The Bee Token (symbol is BEE) ICO has been catching a lot of buzz lately because of the team behind the project. Former emplyees from top companies such as Google, Facebook, Uber and Civic are all collaborating on this project.
“Beenest” and “Bee Protocols”, like many other ICOs coming out right now, are being built on the good old Ethereum blockchain.
The goal behind this project is to distrupt home sharing by making it decentralized and thus commission-free.
Beenest is meant to serve as a home sharing platform, as far as we can tell it’s very similar to Air BnB. The rewards for using the platofrm includes free commissions on transactions, “unrivaled” security compared to other home sharing platforms (*cough* AirBnB?) and also “network incentives” but they don’t elaborate more than that.
The main difference between AirBnB and Beenest, besides being built on blockchain and thus having no middleman commissions and transparency, seems to be the security. The co-founder and CEO of the company is Mr. Jonathan Chou, who is the former lead of Security and Fraud at Uber. So this may explain the reason for tackling this particular market even with AirBnB having such a massive hold on it.
ICO By The Numbers
Supply of Token : 500 million BEE
Min contribution amount: 0.1 ETH
Private Sale : $5 million – SOLD OUT
Public Presale : $5 million – SOLD OUT
Public Sale : $5 million – January 31st, 2018 with some caveats on having to register first
If you’re interested in participating in the token sale, go to the website and join the Whitelist (learn more below). The exact registration dates and crowdfunding dates are there.
Note that the public sale will not be available to the following countries:
- Hong Kong
They say, however, that they are working on it so that in the future investors from these countries will be able to trade the Bee Token – presumably when it’s listed on the exchanges.
Their whitpaper was finished in 2017. They’ve already done some testing and plan to launch Bee Protocols on Testnet (used for testing purposes) by Q2 in 2018. By the end of 2018, they want to optimize and launch it on Mainnet (main, functional network). By 2019, they’re hoping to continue optimizing and expand up to 5 US cities with final targets being London, Korea and Singapore.
You can also fill out a form by going to their website in order to be put on the company’s “Whitelist” and give them information including:
- the account names through which you’re following them on various social media platforms
- your current AirBnB account and how much you use it
- any social media activity you’re released about them
The Whitelist seems to constitute a recognition system so that loyal contributers can be recognized and sorted out from the masses (maybe pump & dumpers?).
The ICO team doesn’t talk about their plan for listing the Bee Token on exchanges so we’ll have to wait and see what the news is with that over time.
It will be interesting to see how quickly Beenest is adopted and how AirBnB will respond. It’s also going to be interesting to see how Beenest plans to tackle the security issues that seem to be unavoidable with home sharing? We’ll have to just wait and see what they come up with this year!
- The Whitepaper: The Bee Token Whitepaper
- Official Website: The Bee Token
- The Bad Crypto Podcast : ICO Spotlight #14