Booking hotels can be an expensive consumer activity once commissions are added. And few reservation services offer rewards or reasons for travelers who wish to return to the platform, which leads to a "comparison engine" lifestyle.
A hotel reservation platform that uses blockchain technology, GOeureka has released the alpha version of its platform, which allows users to book hotel rooms with zero commissions and receive loyalty rewards and benefits, all without hidden costs.
GOeureka is leading many similar blockchain projects, with test bookings on the blockchain via smart contracts on Ethereum and a significant hotel infrastructure available. His advice includes C-level executives from Accor Hotels and Agoda, among others.
"Smart ERC-20 contracts will be used for security and data immutability across the platform," GOeureka founder and CEO Manraj Rai told me. "To increase performance and minimize transaction fees, individual transactions and bookings will be kept outside the blockchain. All transactions will be settled out of the chain and the transactions will be aggregated every day and sent through the contract clever to be validated and stored on the blockchain. "
The problem that GOeureka is solving is well known. The existing hotel reservation infrastructure is controlled by a handful of booking sites that charge a commission of between 10 and 30% in addition to the room rate. Even these rates are not transparent, so consumers do not see how they are calculated. This means that the retail price of a single room varies widely depending on the transactions between the hotel, the bed bank wholesaler and the online booking site.
GOeureka's goal is simple. He wants to reduce the cost of hotel reservations, offer transparency and consistency and cut intermediaries, letting the hotel settle directly with the client. It also allows the traveler to accumulate benefits and benefits. For hotels, this allows them to minimize the supply chain, making operations cheaper and more efficient.
Blockchain technology and smart contracts are ideal for solving these problems and offering consumers cheaper, faster and more transparent offers.
"GOeureka has chosen the Ethereum blockchain because of its flexible and extensible nature," said Rai. "The use of Ethereum's smart contracts allows the creation of autonomous agents that can be implemented in the GOeureka platform to automate many processes and remove various third parties that usually involve a slower process and multiple transaction costs leading to high costs".
The reward program is a significant part of the platform. Help GOeureka increase loyalty both for themselves and for their partners. The company plans to expand this offer beyond hotels, however.
"Like any loyalty program, we reward users for transactions on our platform, and each GOeureka user will accumulate reward points / credits for repeated bookings and these can then be used to unlock additional travel prizes, such as additional discounted fares, airport transfers. free and so on ", said Rai. "These awards will not be limited to the GOeureka platform, as we are also working on collaborations / partnerships with other companies and planning to open up the usability of our points in the retail sector and other areas of the hospitality industry. . "
So, what is the future for GOeureka?
"We already have a functioning web platform with over 400,000 properties available for booking worldwide and that we have used internally to book hotel stays in cities such as London, Dubai, New York, Singapore and Malaysia," said Rai . "We have also opened test bookings to a group of beta testers and we will collect and analyze their feedback in the coming weeks.The current version only accepts payments via fiat, so the next phase is very focused on enabling cryptocurrency payments. and checking booking on the blockchain with our partner hotels. "
In addition to the company roadmap, it will offer a winning investor in its token that offers free hotel access for life. This offer is accompanied by some warnings, however.
The offer includes 15 free nights per year with a $ 250 per night roof, which equates to $ 3,750 a year. In the course of a 50-year life, this amounts to approximately $ 187,500, which equates to 1,875 million of the company's 1 billion GOeureka tokens. In other words, it is 0.1875% of the total token pool of GOeureka.
"This will be financed by our pool of reserve chips, and the lucky user who has access to this benefit will be entitled to a specific number of free nights in the year for the rest of his life, with a ceiling on the Night-time room rate, "La Rai said" The terms and conditions apply here, and we are also working with our partner hotels to get preferential rates for this promotion. "
The GOeureka token sale is under way and ends on 30 November 2018.