BitBook is a travel platform that is still in the IEO process, where people can earn tokens when booking travel and accommodation. It is built on Binance Smart Chain. The platform was built with a focus on scalable growth for everyone to benefit from. It provides passive income to users who create and share travel content. Their mission is to enable more people to experience the world and to create an autonomous, self-sustaining digital economy.
More than 1.3 billion people travel around the world each year. The hotel industry is worth $528 billion annually and is expected to double by 2030. Currently, 90% of the booking market is dominated by the two big platforms Booking.com and Trip Advisor. Tackling high commission fees has become the industry's biggest challenge, as hotels are completely dependent on these sites. Trying to compete with these corporate giants would be a lost cause from the start. The smart way is to play another game entirely. Based on simple observations, blockchain technology was identified as a tremendous opportunity to take on this battle and BitBook was created.
Today, commissions applied to hotels vary between 15% and 30%. In addition, a payment processor is also required to process the transaction, adding about 3% more to the total price. Who pays for this? User.
After 3 years of intense work with the CEOs and Board of Directors of some of the largest hotel chains, it was concluded that the industry's biggest challenge is tackling high commission fees and that the traditional playbook only benefits booking companies.
BitBook's business model will be split into three different revenue streams:
Competitive commission model for every booking made on the BitBook platform.
Third party products (Insurance, flight, car rental, etc.)
Advertising to enable partners to offer related products and services.
100% of the revenue streams will be used to repurchase tokens from the market, which will then be burned and reduce the total circulating supply which will increase the value of the BitBook token.
For What Purpose Will the BitBook Platform Be Used?
BitBook will have a monthly prize pool that will provide token rewards for creators and influencers. Token rewards will encourage these users to use the website. More visitors will result in greater adoption of the platform and token. More adoption will likewise increase the value of the token and will be an incentive to produce more content.
Visitors will be attracted through relevant content created by the BitBook community, website visitors will turn into registered users, these users will become customers who will be rewarded for travel bookings.
How Will BitBook Reward Content Creators?
BitBook rewards content creators who drive traffic to the site. Creators earn BBT tokens when they create quality travel content. Every content will be pre-approved to ensure good quality and prevent plagiarism (copy content) as well as inappropriate content.
BitBook continues to reward creators and influencers to grow the community. For each new user brought to the BitBook platform and for each month that these users are active in the future, the referrer will be rewarded with BTT token passive income.
In addition, users who book holidays, hotels and trips through the BitBook platform and share their experiences with the accommodation provider are also rewarded with BTT tokens.
Accommodation providers solve their biggest challenges by taking advantage of the low commission structure and increase their profits on each of their bookings.
The BitBook community benefits from increased traffic and site adoption as the value of the BitBook token increases.
BitBook Products and Services
Travel Content
This will give creators the ability to earn BitBook tokens when they create and share quality travel content such as videos, images, blog posts and hotel reviews on the BitBook platform.
Travel Reservation
BitBook not only gives accommodation providers the ability to offer their spaces directly to guests, but also encourages bookings and reviews by rewarding travelers who complete their stay with BBT tokens. This creates the most cost-effective way to travel for the traveler, providing the best possible vacation at the cheapest price.
Travel Products
It will give users the ability to purchase travel-related products and services on BitBook's website. The more traffic on the website, the better opportunities can be provided for the community. BitBook will earn an affiliate commission per item sold, which does not adversely affect the end user's price. It also increases the token value as 100% of the profits will be used to buy back the tokens.
Travel for Business
The travel management solution companies will use for their business trips will be BitBook. Reporting and budgeting features will be included for free. It will also enable businesses to easily use a universal cryptocurrency for travel costs.
BitBook envisions rolling out more features over time. BitBook will start rolling out some of these new features after the token sale.
BitBook's CEO is Nick van der Kolk of TravelPerk, its CSA is Perry Kniest of KuCoin, and its CTO is Aleksandar Pupovac of DevoTeam Serbia. The project has a young and competent developer team.
After the IEO is complete, 100% of the circulating supply will be sold and placed on the open market. The team has the full plan and knowledge of how to execute the business plan.