EMPIREHOTELS - The Future of Hospitality

STARTER INFORMATION

Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

While this revolution is gaining wide acceptance, EMPIREHOTELS, the ultimate platform for users to book both rooms and experiences across the globe has arrived.

"The blockchain, as many industries have come to realize by now, is a technology that can and will change people’s lives and business models wherever there is a marketplace with a multitude of participants; some (or all) of which have diverging interests and no reason to trust each other.

Take the hotel booking industry as an example. Here, many suppliers with a very inhomogeneous range of offerings (from a bunk bed to a luxury suite) have to be connected with several potential buyers who all have diverse and ever-changing desires. This has created a market that is abundant with middlemen and cutting out the middleman is a prime use case for the blockchain.

As we all know, a hotel reservation system works by processing secure online reservations made through a hotel’s website. The data is then passed onto a backend system which can be accessed by hotels to manage bookings. Other features may come with it – for example, the automation of reservation confirmation emails.

Small hotel managers and owners recognize that technology is key to growing their business and increasing their bookings overtime. To sell rooms to capacity and to appeal to a global audience, a hotel reservation system is required."

With that being said, EMPIRE HOTELS is a global platform and application, where users can order rooms and services using fiat and crypto assets, using blockchain and smart contracts.

But before we go any further, please check out this video presentation to get even more acquainted

Now that I have your attention, let’s get right to it.

What exactly is EMPIREHOTELS?

As depicted above and according to the official whitepaper of EMPIREHOTELS, Empire Hotels is a booking platform built on blockchain technology, and it will be able to solve the major problems faced in the hospitality industry and provide the best user experience to guests and the service provider.

In addition, Empire Hotels, a revolutionary booking platform, intends to solve this pain point faced in hospitality industry by cutting out commissions for third parties and leveraging the blockchain technology to facilitate better data management and transactions system for hotels. Empire Hotels aims to offer a currency to be used in the hospitality industry, thereby creating an easy-to-use platform for the public, and an API for integration with other systems.

Below are some of the impending challenges EMPIREHOTELS seek to solve:

Double booking

The double-booked room is an unavoidable issue. Well-trained staff can prevent booking errors.

Incorrect Data

Incorrect data can put a great amount of stress on both the customer and the front desk agent or manager.

Expensive booking portals

Majority of the hotel bookings happen through online booking portals. The portal charges usually sum up to 15-25% fees on the booking cost.

Platform maintenance

In order to maintain an Over-The-Air service up and running, companies spend resources on infrastructure, software and hardware maintenance.

Financial and transaction fee

The financial institutions between the customer and the hotel will charge a fee to process transactions.

Foreign transaction fee

When booking an international hotel, fee of approximately 3% is discreetly charged from the guest to process the transaction.

Currency Conversion Fee

When someone pays with foreign currency to book a room, the rates applied on the currency conversion are generally higher than what the rates actually are moment of booking.

The Solution Offered - WHY EMPIREHOTELS IS SO IMPORTANT TO OUR TODAY'S CRYPTOSPHERE

Empire Hotels is solving these problems by eliminating any third parties and leveraging the blockchain technology to facilitate a better data management and transactions system for hotels, platform can revolutionise the way the industry runs. Empire Hotels offers a currency to be used in the hospitality industry. This would create an easy-to-use platform for the public and facilitate an API for integration with other systems. The unique architecture of Empire Hotels platform enables the hotel bookings to be executed as crypto transactions. Every transaction is executed and stored in a decentralised P2P network so that the platform can provide improved data management and reduce costs for transactions as compared to other platforms available in the market.

How It works?

The Empire Hotels cross-platform applications interfaces between hoteliers and guests. It works just like any other booking platform; hoteliers can list their hotels on the platform for free and guests can browse through the listed hotels. In the Empire Hotels platform, all booking transactions and inventory management data are stored in the blockchain network for effective data management.

Through the platform, guests can make payment using cryptocurrency - EMPC tokens (it is the utility token powering the platform), which will be converted to fiat and paid to hoteliers by the platform. Guests are rewarded with added services when they use the platform more frequently. The incentive model of the platform is designed to encourage guests to use the platform frequently and to hold the EMPC tokens with them longer to get more benefits.

