Booking Token Unit Protocol (BTU): ICO Review

What is BTU?

BTU is a project that has a mission to create a decentralized booking protocol that can be used in professional industries (health, finance, retail, automotive, travel, and more.). The project aims to be the go-to booking application for any website of dApplication (dApp) that wants to create a booking feature for their end users.

BTU’s protocol is standardized as an ERC-808 token and requires the use of Ethereum’s BTU is to give incentives to proper behaviors like rewarding bookings, no-show policies, enforcing late policies.

All applications that use BTU’s protocol benefits from a hybrid approach that uses an off-chain and on-chain smart chain components, providing more scalability. Finally, a public and transparent inventory would lower the entry barriers of online booking markets.

Here are some other issues that are associated with current booking platforms.

  • Limited complementary services offered.
  • Confidential information is risked during data breaks.
  • Loyalty points are service or platform specific.

With Blockchain networks emerging as a global infrastructure, BTU has the opportunity to make different power structure. A public inventory and protocol lower operational costs while creating a fair competition while having a high number of market participants.

Aspects

Anti-Spam: To stop any bad behavior, BTU’s protocol will request buyers to use some BTU tokens before being used to submit its availability offers in its booking offers. The amount of token might depend on the buyer’s reputation that’s tracked by a third-party service.

btu protocol icoBooking Infrastructure: For providers and brokers to meet, a booking infrastructure is required to propagate and host the messages. In this principle, its infrastructure is similar to open book that aggregates buy and sell orders (availability request & availability offer). This leads to qualify the booking infrastructure as a “relayer” or “exchange.”

Motivation: The reservation process embeds a few actions (deposit, sharing customer information, listing availabilities, etc..) and proof of reservation. BTU has a smart contract that allows any third party to start a booking process, check the booking status, and create a booking process.

Token Metrics

  • Website: View
  • Whitepaper: Read
  • Fundraising Goal: $25,000,000 (Hard cap)
  • Price: 1 BTU = 0.75 USD
  • Accepted Currencies: ETH, Fiat, BTC

Bounty0x profile: @jeremycole

Positives
  • Dedicated Team: Vidal Chriqui is the managing director of the platform. BTU’s team has an extensive background in distribution systems and big data. Because of this, their team is expected to complete the project and bring value to their users.
  • Targets Multiple Markets: With BTU, it’s able to target markets such as the entertainment, utility, sports, transport, beauty, and other industries.
  • Reward Mechanisms: BTU tokens are used to reward users who participate in the protocol. Bookers are rewarded with BTU tokens when they’re mining successful bookings.

Negatives
  • Booking Security: How does BTU make sure that users who are creating bookings on this platform have their data protected?
  • MVP: BTU needs to release an MVP so that we can see how its booking process works in an open market.

BTU
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Summary

In conclusion, BTU is a good ICO because it allows users to start booking with their favorite companies. In the future, we expect that this project will become useful for a wider audience as it will make it easier for them to book for events and appointments.

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Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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