Concierge has introduced a decentralized booking platform that is based on NEO’s blockchain network with a view to offering vendors and travelers an ecosystem through which they can interact peer-to-peer thus eliminating third parties and the costs that come with it. This will consequently level the playing field as it is currently tilted in favor of the big online services such as Airbnb and Booking.com to the detriment of the smaller players.
Currently more than 76% of hospitality sector’s revenues are generated via online travel services and currently there are five big players who dominate the lucrative sector. This has led to high fees and lack of innovation and progress. The commissions that platforms such as Airbnb and Booking.com get amount up to 30% or even 50% of every booking. This not only reduces what vendors make but also makes it expensive for consumers.
Some of the advantages that users will be able to enjoy on the travel booking marketplace of Concierge include instant booking. With instant booking users will not be required to wait a couple of hours before the receive confirmation since the distributed ledger technology will make it possible for live updates.
Users will also get to enjoy lower operational costs as the interaction will be peer-to-peer. Additionally the interface has been optimized with the user in mind and both the mobile and web platforms will work seamlessly.
Initial Coin Offering
The native currency of Concierge’s platform will be CGE and this token will be issued in the course of the Initial Coin Offering. Thus users of virtual currencies will pay for their bookings as well as other services using CGE. It will also be possible to pay for bookings using traditional currencies and this will attract a small fee.
The pre-sale round of CGE has also been successfully completed and the crowd sale’s main stage will run throughout the month of April. Concierge is targeting to issue tokens numbering 100 million and 65 million of these will be put up for sale. Since it is based on NEO distributed ledger technology platform the main virtual currency that will be accepted is NEO.