Airbnb has a new competitor. Emirates-based CryptoBnB is looking to match users with places to stay by using blockchain technology, and it’s launching an initial coin offering in two weeks.
CEO Tariq AlWahedi told Cheddar that while his company’s name is similar to Airbnb’s, he’s not worried about any potential confusions, since the applications are “totally different.”
“We were not trying to imitate Airbnb over here. The idea was that we wanted to build a platform in cryptocurrency that serves bed and breakfast,” he said. “We are building a decentralized network over here to enable trust.”
CryptoBnB is betting on blockchain technology to ensure safety, and to provide information that both hosts and renters can trust, something Airbnb has been accused of lacking. Still, Airbnb has, in the last decade, amassed 4 millions listings worldwide, It operates in over 191 countries, and has hosted more than 260 million guests. CryptoBnb has not launched its services yet.
And while the short-term lodging company has grown exponentially, the hotel industry and local governments have made efforts to crack down on the company, due to concerns that it's saturating the rental market and driving prices up.
In terms of the potential legal woes that come with the industry, AlWahedi says his company is looking at regulations as they change, and that CryptoBnB’s person-to-person system allows users to abide by local laws.
“I think this is the trouble that other platforms that are centralized get into,” he said. “But here, it would be a [platform] where people can showcase what they have.”
For full interview [click here](https://cheddar.com/videos/meet-the-airbnb-for-crypto).
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
