The purpose of this video is to provide exposure and awareness for this video. It is NOT intended as a solicitation to buy or sell any ico tokens. Information was obtained from the white paper and online sources for accuarcy. Information presented here is not meant as financial advice but as means of educating the viewers about an initial coin offering. It is NOT a recommendation to buy or sell any tokens mentioned in this media.
Information should be considered to be as an advertisement for a company's products, features and for educational purposes only. The idea is that as the Beenest ecosystem takes off and transaction volume increases, more tokens will be staked.
As the number of staked tokens go up, the circulating supply of Bee tokens goes down. Other Strategic Protocols While the Bee Token team will develop the three core protocols themselves, they will be partnering with others for the development of the rest of the strategic protocols.
These will be protocols for currency conversions including fiat , KYC and identity verification, the marketplace, and smart contract auditing. How Bee Token Intends to Get Users The success or failure of the Bee Token project will depend primarily on the number of hosts and guests that sign up for the platform.
Hence, user acquisition is of utmost importance. Bee Token has a three-prong user acquisition strategy: The Crypto Community — The Bee Token team will first start out by targeting the crypto community. They will sponsor and engage with crypto conferences and conventions. Referral Program — A tried and tested method that has been around for ages now.
Ambassador Program — Another tried and tested method that feeds in well with the referral program strategy. The only thing it has at this point is the aforementioned whitepaper. The next milestone to look out for will be for Beenest Alpha to go live in San Francisco and for the Bee Protocols to launch on Testnet.
The target for this milestone is by the second quarter of In , the Bee Token aims to have expanded its platform to five American cities. You can view the rest of the Bee Token roadmap here. Based on their roadmap, the team appears to be quite conservative. On the one hand, this might mean the project may not scale fast enough. On the other, the chances of actually achieving these milestones will be far better.
And despite the fact that they only have a whitepaper at the moment, both the public and private presale was completely sold out. This is a positive sign for the short-term performance of the token. Potential Issues with the Bee Token Business Model Despite its token sale success thus far, the Bee Token is still in a very early stage of development, and there are a few potential issues that it should address as it progresses along its development roadmap.
For instance, how willing will parties, especially guests, be in going into arbitration? Consider that entering arbitration lowers reputation score. Further, if arbiters get penalized if the parties are unhappy with the decision, how willing will they be to be arbiters in the first place?
Another issue is its primary value proposition, the lower fees. When it comes to budget rentals, the difference in final cost may not be substantial enough to cause people to switch over to the Bee Token platform.
AZERBAIJAN VS NORWAY BETTING
What is most exciting for the altcoin market is that companies like Bee Token are bringing cryptocurrency to the masses and institutional investors are starting to notice. Bee Token is challenging the business model and the very core of Airbnb.
This is a big deal as companies will start integrating blockchain and cryptocurrencies into their products sooner than later in order to keep up with evolving technology. As a developer for 17 years I have seen the evolution of technology grow at an amazing pace.
Blockchain and cryptocurrencies are revolutionizing the tech industry as well as introducing decentralized business models that give the normal customers as well as companies more control. The blockchain and utility tokens such as Bee Token allow companies to scale globally much faster without the need for centralized banking and traditional payment processing such as Paypal, Stripe and other high fee payment processors.
Being a developer myself for over 17 years I know how hard it is to create a great product that meets market demand. While I research most ICOs in order to invest and make a profit I have to admit I am just as excited about the team and the fact that developers of this caliber are moving into the crypto and ICO space. The team itself will bring a lot of new investors into this space and help solidify the fact that blockchain technology is being adopted by the tech industry.
To learn more about the technology and how the Bee token will be used as the part of Beenest take a look at the whitepaper: Bee Token Whitepaper There is a chance for you to get in on the ground floor of Bee and be part of the Bee Token ICO also known as an Initial Coin Offering. During an ICO a company distributes a certain amount of utility tokens to be used in the company ecosystem. The first crack was a hack during the ICO itself.
The hacker diverted funds from the ICO into their own Ethereum wallet. In hindsight, this hack may have been the development team attempting to divert funds directly to their wallet. But most of the problems began in First it was with users complaining about getting banned from the Telegram channel. Eventually, the Telegram was deleted. The project officially folded in The Bee Token has a Facebook post claiming that the company folded because users were more interested in investing in cryptocurrency than actually using it.
Is this the case? Possibly, but the team was so poor at managing the project that it appears it was an actual scam. If you invested in The Bee Token and lost money, then you can take part in a potential class action suit against the company. You can fill out your information here if you would like to take part in the class action suit. However, the class action suit only has members, so it appears unlikely that funds will be returned.
You should just chalk this up as an expensive lesson if you lost money to The Bee Token. Granted, there are a lot of scams, but this section will cover some pointers to avoid most of the scams. Thoroughly investigate the team. Make sure to do your due diligence on the team behind a cryptocurrency.
You also want to avoid anonymous teams or teams that lack any experience.
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Bee Token (BEE) - Giving Airbnb A Run For It's Money
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