Airbnb Users Vote in favor Crypto Payments

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Last Update: September 21, 2022

2 mins read

Airbnb users have voted in favor of having crypto payments added as a feature on the platform.

On January 5 co-founder and CEO of Airbnb Brian Chesky asked his Twitter followers what they want to see implemented for Airbnb in 2022.

The later said he received more than 4000 requests for new features for the platform. He reported that the top request for features in 2022 was for Airbnb to accept cryptocurrency payments for rentals.

At this time there is no official announcement that Airbnb will utilize crypto payments, but Chesky is already known as being a crypto-friendly CEO.

He was interviewed last month and said he was excited for the future of Airbnb and cryptocurrency.

“Airbnb and crypto both have interesting relationships with trust. The original white paper on Bitcoin said that Bitcoin does not require trust because there is essentially a public ledger. Airbnb approached trust in a kind of similar way: we redesigned a system of trust where the reviews are the equivalent of a public trust ledger, essentially”, he said.

Other results from the poll showed that Airbnb customers want more clarity on pricing and fees, more long-term stay discounts, loyalty rewards and more. The common theme around the top results was transparency, something that cryptocurrency can help bring to the platform.

Despite the recent Covid-19 restrictions on travel, Airbnb had one of its best financial years yet. The company reported that its Q3 revenue was four times higher than the previous year.

Cryptocurrency adoption for the platform could boost revenue, lower its overhead costs as well as increase adoption rates for cryptocurrencies.

Some of the comments on Twitter queried if Airbnb hosts would need to accept cryptocurrency payments or if they would still be paid in local currency. It would be more beneficial to the digital asset market if there was an option for the host to receive digital currencies otherwise Airbnb would need to sell these digital assets to pay hosts.

Airbnb operates worldwide and having a global digital currency could help it reduce costs and overhead with currency exchange rates.

There is already a growing industry surrounding crypto tourism, where guests can pay for travel packages with cryptocurrency and avoid having to use fiat during their trips. Some areas of the US have even implemented Bitcoin ATMs in airports as a simpler method for international travellers to obtain local currency. Airbnb would be another step forward for crypto travellers around the world.

Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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Airbnb Users Vote in favor Crypto Payments

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