Check out Crush Crypto's ICO Review: Bee Token (BEE) - Decentralized Home-Sharing Network
"Bee Token’s protocol aims to eliminate the middleman in the home-sharing market.
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Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
What does the company/project do?
Bee Token’s protocol aims to eliminate the middleman in the home-sharing market, and allow short-term home renters and tenants to directly transact with each other on the Beenest Platform.
Hosts and guests both benefit from the lower commission charge on all transactions on the Beenest Platform compared to other websites like AirBNB and VRBO.
Beenest also has protocols in place for resolving disputes, as well as managing reputation scores for users on their platform.
What are the tokens used for and how can token holders make money?
BEE tokens will be used to make transactions on the Beenest platform with 0% commissions as opposed to a 1% commission for BTC, ETH and other ERC20 tokens, and 3.99% for fiat.
BEE can also be staked in order to be selected as an arbiter in Beenest’s arbitration protocol. The more BEE tokens a user has staked, the greater the likelihood of being selected as an arbiter and being paid a flat rate of BEE token per dispute the user votes on.
With 0% commissions on transactions paid in BEE as opposed to 3.99% using fiat, users are heavily incentivized to use BEE tokens on the platform. BEE token holders who want to take part of being an arbiter also need to stake their BEE tokens, thus reducing the transaction velocity of the token.
The utility value of BEE tokens should appreciate as more users begin using Beenest in order to find a short-term home rental.
- Beenest is a solution that can save both hosts and guests large amounts of money, and is badly needed amid record housing and rental prices.
- The team is comprised of members from reputable tech companies such as Uber, Facebook, and Google. They also seem to have good connections around the startup scene with the partnerships that they have already established.
- The white paper is detailed in both the technical details and business plan which states their go-to-market and user acquisition strategy – without a plan to gain traction, it doesn’t matter if a project has the best technology in the world.
- Bee Protocol allows other sharing economy dApps to be built on top of it, further increasing the potential upside of the project should those dApps become successful.
- Beenest is going against AirBnb which is a very strong and efficient operator. With that said, Beenest doesn’t need to take down AirBnb to enjoy success – it can serve a subset of the market and still thrive.
- The expansion plan seems to be on the slow side with only 5 US cities by the end of 2019.
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video."