Crypto Money Outflow from Accommodation Service Airbnb

Hospitality giant Airbnb stated in its public offering prospectus to the U.S. Securities and Exchange Commission that the company’s future success will depend on its ability to adapt to emerging technologies such as cryptocurrencies, blockchain technology, and new identity verification technologies.

In addition to all these, it was underlined that concepts such as biometrics, artificial intelligence, virtual and augmented reality, and cloud technologies are of great importance for the future of the company.

The following information is included in the risk factors section of the document;

“As a result, we plan to continue spending substantial resources to protect, develop and improve our technologies and platform. However, these efforts may be more costly than expected and result in failure. ”

In a previous statement, Airbnb had stated that they had no plans to accept Bitcoin as a payment tool, and these allegations emerged with the company’s acquisition of ChangeTip, a cryptocurrency tip service, in 2016.

It will be a shocking wave for the cryptocurrency industry if the home leasing giant integrates the use of cryptocurrency into its system. A similar effect will be experienced when PayPal launched its cryptocurrency trading service last month after years of speculation.

Airbnb plans to trade on Nasdaq with the exchange code “ABNB” for the IPO. Reuters expects the company’s valuation to be over $ 30 billion and the company to generate around $ 3 billion in revenue with the IPO.

In its prospectus, the company announced that the coronavirus epidemic affected them as well as many companies, but despite all these restrictions, they managed to make a profit in the third quarter of 2020.

Some decentralized projects have set out with the goal of competing with Airbnb using blockchain technology, but so far, no project has achieved great success.

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