Simple, easy, and fun

Users can browse for hotels and experiences nearby. They can place bookings using both fiat and EMPIRECASHs — our digital asset.

Truly empowering hotels

Even though there are no fees for the registration, a small fee — the smallest on the market — is added to each transaction in order to make the platform viable. Affordable fees for owners; lower prices for users.

Revolutionizing the Hospitality Industry

The developers took care of every little step during the app development process. We want to give the best experience to our users.

About The Empire Cash (EPMC) Token

Empire Cash (EPMC) is a token produced by Empire Hotels to complete payments for services and distribute gifts “and will not be subject to processing fees”. Now and the Future of Empire Hotel For company security to work with Netverify (which “helps prevent fraud, fake or stolen ID use”). Others include Accubits, which “really pushed [Empire Hotel] into the market” and AppInventiv: “an application development company, based in India”. Empire Cash (EPMC) is a token produced by Empire Hotels to complete payments for services and distribute gifts “and will not be subject to processing fees”

Token Details

Usage of Funds

The Empire Hotels platform will issue Empire Cash tokens (EMPC tokens) to fuel the transactions and incentive models of the platform.

The total supply will be 1,350,000,000 EMPCs. The Initial Coin Offering intends to raise $36,000,000 through its various phases.

The Advantages of Using The EMPIREHOTELS Platform

Cheaper booking

Using cryptocurrency for hotel bookings can drastically reduce the transaction fees and rule out international payment charges and currency conversion fees. By adopting this strategy, it is possible for the hotel to increase its profit margins while offering to the users the opportunity to book a hotel at a much cheaper price.

Secure and reliable

By using blockchain to process transactions, transparency and security are preserved more than ever. Unauthorised parties will not be able to access confidential user data. Every transaction will have an ID associated with the user if required. All non-sensitive data exchanged during the booking process will be encrypted and saved in the transaction details, protecting both user and hotel against fraud.

Accurate Reservation

Blockchain is a non-centralised solution for the double-booking problem, a classic problem that could not be solved without a trusted entity mediating the transaction. The bookings are executed as crypto transactions in Empire Hotels platform and before confirmation, the timetable for the room is verified on blockchain and this virtually eliminates the possibility of double-booking.

ROADMAP

First Draft Idea – November 2017

The first idea for applications and platforms was designed. Although this idea has changed over time, in November 2017 we first discussed the development of this project.

Smart Contract Design – March 2018

Smart contract development and auditing are important stages in the ICO process. During this stage, crypto-economics, numbers, and inventory are defined.

Whitepaper Development – March 2018

Whitepaper explains the technology and features of our application and platform, as well as plans for the future.

Website Development + Dashboard – June 2018

The website and dashboard wallet was developed using the most modern technology, and was repeatedly tested on many different devices.

ICO Phase – Commenes in January 2019

The ICO phase will begin in January 2019 and will be divided into three parts: Pre-ICO (pre-sales), Phase 1, and Phase 2.

Launch of Applications for Android and iOS – April 2019

The first version of the application will not be beta; it will be fully operational. This version will activate all features from day one and will be updated from time to time.

Launch of EMPIRECASH Payment – July 2019

This feature, scheduled for July 2019, will provide a tool for users to pay via contactless using their cellphones, while attracting from available EmpireCash coins.

MEET THE AMAZING TEAM

ADVISORS

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

Website : https://www.empirehotels.io/

Whitepaper: https://www.empirehotels.io/docs/en/whitepaper-en.pdf

Twitter: https://twitter.com/empirehotelsapp

Telegram https://t.me/empirecash

Facebook: https://www.facebook.com/empirehotelsapp

Instagram: https://www.instagram.com/empirehotelsapp

YouTube: https://www.youtube.com/channel/UCsSnBBk4StaGk1hsu-SQeVw

LinkedIn: https://www.linkedin.com/company/empire-hotels-app

Author: Cryptoholical

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.