First of all, I’ll love to start with what Abab is. Abab.io is a decentralized marketspace for accommodation rentals where a blockchain allows to reduce the commission and solves the issue of trust between the host and the guest by formalizing the rules of interaction in a smart contract and introducing a system for the validation of the identity and rating of the system user. This interaction between the guest and the host was achieved by Airbnb.
In short, The Abab team will allow the rental market to become truly decentralized with reducing costs, preserving safety and personalizing the offer to the guest.
Now, let’s see what Abab is offering. Let’s start with ABABCOIN . AbabCoin is a cryptocurrency token of a limited release, with which the settlements in the Abab.io network are conducted. The rental price can be indicated either in AbabCoin units or in traditional currencies that will be converted into AbabCoin units at the time of booking. The partner can settle with both guests and hosts in traditional currencies by converting into AbabCoin units independently. AbabCoin is fixed by a smart contract from the time of booking to the departure of the guest.
BENEFIT AND FEATURES OF ABAB GENERALLY
I know you must be thinking what you’ll gain investing in Abab. Now check out its cool feature. Trust me, you wanna invest.
Abab team implements on a blockchain a single database of guests and hosts comprising information about all the postings by the hosts, all the transactions between the guests and the hosts, and the system of bookings and settlements between the guest, the host and the partner. The partners are third-party developers of services and interfaces for both hosts and guests. They may provide various terms and service sets at their own discretion (commissions, email and/or phone support, discounts, promotions, etc.). The openness of the technology and the partners’ commissions registered at the protocol level will enable the partners to build their own business, conveying to the guests the hosts’ offers in the most convenient way, without fearing the domination of the owner of the database. The interaction between hosts and guests
- The host, using the partner’s application, posts rental information including available dates in the blockchain. A partner’s application can be anything, including a website, a mobile application, a chat robot, a travel agency, a manager calling clients, - in short, any interface with a guest that the partner decided to actualize;
- Information on available rentals via the blockchain is synchronized with the databases of all partners;
- Guests, using one of the partner’s app, search for suitable offers;
- The guest books the accommodation; at that time, AbabCoin gets blocked on the smart contract. The conversion of fiat funds into AbabCoin units is carried out by the partner. The funds are transferred to the host daily from the date of moving in, with a delay of 24 hours (thus providing the opportunity for opening a dispute)
- The host confirms the booking (the host has the option to enable automatic confirmation)
- After moving out, the guest leaves a comment that affects the host’s rating, while the host leaves a comment that affects the rating of the guest.
Now generally, Abab features include:
Message exchange, storing of image and text, The rating system.
Cryptocurrency profit in general doesn’t have to do with the present but the future potential of the investment. Now checkout the benefit of investing in Abab in relation to its estimated potential.
The Estimated Cost of AbabCoin Tokens in the Future With the current global volume of the short-term rental market amounting to $100 billion annually and a market share of 10%, assuming that the accommodations are booked, on the average, one month before the trip, we will calculate that the AbabCoin tokens blocked in reservations only should be worth $833 million. This alone brings the value of the coin to 83 cents. Given that some of the coins will be held in the stabilization reserves of the partners, some others, in ABAB.DAO, and some others still, retained by users for investment purposes or saved for vacation spending, it can be assumed that the value of the coin will be even higher. Besides, when implementing the service for short-term rentals it may be replicated to other types of rentals, which will also increase demand for AbabCoin tokens. Airbnb, accounting for 1% of the short-term rental market, with a forecast of 10% for 2020, has a $30 billion capitalization. Under an equal market capitalization of AbabCoin the cost of one token will be $30.
This will lead to Abab ICO review
For more information on ABAB. IO, check out the white paper. And follow the links below.
Official webpage: http://abab.io/
White paper: http://abab.io/wp.pdf
ANN thread: https://bitcointalk.org/index.php?topic=2004423
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=880386