After several months without travel, the 20-month COVID-19 travel ban in the US has finally been lifted, affecting all non-US citizens from more than 30 countries. With countries slowly reopening, travel is once again a major concern in the world, and more and more countries are expected to begin easing restrictions in response to the US measures.
Unfortunately, with more people wanting to travel again, prices are steadily rising. Gasoline, flight, and hotel prices are reaching new heights as travelers and vacationers try to get what’s on offer. Unfortunately for many, this means paying more on vacation than they can afford, and even missing out on a dream trip.
While this may sound like a surprise, the power of blockchain technology can help deal with such a sudden price increase. The BitBook platform, which was launched in October, gives the community the opportunity to book travel and earn cryptocurrency. Everyone has the right to travel, and BitBook makes that possible by rewarding people who book tickets through their site, invite others, or create interesting content.
BitBook operates with a focus on the community and makes travel more rewarding than the experience with a variety of offers that now include access to more than 400,000 hotels and more than 300 airlines and rental cars from Hertz and Sixtz.
Competition in the traditional market
BitBook was founded by a team of experienced technical experts including two KuCoin executives. After looking at the current travel industry, they note that blockchain technology can offer a very real opportunity to compete in a market dominated by two major players, Expedia Group and Booking.com, which today account for more than 90% of the market share.
Unfortunately, this has forced hotels to pay high booking fees (sometimes as high as 30% and 3-5% for payment processing), while increasing additional costs to the end consumer, making competition nearly impossible for startups. with industry giants.
The industry and travelers had no choice before, but BitBook realized that this represented a clear gap in the market that they could fill.
Nick van der Kolk, CEO of BitBook, discusses his strategy to disrupt the travel industry:
“When David fights Goliath, you win without fighting the Goliath match.
This is our strategy at BitBook; We can do what you can only do with crypto tokens, focusing on value for travelers, influencers and token holders. Since our launch, people who have booked hotels on BitBook.net have received nearly 60% cashback for their reservation. ”
Since then, the team has decided to play another game, disrupting the industry thanks to a growing community and a lack of investment capital.
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In line with this tactic, the team works with industry majors such as Priceline through partnerships that strive to provide its visitors with comprehensive customer accommodations and support.
Earning opportunities lie in several provisions. First of all, users can earn BBT tokens by booking tours through the platform. Plus, they can earn passive income when their network books a flight. As their collection of BBT tokens grows, users can also earn passive income through games.
Recently, BitBook also announced the upcoming release of the Create and Earn section of their platform, where they expect to reward people who create content for connecting with the person they influence and bringing them to the platform. These rewards are designed to generate revenue when new travelers book vacations on the platform for the next 20 years.
The team believes the journey is paying off and uses a platform to support that.