The idea behind Bitcoin proved many there was no longer a need for central banks, beginning the movement towards “decentralization.” This movement was accelerated in 2015 with the launch of the Ethereum Blockchain and the introduction of smart contracts, which enables any developer to create a new genre of decentralized applications, commonly referred to as “dApps.” These dApps use the power of the blockchain to allow for secure and trust less asset transfer within the Ethereum network, eliminating the need for centralized middlemen from many business models.
Cryptocurrencies are still in the infancy phase, and blockchain technology provides for the crypto community of possibilities for practical applications that extend far beyond the financial sector. The market of cryptocurrencies has exceeded $498,630,272,732 and climbing at the time of writing this whitepaper.
“Paradise” embraces this technology to open a decentralized direct booking in the travel and tourism sector. Peerâtoâpeer economy applications, typified by Expedia, TripAdvisor, Booking.com, and Priceline have achieved great success in the past few years. However, these platforms charge high commission fees, advertising fees and also payment processing fees from their users in order to run. Huge growth is only enjoyed by a select few VCs and the founders. No interest in the company, very little, if any, of the appreciation value, goes back to the guests and hosts. Thanks to Ethereum smart contracts, it is now possible to build a truly decentralized and automated sharing economy platform. This will be done with no middlemen, 0% fees for advertising, 0% commission fees and by sharing the wealth with the users in a twoâsided marketplace. The Paradise vast connection with the biggest hotel chains in the world will be an only huge benefit to users.