After many months without travel, the 20-month COVID-19 travel ban was finally lifted to the United States, affecting all non-U.S. citizens from over 30 countries. With countries slowly reopening, travel has once again become top of mind to the world, with expectations that more and more countries will begin loosening their restrictions in response to the actions of the U.S.
Unfortunately, with a rising number of people looking to travel again, prices are following closely behind. Gas prices, airfare and hotels are all reaching new heights as travelers and vacationers try to snatch up whatever is available. Unfortunately, for many, this means paying more for a vacation than they might be able to and even missing out on the trip of their dreams.
Although it might come as a surprise, the capabilities of blockchain technology may be able to address this sudden rise in prices. BitBook, a platform launched in October, provides its community with opportunities to book travel and earn crypto. Everyone deserves to travel, and BitBook is making this reality possible by rewarding people who book through their site, invite others or create compelling content.
Operating with a community focus, BitBook is making travel rewarding in more ways than experience, with a diverse set of offerings that now include access to over 400,000 hotels, over 300 airlines and car rentals from Hertz and Sixtz.
Competing in the traditional market
BitBook was founded by a knowledgeable team of technical experts, including two of the executives from KuCoin. Upon looking at the current travel industry, they noticed that blockchain technology could present a very real opportunity to compete in a market dominated by two major players, the Expedia group and Booking holdings, who currently account for over 90% of the market share.
Unfortunately, this has left hotels forced to pay large commissions on bookings (sometimes up to 30%, and 3-5% for payment processing), with the added costs being driven up for the end-consumer, which also makes it almost impossible for startups to compete with the industry giants.
The industry and their travelers may have had no choice before, but BitBook has recognized this as a clear gap in the market that they could address.
When discussing their strategy to disrupt the travel industry, Nick van der Kolk, the CEO of BitBook shares,
“When David is fighting Goliath, you win by not fighting in Goliath’s game.
This is our strategy at BitBook; we can do things that you can only do by having a cryptocurrency token, focusing on value for travelers, influencers and token holders. Since our launch, people who booked a hotel on BitBook.net got around 60% cashback on their booking.”
The team has since decided to play a different game, disrupting the industry with a growing community and no venture capital.
In alignment with this tactic, the team is working alongside big industry names like Priceline, with partnerships that look to provide accommodations and extensive customer care for their visitors.
Earning through travel
Opportunities for earning take place through several provisions. First and foremost, users can earn BBT tokens from booking their trips through the platform. Alternatively, they may earn passive income when their network books a trip. As their collection of BBT tokens grows, users can also earn passive income through the process of staking.
Most recently, BitBook has also announced the upcoming release of the “Create and Earn” section of their platform, where they expect to reward people that create content for reaching the person they influence and bring to the platform. These rewards are set to provide earnings as the new travelers book vacation on the platform for the next 20 years.
The team believes it pays to travel and is operating a platform that proves this.
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