The Bee Token -The Future of Home Sharing - ICO review by CryptoPoids
Site: https://www.beetoken.com/
Token / Coin: BEE coin – ERC20
Supply: 500,000,000 (500 million)
Token distribution: 25% Company Reserve, 30% Public Sale, 15% Team / Advisors and 30% community reserve.
ICO Breakdown: 5% overhead, 20% operations, 40% engineering / development and 35% marketing / business development
Hard cap: $15M USD. 1 BEE = 0.14c US ( they have already raised 10M! only 5m left! )
Crowd sale date: 31 Jan – Make sure you whitelist! ( i repeat only 5M left!)
Countries Excluded: USA, Canada, Taiwan and Hong Kong
Twitter: https://twitter.com/thebeetoken
What is Bee?
Bee is a decentralized home-sharing network that connects host with guest without taking any commissions using Bee Tokens. The only fee is the tiny gas fee to process the smart contract on the Ethereum network (few cents). A host can gain about 20% more profit comparing to the fees on AirBNB. Using Bee tokens on their platform has no fees however if you use other cryptos or fiat there will be a small fee. Reviews on the blockchain will be verified by a filter so reviews tend to be more honest from guests and hosts compared to centralized systems that can be edited/ deleted anytime. There will be future dAPPS that will be built on Bee to help it improve its system eg food like Ubereats. They will also have a reputation system that helps the person get rated on their actions for being a guest, hosting, arbiter, seller or buyer. The more reputation you have the better your ad will be shown and it will be helpful for future dAPPS that get built on the system that uses a reputation/credit system.
Use of the token :
The Bee token will be the currency to facilitate on the network. As more adoption spreads the Bee token will increase in value as standard crypto currency inflation process. Staking Bee tokens gives you a 5% reward but also enrols you to participate in the arbitration process. Bee stake holders are selected at random when a dispute occurs; the tokens will be locked up until a decision is made by a group of stake holders. If you don’t come to a conclusion you may be penalised the tokens you stake. This is a great way to allow the community to participate and be fair when it comes to reviews.
The Team:
The team consists of young talented team of ex engineers from Google, Facebook and Uber. They have extensive experience in development as well most of them seem to be located in the San Francisco so it looks like they will have local knowledge expanding within the area. Their Linkedin in profits have 500+ connections and detailed employment history. Their team is very big so make sure to check it out on their website.
Jonathan Chou – Co-founder & CEO – former lead at Uber security & Fraud
Tony Tra – Co-founder & CTO – former engineer at Uber
Jordan Ong – Head of Product – Former product facebook
George Parez – UI/UX designer @ Bandai Namco
The Advisors:
7 listed advisors however the ones that stand out are Richard Ma – Co-Founder & CEO of Quanstamp, Miko Matusumara – Partner at Pantera Capital and Yiseul Cho advisor for many projects like ICON.
Roadmap
Their roadmap is very conservative as they are focusing on making sure their platform is user friendly. San Francisco is a good place for them to start since the value of real estate is pricey and attracts quite a lot of tourists per year. When they are ready this will spread very fast to many states and countries within less then a few years.
Further Material :
Huffington Post: https://www.huffingtonpost.com/entry/disrupting-the-disruptors-why-experts-think-the-blockchain_us_59e52b47e4b04e9111a3e442
Telegram: 37,000+ Members! - Got questions? ask the admins directly for fast answers :)
https://t.me/beetoken
Crypt0s News quick interview with CEO Founder Jonathan Chou:
Rating: 8/10
BEE has a very strong team with good marketing as they have grown their telegram to over 34,000 members. Make sure you get in the Whitelist or else you cant be the special chosen few who get to buy the remaining 5M in tokens. Due to their fundraising amount is so small I think this will sell out but it could explode to a $500M+(33x) market cap after listing on a few good exchanges.
Currently there is no referral link but i don't think its needed because it will go in seconds!
Thank you for your time. If you have any questions or feedback please let me know. :)
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i am not paid to write this review :)
Disclaimer:
Invest at your own risk. This is my opinion and is not financial advice. Always make sure you do your own research and invest what you can afford to lose.
Donation Address
Bitcoin: BTC ONLY
1HGU87U6io2ca76dsxqHT6TnaSaWCnK57m
Ethereum: ETH / ERC20 tokens
0x17875fF1A64A0D53F42044FE5408BAb558e885bF
Litecoin: LTC ONLY
MGj3nJE8ASkztQu6qDuH2Z1eUZ6X3uM2Tf