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Blockchain-driven home sharing platform PopulStay raises $2.25 million

Date:2018-07-12 14:56Source:ChinaTravelNews ReadingNumber: Times

Based on blockchain technology, PopulStay hopes to build a home sharing community by directly connecting hosts and guests, and lower the cost for both parties by doing away with intermediaries.

PopulStay, a decentralized house booking community and travel service management platform, has received RMB 15 million (USD 2.25 million) investment, backed by Bitmain, Handsome Capital, Sharp Eye Capital and Jove Capital. 

Based on blockchain technology, PopulStay directly connects hosts and guests, and lowers the cost for both parties by doing away with intermediaries. It only charges 0.02% handling fees, while traditional platforms charge 1% to 4% service fees.

PopulStay founder Mr. Walter Wang pointed out the three features of the platform:  

    * Booking: Unlike traditional B&B platforms that uses text communication through APPs, PopulStay enables voice or video chats between hosts and guests. 

    * Payment: Customer can pay with any legal fiat currency or BCH, Ether coins and other cryptocurrencies.

    * Business model: PopulStay releases its own tokens and increases the value of the tokens through increasing the volume of transactions. The platform also supplies services on customized travel routes, chartered vehicles, gourmet shopping guides, tourist attraction navigation and others.

PopulStay confirms transactions and stores rating and review information with Ethereum and Quantum technology. Token holders can leave reviews and comments, and hosts can hand out tokens to attract customers. Customers also receive tokens as incentives based on the length of their stay and their booking history and reviews. Tokens are also used as an incentive to encourage users to find vulnerabilities and defects in the products.

PopulStay is working with Ostay, Febow, Tourcandy, Easygo and other travel service agencies. Its listings include 2,000 accommodation choices in Japan, 600 Michelin-starred Japanese restaurants and 300 B&B units in Singapore.

As the product is still in the testing stage, the platform is recruiting users to provide feedback on their experience.

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