Booking Token Unit (BTU) Protocol
An open protocol for decentralized reservation
An open protocol for decentralized reservation
OFFICIAL BTU ANN THREAD
WEBSITE | TELEGRAM COMMUNITY | TELEGRAM ANNOUNCEMENT | TWITTER | MEDIUM | LINKEDIN | FACEBOOK
The Booking Token Unit (BTU) protocol is a standardized building block for any decentralized application (dApp) or web site willing to implement booking features for their end-users. The BTU protocol also brings interoperability among decentralized applications that incorporate it.
All platforms implementing the BTU protocol would benefit from a hybrid approach combining an on-chain smart contract and off-chain software components, providing more scalability. A transparent and public inventory enabled by an open-source protocol would considerably lower the entry barriers to many internet booking markets.
All platforms implementing the BTU protocol would benefit from a hybrid approach combining an on-chain smart contract and off-chain software components, providing more scalability. A transparent and public inventory enabled by an open-source protocol would considerably lower the entry barriers to many internet booking markets.
The Pain
In all booking platforms, centralization led to an unbalanced situation with online platforms getting more and more power over the actual service providers who bear the operational costs and investments. As a result, service providers are experiencing high commission fees ranging from 15% to 35%. Those fees are paid to the centralized “winner takes all” booking platforms.
The Benefits
With blockchain networks emerging as the new global infrastructure, we have the opportunity to create vastly different power structures.
- A public inventory and an open protocol lowers operational costs while allowing a fair competition between a higher number of market participants.
- It should also encourage a new wave of developers to deliver innovative and open services, leading to better functioning markets.
- Innovative offerings could be built that enable the booking of bundled services.
- Existing players in one industry could offer new services to their existing customers (cross-sales).
Uses Cases
Our protocol could be used to book many of the following services:
- Hotels and Apartments
- Offices, Studios and Warehouses
- Cars, Flights, Jets, Trains, Buses, Yachts and Ferries
- Tours, Holiday packages, Cruises, Visits and Museums
- Shows, Sports, Events and Restaurants
- Medical and Well-being appointments
- Computer resources and Token sale booking
- Tests, Photographers, Guides, Caterers, Car repair...
The BTU token
The BTU protocol is being standardized as ERC-808 and requires the use of the Ethereum-based BTU token. The role of the BTU token is to drive the network of participants to behave rationally and with economic interests aligned:
- Deposit value for booking a resource: The deposit is an incentive for any Booker to cancel its reservation in time. If the resource is not released, the deposit will be kept by the resource owner.
- Reward mechanisms: BTU tokens can be used to reward usage of the protocol. In essence, Bookers are effectively rewarded with tokens as they are “mining” successful bookings.
- Anti-spam parameters are also making use of token staking in order to enforce fair use.
- Different industries could adopt the same token, thereby amplifying the network effects that would otherwise be limited to one industry.
Founders
Vidal CHRIQUI
- Recognized Bitcoin & Ethereum Expert
- Advisor to Blockchain Startups
- Ecole des Mines de Paris
Hervé HABABOU
- Serial Software Entrepreneur
- Investor in Blockchain and A.I
- MS CS & London Business School