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Airbnb links its future success to cryptocurrencies and tokenization

Key facts:

The startup considers that the integration of new payment methods is essential for its business.

The company’s plans are making a comeback amid the pandemic, including its debut on the stock market.

Popular online rental marketplace Airbnb is showing interest in adopting emerging technologies, including tokenization and cryptocurrencies. In a registration application for an initial public offering (IPO), filed with the U.S. Securities and Exchange Commission (SEC), the company says its future success depends on its ability to adapt to the challenges the company is imposing. innovation.

In its leaflet Filed with the SEC on November 16, the company details its current financial situation and presents its future plans. It raises the need to adapt to “new authentication technologies like biometrics, distributed accounting and blockchain ”. He also mentions artificial intelligence, virtual and augmented reality, as well as cloud-centric computing services.

In the Risk Factors section, the company states that the operations and financial situation of its business would receive a negative impact as a consequence of not making adequate investments in new technologies. However, it warns of other adverse situations that could arise in the midst of its technological innovation such as errors, vulnerabilities and system failures.

The more than 400-page document does not offer more details on how the company intends to innovate its platform by incorporating systems based on blockchains or other emerging technologies. Nor does it provide further information on the possible incorporation of tokens or cryptocurrencies. However, makes it clear that it evaluates the integration of new payment methods, which he considers as a fundamental element to guarantee his success in the future.

Founded in 2008, Airbnb currently has more than 300 million users worldwide, which has allowed it to emerge as one of the most successful systems in the sharing economy. Its concept consists of sharing and exchanging goods and services between individuals through digital platforms that allow the user to find accommodation, from common apartments to tree houses and other alternatives offered for rent in more than 180 countries.

prospect adopt hosting technology

prospect adopt hosting technology

Airbnb is rethinking its future plans after it achieved a strong financial recovery during the third quarter of the year. Source: Airbnb prospect.

It is not the first time that Airbnb shows interest regarding blockchains, since four years ago, the startup hired a group of experts who were part of the ChangeCoin team, a company that provides micropayment services with Bitcoin, according to what was reported by CriptoNoticias 4 years ago.

Airbnb plans

With the prospectus filed with the SEC, Airbnb sets the course for its stock market debut scheduled for December. The presentation sheds a glimpse of the company’s reinvention after the coronavirus outbreak pushed it to change its approach. This is due to the fact that the demand for houses and apartments has rebounded due to the fact that tourists prefer them over hotels to comply with social distancing as a protection measure against the pandemic.

Airbnb plans to list on the Nasdaq under the symbol ABNB. It aims to raise around $ 3 billion and could achieve a valuation of more than $ 30 billion according to reported . in October. Airbnb’s listing is expected to be the highest on Nasdaq since Facebook’s IPO in 2012.

The document published by the SEC showed a shocking recovery in their accounts, after the coronavirus outbreak affected their income during the first half of the year.