The Paradise Dapp and the Paradise Protocols are powered by the ERC-20 utility token called the Paradise token.
These protocols provide the Paradise network with three principle systems:
1. A Payment/security protocol:
A Payment/security protocol allows two authenticated P2P entities to send and receive money that gets held in Paradise Tokens until after a successful exchange of services between the two entities. With the help of the Ethereum blockchain, we are able to make payments with only 1 step and 1 fee (1.2 %Transaction Fees – (0.2 % will back to “Pool Smart Contract. After a writing review by the guest 0.2% will back to him), which results in accepting payments generally up to 5X cheaper and up to x10000 faster for the host. After simple integration with “Paradise”, host will be able to: use our decentralized trust and reputation system, accept Ethereum based tokens or, accept mobile payments, and easily convert cryptocurrency to their local fiat currency or desire cryptocurrency.1% commission for BTC, ETH (other utility ERC20 tokens).This commission is charged for guests when they chose a pay-in method other than PDT, and for hosts who prefer to get paid-out in other than PDT.
2. A Trust/Claim protocol:
Default trust rates will be created for both host and guest using the Paradise ecosystem for the first time. Every time a transaction is made, claim registered, solved or unsolved etc. the smart contract will automatically change the trust level for each of the parties involved. A Trust rating will be assigned to a specific wallet address. Everyone will be able to see a trust rate in the most common and typical places, such as the host’s website or mobile app and by the host/guest on the blockchain user-friendly interface (Enable access to these dApps from desktop browser and Smartphone’s ) once the purchase is made. /Claim. Once the client makes the claim, all the needed information is saved on the blockchain user-friendly interface (Enable access to these dApps from desktop browser and Smartphone’s).The claim protocol acts as a third party for dispute resolution. The host trust rating is immediately decreased, so the host is incentivized to solve the problem as quickly as possible. The host receives the notification about the claim, looks at the details and contacts the client off- chain. The details are saved to the blockchain. Once the claim is resolved, trust rating is increased for both parties instantly.
3. A Reputation protocol:
A decentralized reputation system will working flawlessly by a trusted digital fingerprint protocol on the Ethereum blockchain. Reputation system will be transparent, universal, not controlled by a central authority, transferable, self- executing. Every time a transaction is made, the smart contract will automatically change the reputation level for each of the parties involved. Paradise updates the reputation score based on how guests and hosts behaviour on the platform. Good hosts with no cancellations and high reviews have higher scores than those with lower reviews and many cancellations. Our target is to offer transparency into our token metrics ,expansion and future roadmap of development.
PURPOSE OF DESIGN PARADISE PROTOCOLS:
- The biggest hotel groups on the world and others can hook into our protocols to tokenize their offerings -giving them access to unlimited market of crypto- travel enthusiasts.
- PDT Protocols provide developers with the foundation to build decentralized applications (Dapps).
- Our Protocols are open source solutions for managing secure Booking/Payments.
- Global hotel industry totals retail value in (2018)- 554.64bn/USD.
- High Token Liquidity. Accepted by The Largest Hotel Chains in the World and more.
- Direct booking on the host website. No Middlemen. 0% Commission. No centralized reservation platform.
- The more PDT you have, the longer your holidays will be.
- Paradise embraces blockchain technology to open a decentralized direct booking in the travel and tourism sector.
- Peer-to-peer economy applications, typified by Expedia, Tripadvisor, Booking.com, and Priceline have achieved great success in the past few years. However, these platforms charge high commission fees, advertising fees and also payment processing fees from their users in order to run.
- Huge growth is only enjoyed by a select few VCs and the founders.
- No interest in the company, very little, if any, of the appreciation value, goes back to the guests and hosts.
- Thanks to Ethereum smart contracts, it is now possible to build a truly decentralized and automated sharing economy platform.
- This will be done with no middlemen, 0% fees for advertising, 0% commission fees and by sharing the wealth with the users in a two-sided marketplace.
- The Paradise extensive connection with the biggest hotel chains in the world will be an only huge benefit to users.