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Peer-to-peer (P2P) companies like Airbnb and Uber are considered trailblazers of the sharing economy. After all, they promise sharing the value of assets within their networks, lower transaction fees, and a platform for trusted and secure transactions. However, analysis of their business model more accurately reflects an “access economy” that requires users to pay a commission for access to their platform resulting in a concentrated distribution of ownership, double-digit transaction fees, alongside increasing reports of security breaches and data manipulation.
Enter Beenest, a decentralized housing platform hosted on the Ethereum blockchain. Beenest utilizes its in-house Bee Token providing a seamless user experience in the short-term housing rental market. Beenest provides all major functions between Hosts and Guest while sharing success amongst users, charging 0% commissions, and providing a secure platform for identity validation, payment verification and genuine reviews.
With strong growth in the short-term housing market and the growing acceptance of Ethereum and cryptocurrencies, Beenest will emerge as the leader of the short-term housing market and set the standard for real-life applications in cryptocurrency.
0% Commissions
Decentralized platform eliminates the middleman
Aligned Incentives
Tokens distributed through presale and ICO
Security
Bank-level security through Blockchain technology
Trust
Transparent practices with immutable feedback
Beenest is a home sharing platform for hosts to list their homes and for guests to find accommodations.
Bee Protocols are a set of Ethereum smart contracts providing developers the tools to rapidly launch new decentralized applications.
Q3-Q4 2017
Q3 2017 — pre-ICO
Q1-Q2 2018
Q4 2017 — ICO
Q3-Q4 2018
Q1 2018
2019
Q2 2018
2020+
Q3-Q4 2018
2019-2020
2020+
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:
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.
Concerns:
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.
Conclusion
Overall, we like both the short- and long-term potential for this ICO. Our thoughts of the tokens for short term and long term are as follows:
For short-term holding
Good. The project has a strong team and advisors, and is attracting high market awareness over one month before the crowdsale.
With (1) the low hard cap of $15 million, and (2) all bonus tokens being locked up for 1 month which mitigates dumping right after BEE tokens begin traded, we believe the project can meet hard cap with unmet demand in the current market environment.
For long-term holding
Good. Beenest’s home-sharing idea has a large impact with substantial potential. The project also benefits from the growing pain of ever increasing property and rental prices.
The project enjoys a first mover advantage to provide decentralized home-sharing solutions. We believe the team has the vision and capabilities to capture a meaningful market share in at least the tech/crypto subset of the homesharing market.
A very nice idea which is currently being led by a strong team to match. There is a good vision in place as well. I look forward to seeing the development of this idea
BeeToken is a powerful project in the home sharing field, backed by a very powerful team and including a number of important mechanisms to ensure the service’s functions, particularly the reputation protocol. Another important note is that BeeToken has a number of partnerships and will synergize with several other projects: Request Network, Rentivo, Connext, Origin.
Of course, the project will have to compete with AirBnB, but thankfully, prevailing over this competitor is not an absolute necessity. It is very possible that Beenest manages to find its place next to the competitor, within its own niche. Furthermore, despite a fairly clear roadmap, project expansion doesn’t seem all that fast, with only 5 US cities planned for inclusion by the end of 2019. The project is still attractive both in the long-term and in the short-term, as it sports a low hard cap and all bonus tokens are locked for 1 month, which should prevent dumping.
