EzyStayz, an Australian owned international vacation rental platform, is utilizing blockchain technology to bring down costs and improve its home rental services. EzyStayz is already a well-established brand that has been in business for 3 years with quite 155,000 properties in 34,000 cities and 190 countries worldwide. Now, the corporate is looking to the longer term by moving its services onto the blockchain. This move will provide its customers (hosts and travelers) a more transparent, cheaper, and safer means of organizing travel holidays and vacations.
Blockchain technology will significantly improve the business during this area. There are many benefits of using this technology, the most of which is that the elimination of intermediaries, which makes the method much faster and cheaper. At the instant there's gradual development of implementation methods of payment with cryptocurrency. Electronic Commerce, our future, and lots of well-known payment system start accepting digital currency as payment. the benefits of operating platform EzyStayz, will compile all the essential functions and can provide speed and transparency in transactions between users.
The concept of the project is that the decentralization and tokenization, which consistent with the developers EzyStayz will expand the network and make advantages for early investors, owners tokens.
The blockchain allows to decentralize, track and share data, also actually a simplification of the payments. within the future, the most goal is that the introduction of rewards for loyalty to the system and encourages users EzyStayz tokens which will be exchanged for cash or to use for booking future travel.
The use of blockchain, it reports, will provide EzyStayz hosts and travellers with a less expensive and more reliable resource for organising trips and vacations, and unlock a variety of peer-to-peer services for all of its customers.
In addition, the blockchain system comes alongside a multi-signature digital wallet which will store multiple digital currencies. Using the integrated portfolio, EzyStayz users are ready to make crypto payments on its platform securely, without having to believe debit cards or bank accounts, and directly improve the settlement of land transactions on a worldwide scale.
EzyStayz founder James Moses said: “We are excited to be Australia’s only global holiday rental website that's Australian owned, and that we are getting to combat the larger players like Airbnb that have existed within the marketplace for a short time . it'll be good to ascertain Australian dollars staying onshore instead of being sent across to the us .”
Data security
The data inside the blockchain is decentralized by nodes that form the sting of the blockchain, and since there's no error point, the safety of the info is guaranteed.
Immutability
The algorithms utilized in blockchain are designed to avoid any interference, seizure, or correction thanks to the trust chain that ensures that the knowledge doesn't change.
Blockchain applications
Blockchain has served because the basis for technology or other activities, a number of which may be beneficial to the tourism industry. Here are some examples:
Smart contracts
Smart contracts are contracts that are implemented within the blockchain network and take away intermediaries (notaries, banks and others) from this process and are through with less cost and time interval .
Digital ID
There's a lot of mention digital-based projects, like Alastria, which is dominated by influential companies listed on Spain's IBEX 35 exchange market. this technique allows tourism activities like completing tasks to be simplified and having all the knowledge available from one person in one place.
Blockchain within the tourism industry with EzyStayz
Since blockchain can provide greater security and transparency for important technological interactions within the tourism industry, the 2 are often interdependent . A agency that reserves flights and hotels for its passengers must send information to varied institutions. Blockchain can make this action safer and more transparent because its responsibility is spread across the network. an equivalent thing happens with foreign transactions, thus increasing the extent of trust between the parties involved. This video gives a quick overview of how blockchain benefits the tourism industry.
The main purpose
The major market bigwigs that this platform looks to compete with are conventional experienced sharks like Booking.com, Expedia, and Airbnb. Others include rent sharing sites like HomeAway, Roomoram, Flatclub, and Wimdu.com.However, with the advantages that I even have mentioned above, Ezystayz is offering an innovative approach which can give them a substantial advantage both in terms of security and price . Centralized platforms tend to require a clear share of the property owner’s income where you either rent your land at their conditions otherwise you remain within the shadows with none clients.
The fees which will be taken by Ezystayz, however, are going to be negligible compared to the centralized markets. this suggests more profits for property owners and travelers get to enjoy lower accommodation costs. This platform eradicates the worldwide barriers of currency, tax and financial regulations thus enabling people to satisfy , connect and travel empty or anyone limiting them.
The already existing rental platforms are greatly centralized with limited marketing possibilities and high fees for both tenants and landlords.
The rapidly growing crypto ecosystem can't use this new sort of currency to book vacation accommodation while hotels and landlords are becoming gone by this huge opportunity of an enormous revenue stream.
With the presence of multiple intermediaries, a vacation accommodation booking process can become expensive, time-consuming and really frustrating.
there's currently limited control over tenant-landlord interactions and listing features which end in but optimal search results and travel experiences. Nobody wants a mediocre vacation.
Token Economy EzyStayz
Ezystayz’s Mission and Features
• Inviting potential roommates to a suggestion or requesting maintenance services online.
• Crowdsourcing of rental security deposits, which are a big burden for brand spanking new renters without sufficient capital, and after signing the contract they sit unused in bank accounts for years or decades.
• Auctioning technology which allows rental auctions between an owner and a number of other prospective renters. within the current market where more people want to rent than ever before, rental prices are already rising much to the disadvantage of tenants. during a climate like this, rental auctions may contribute to higher prices, and thus benefit the owners alone.
• Raises privacy concerns by getting to implement a proprietary quality score for owners and renters, that they need to access professional records.
• To support the EZY economy and thus our profit source, which enables our minimal commission marketplace
• To support the distributed database, which can cut out commissions from distributors and further contribute to the EZY economy.
• To enable a trustless environment which may be a necessary requirement for the adoption of the distributed database
• To automate payment processing
• To act as highly secure escrow accounts for the amount between booking and check-out.
• To host immutable reviews
Conclusion
"We hope to continue to apply innovative technology that supports the economy of tourism sharing and expansion. The EzyStayz website is the first building block of a larger exchange that will ultimately target businesses and consumers with more strategic B2B tools to exploit the potential of the hospitality sector. "
Go ahead and visit the Ezystayz social media channel and stay on top of all their new features and releases. Your dream vacation destination is just a click away!
WEBSITE: https://io.ezystayz.com/
TELEGRAM: https://t.me/EzyStayzofficial
WHITEPAPER: https://io.ezystayz.com/#/whitepaper
BITCOINTALK: https://bitcointalk.org/index.php?topic=5242599
FACEBOOK: https://www.facebook.com/EzyStayz-482400071941656/
TWITTER: https://twitter.com/ezystayz2014
LINKEDIN: https://in.linkedin.com/company/ezystayz
INSTAGRAM: https://www.instagram.com/ezystayz/
YOUTUBE: https://www.youtube.com/channel/UCDvQOHa-9pwh_PEEsgjsFWQ/featured
Bitcointalk name: longgong