A new blockchain-based hotel booking platform launching today at CES promises to take no commission on bookings and give back about 5% of each transaction to travelers that use the site.
BTU-Hotel is one of the first services being built by Paris-based Booking Token Unit (BTU) Protocol, which describes itself as a “building block for any centralized application or website” that offers booking features for its end users, for example in industries such as travel, finance, healthcare, automotive and more.
BTU Protocol co-founder Vidal Chriqui says the hotel service is launching with inventory primarily provided by CDS Groupe, totaling about two million hotels and other properties worldwide. The system is set up as a metasearch, showing users the lowest rates from more than 110 suppliers, including global distribution systems, online travel agencies and some brand sites.
“When the booking is completed, after you check in, you get 5% back as a reward because you have used our system,” Chriqui says.
“It’s kind of universal loyalty points. It’s in the form of BTU cryptocurrency but you can use it to book other stays or convert it into money or we have an auction to convert them into gift cards.”
BTU Protocol conducted a token sale from March to June 2018 that raised $5.5 million. Chriqui says the system does not take any commission on transactions but rather will make money from the economic exchange of the BTU token.