EMPIRE HOTELS: ENSURING EFFICIENT HOTEL SERVICES WITH BLOCKCHAIN TECHNOLOGY

emmy92 (42)in #hotel • 5 years ago

In the world today, the hospitality industry and as such hotels are growing tremendously, this can be attributed to its way of offering shelter in times of need or offering entrainment as the case may be. In the same way, owing to its importance as well as the fact most people now opt for an easy way to do things, technological innovations have been implemented to ensure convenience and comfort, that is one can stay in his own house and book for a room in any hotel he pleases.

Then on the other hand, in the world today there is a trending technology known as blockchain technology. It is a trending technology owing to the possibilities and potentials associated with it, such as easy way of doing any related transactions via the aid of smart contracts; with this smart contracts any transaction that takes place can't be manipulated or interrupted. Also, blockchain technology offers decentralization which ensures any transaction taking place is limited to only the parties involved, that is to say, no data breaches etc.
Thus, owing to what blockchain offers, a team of experts aims to bring blockchain to the hospitality industry (hotels), this then gave rise to Empire Hotels.

WHY EMPIRE HOTELS?

A study has shown that with the invention of online booking, the hotel business boomed thus resulting in more amazing customer services but this came with a detriment which is an increase of about 15-20% in booking expenses for guest. In addition to the aforementioned challenge, there are others which are causing both pains and discomfort for users or in this case guests. One of the issues is double booking, although many efficient staffs have succeeded in managing hotels very well, in most cases rooms are still double booked. And to solve this issue, the hotel management always losses in the sense that in order to maintain their reputation while ensuring the second booker or guest gets happy they end up either giving the guest a more better room which is higher than the previously booked or books a room for the guest in another hotel.

In the same way, hotels reputations can be at risk when an incorrect data surfaces, that is a guest booking for a particular room and ends up getting another, although the case will be solved what about the reputation? That's a big question to answer.
However, it can't be disputed about the number of online booking platforms in the hospitality industry, but there is a fact which stands and that is, the current online booking system supports only one type of currency which is fiat.
Another issue which causes concern is the fact that there is an intermediary (financial body) between the online booking platform and hoteliers, thus charging a fee for the processing of transactions. Other issues include platform maintenance, foreign and currency conversion fees etc.

WHAT EMPIRE HOTELS AIMS TO ACHIEVE

Empire Hotels is a blockchain-based hospitality platform offering hotel services which will be efficient and cost-effective for guests. Empire Hotels achieves this by leveraging blockchain technology thus removing any form of Intermediaries while transacting parties deals on a peer-to-peer basis. Also, with blockchain technology and as such decentralization, guests data will be duly managed and secured.

As one of the characteristics of blockchain technology is cryptocurrency, thus with Empire Hotels being a blockchain-based platform, it will have its own currency which will be used to ensure better services is offered to guests, which also includes the integration of the platform's API with related systems.

Why Empire Hotels Is Capable Of Revolutionizing The Hotel Industry

Empire Hotels will offer a cheaper and easier way of booking for a room which will be done via cryptocurrency, through this way removing unnecessary transactions costs, foreign and currency conversion fees. The advantage of this is, there will be no Intermediary thus more profits for hotels.
In the same way, with the aid of blockchain technology, transactions will occur on a peer-to-peer basis thus resulting to a transparent, reliable, secure and trustworthy platform where all details will be encrypted and saved in the associating transactions so as to secure guests from fraudulent activities.
In addition, Empire Hotels aims to solve issues about double booking by leveraging the blockchain and with its decentralized nature, before booking a room, the room will be verified before the transaction can be completed.

Furthermore, Empire Hotels has an already developed product; Minimum Viable Product, which is duly built thus having an API, a guest module and host module which are all integrated with a fully functional cryptocurrency wallet.

CONCLUSION

Empire Hotels aims to create a blockchain platform which will be efficient for guests thereby helping in solving underlying challenges in the hospitality industry.
The token of the platform will be known as Empire Cash (EMPC), it is this token that will power the platform. It has a total supply of 1,350,000,000 and can be used by Hotel Managers, Guests and Arbitrators.