Airbnb’s IPO profile mentions blockchain and cryptocurrency adoption

Airbnb’s IPO profile mentions blockchain and cryptocurrency adoption


2021-03-22 00:20:56

Airbnb has released a prospectus on the company’s IPO, which mentions the future adoption of blockchain and cryptocurrencies.

Airbnb’s IPO plan deals with blockchain adoption.

Airbnb files submitted to the SEC Mentioned a lot of information about the company, drawing the prospect of a future with crypto and blockchain implementations.

Airbnb and the tourism industry struggled over Covid-19

When COVID-19 began to rage around the world in early 2020, Airbnb’s IPO plan seemed rather wobbly.

For a while, the tourism industry seemed to be thriving again. In the summer of 2020, Airbnb saw a boom in business and re-launched its IPO plan. But then in the fall, the number of Coronavirus infections increased significantly.

Currently, the US records cases every day. As a result, closures and travel restrictions are putting the tourism industry in danger once again. Despite the possibility of announcing the vaccine early, the future is still not so bright.

However, Airbnb submitted a prospectus for the IPO on November 16, 2020. Documents submitted to the SEC cover cryptocurrencies and distributed ledger technology (DLT).

Apply blockchain to the authentication process

Although promoting its services as a modern way to travel, Airbnb does not accept payments in Bitcoin at all. Surprisingly, however, the prospectus does mention the possibility of using blockchain technologies for authentication.

“The prospect of a successful future depends on Airbnb’s ability to adapt to emerging technologies such as tokenization, cryptocurrency … and new authentication technologies.”

Airbnb leaves the possibility of using Blockchain and distributed ledger (DLT) open in the authentication process.

The document also notes that Airbnb may use a distributed ledger and blockchain technology for biometric purposes. In addition, the accommodation giant said it is looking at artificial intelligence, augmented reality and cloud technology.

Will Airbnb accept Bitcoin payments?

While these crypto-related entries are covered in the 443-page document, they are not the main attraction. Indeed, information pertaining to authentication is only part of the “Risk Factors” section of the document.

Likewise, the document mentions that pursuing different lines of technology and security research can be more expensive than it is worthwhile.

Airbnb does not accept payments in Bitcoin, despite acquiring crypto company ChangeTip in 2016. However, technically this is possible through a number of third-party applications. For example, PayPal recently added cryptocurrency support and was accepted by Airbnb.

In addition, the company Bitrefill – which sells cryptocurrency gift cards – also allows users to buy Airbnb gift certificates.

According to BeInCrypto

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