the multitude of additional costs levied by intermediaries. It will also grant them access to consumer behaviour and purchasing actions, which is currently limited by centralised platforms, in turn allowing more effective marketing and higher profits.
Additionally, both travel businesses and DeFi projects will be encouraged to build independent dApps on the database, with the latter being able to provide their tokens for direct use on the platform. Indeed, at the time of writing there are currently 13 cryptocurrencies which can be actively used to pay for accommodation using the dedicated application, (including DBNB, the project’s native token) with more due to become available in the coming weeks as the company scales. The app itself is already fully operational and downloadable from the IOS and Android application stores, featuring approximately 2500 active members and 300 different rentable accommodation sites, situated globally.
The project is overseen by CEO Abdoulaye Diop, better known by his artist title, Majestic Drama – a platinum-selling music producer and songwriter, as well as keen cryptocurrency entrepreneur. The project recently won the Innovation award at the at the March 2022 Cryptocurrency Conference in Dubai, the country where DecentraBNB company also houses its headquarters, and has recently undergone a complete brand and image shift in time for its official release. In that regard, DecentraBNB will fair-launch on the Ethereum network via Pinksale on Friday July 1 at 3PM UTC, and will bridge to the Binance Smart Chain shortly afterwards, due to the latter’s lower gas fees, ensuring minimal charges to the end user. The project is also set to quickly be listed on XY Finance, which allows cross-chain cryptocurrency transactions.
Given that the travel industry remains one of the world’s most profitable market, currently valued at over $8 trillion dollars, but remains largely monopolised by a small number of companies, it is only logical that an evolution is on the horizon. A shift towards a decentralised modality of travel therefore seems inevitable, given the recent blowback against big business and its misuse of market pricing, traffic flow, and particularly personal data. To this end, DecentraBNB aims to not simply emulate current industry leaders, such as Airbnb and Booking.com, but surpass them by providing more autonomy, transparency, and connection on both the consumer and business sides.
Arriving at a pivotal time of shifting business and consumer interaction gives DecentraBNB the capability to be a major disruptor in the sector. If the project can capitalise on its innovative idea and scale in tandem to the increasing adoption of decentralised finance, then it could well be a project worth keeping a keen eye on.