EzyStayz: Integrating Blockchain Technology In Hospitality Sector

in blockchain •  4 years ago 

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EztStayz is an Australian-owned global platform to open the holiday rental market to individuals across the globe. Which envision is to provide an interesting place that lets people explore, meet, connect and travel without limitations, EzyStayz was founded in 2016 with the intent to unite tenants and landlords and simplify the rental process. Today EzyStayz has raised about $1.5 million in private capital investment funds and this fund is being invested back in the development and upgrade of EzyStayz architecture and service offering.
Currently, EzyStayz boasts rental properties in 34,000 cities and 195 countries. Its portfolio includes 1,892+ Hotel Chains and 1Million+ Accommodations (Hotels, Hostels, Villas, Apartments, and more) worldwide. EzyStayz is ideally positioned for the short and long-term vacation real estate space with an already operational business that will operate internationally and ensure a fair, frictionless, and seamless vacation rental process for all parties involved.
By upgrading the EzyStayz Platform it has chosen to inaugurate the power of Blockchain technology which will speed up the process of matching homeowners with suitable short-term tenants. EzyStayz is creating a new a new stream of income with minimal transaction fees for property owners and a channel for vacation rentals for travelers that is cheaper than leading competitors such as Booking.com, Expedia, and Airbnb. By removing the barriers of currency, and tax regulations anywhere in the world, EzyStayz is remaking the way you travel, host, and explore.

Why Blockchain Technology:
Promising Future For Hospitality Sector With Blockchain: Today, Cryptocurrency and blockchain, has rapidly turned to a disruptive technology in the society, yet it is still in its early stages of adoption. Consequently, many new cryptocurrency platforms fail to bridge the gap between technical complexity and usability of blockchain for the hospitality sector as an early implementer. The potential in this growing market along with an increasing acceptance of cryptocurrencies makes new projects extremely appealing for investors and users alike.

Having easy-to-use, secure blockchain technology in place that integrates P2P exchange between hosts and occupants, credit card capability, and extends into identity verification, total transaction transparency and lower usage fees is the next step logical step for the hospitality industry. Addressing existing problems of centralized platforms like AirBnb, Expedia and Booking.com will provide an alternative one-stop marketplace and online service for consumers, where they can access a variety of properties and accommodation types and speed up the process of leasing out real estate. The result will boost user trust and take security to the next level for property owners and vacation renters.

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Blockchain-based hospitality platforms can unleash enormous powers, which would not materialize in a centralized setup. EzyStayz follows the design principles of simplicity and minimal risk. Building a secure, high-performance marketplace and platform for short-term rent and lease of properties on a global scale is technically and ¦nancially feasible. Thus, our focus is now on establishing a trusted network that allows a compromise between usability, profitability, and security in an already saturated market.

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Fast Transactions And Payment With Cryptocurrency: Transmission of payments globally in multiple currencies with complete security and without the interference of banks or governments make cryptocurrency an ideal solution for payments in emerging markets and third world countries. Because the majority of the world's population continues to be unbanked having the option to pay for goods and services with just Smartphones and Computers connected to the internet will bridge the gap between the digital economy and e-commerce. And because cryptocurrency transactions are irreversible without the receiver's consent, the risk of fraud and chargebacks is mitigated which is a benefit in B2C eCommerce. With 7million people already using apps that allow them to pay with cryptocurrencies for goods and services, the introduction of a blockchain-based module and infrastructure into the EzyStayz platform will tie together all components to ensure speed, transparency, and cost-efficiency in transacting with fiat and cryptocurrency for hotels, landlords and tenants.

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Smart Contracts: The Core of the EzyStayz project is the Ethereum smart contracts and tokens that are not passive but active on different levels. One of the most common types of real estate fraud in rental scams, in which a scam-artist will copy details and photos from a real listing, then re-post on another site while posing as the agent responsible for the property.

The cornerstone of any reliable security system is authentication and the adoption of smart contracts will enable EzyStayz to solve the common issues of the property rental market, which are a lack of transparency and efficiency, and a higher incidence of inaccuracies that creates a greater potential for fraud. By offering a 100 percent incorruptible resource, whereby the sender and recipient of funds were logged, and where digital ownership certificates for properties are saved, the blockchain would effectively make forged ownership documents and false listings a thing of the past. The unique digital ownership certificate would be almost impossible to replicate and would be directly linked to one property in the system, making selling or advertising properties you don't own part of property DNA.

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Putting these smart contracts on the blockchain will give a strong element of permanence and immutability attached to them, which will;
• Enable near real-time settlement of recorded transactions, removing friction and reducing risk, but also limiting the ability to chargeback or cancel transactions. Allow any two parties to transact directly with each other without the need for a trusted third party.
• Retain a public history of transactions and a secure source of proof that the transaction occurred on the blockchain.
• The automation of parts of our business processes in the short run and possibly entire processes in the long run through the use of smart contracts will significantly reduce the costs associated with areas such as compliance, record keeping, and manual intervention.

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Conclusion:
EzyStayz is a unique blockchain-based marketplace that connects travelers and hosts through a smart contract platform that is decentralized, immutable, and transparent. It has the potential to dramatically reduce transaction costs from business, as usual, it is secure and protects customer privacy. The end goal is retaining EzyStayz's exclusive status of a short term rental platform that guarantees full transparency and security of transactions with optional fees for hosts and tenants.

Useful Links:
Website: https://io.ezystayz.com/
Telegram: https://t.me/EzyStayzofficial
Twitter: https://twitter.com/ezystayz2014
Instagram: https://www.instagram.com/ezystayz/
YouTube: https://www.youtube.com/channel/UCDvQOHa-9pwh_PEEsgjsFWQ/featured
Medium: https://medium.com/@ezystayz
Facebook: https://www.facebook.com/EzyStayz-482400071941656/

Writers Details
Bitcoin username: Chika08

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Projects like EztStayz that are providing genuine solutions are really helping blockchain technology